Wilmington, Delaware, United States, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Metal powder market worth US$ 7.8 billion in 2021. A CAGR of 4.4% is expected between 2022 and 2031. In 2031, the global market for metal powder is expected to reach US$ 12.1 billion. The metal powder market is expected to benefit from rapid advances in additive manufacturing technologies, such as 3D printing.
Increasingly sophisticated AM processes and lower costs will increase demand for metal powders in automotive, aerospace, healthcare, and other industries. Metal powder manufacturers can produce complex and customized metal components by reducing waste and improving efficiency.
New and advanced metal powders will likely be created due to ongoing research and development in metallurgy and materials science. Materials like these could be used in high-performance industries, including aerospace and defense, increasing their strength, durability, and heat resistance.
Download sample PDF copy of report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=69533
As the metal powder market continues to grow, sustainability and environmentally friendly practices will play an increasingly crucial role. Additive manufacturing uses metal powders, especially those that use minimal materials and reduce waste. Industries that want to minimize their environmental impact and meet strict regulatory requirements are likely to increase the adoption of this technology.
Key Findings of the Market Report
- The iron & steel powder segment will dominate the market during the forecast period.
- In terms of volume, aluminum also contributed nearly 13% to the global metal powder market.
- Metal powder business in the automotive industry held almost 64% of the global market in 2021.
- A significant 37.8% share of the global metal powder market in 2021 was held by Asia Pacific.
- Metal powder consumption in Europe contributed significantly to the global market in 2021.
Global Metal Powder Market: Key Players
Metal powder market shares are dominated by large-scale vendors, with the majority controlled by a few large players. Researchers and engineers spend a great deal of time and money developing environmentally friendly products. Key players take advantage of mergers and acquisitions to expand product portfolios.
Prominent Metal Powder Players Profiled in the Report
- BASF SE
- Sandvik AB
- GKN Plc.
- Rio Tinto
- Höganäs AB
- JFE Holdings, Inc.
- Vale S.A.
- Alcoa Corporation
- Laiwu Iron & Steel Group Powder Metallurgy Co. Ltd
- GGP Metalpowder AG
- Sarda Industrial Enterprises
- Metal Powder Company Limited
- The Arasan Aluminium Industries (P) Ltd
- MMP Industries Ltd. (MMPIL)
- Deva Metal Powders Pvt. Ltd
- Shakambari Enterprises (India) Pvt. Ltd.
- Innomet Powders
- Sri Kaliswari Metal Powders Pvt. Ltd
- Industrial Metal Powders (India) Pvt. Ltd.
- D M Metal Powder
Key Developments
- In September 2023, GKN Powder Metallurgy announced 'satisfactory' first-half earnings. Revenues adjusted for inflation were £545 million, up 2% from 2022. As a result, volumes fell 1% year-over-year due in part to accelerating EV transitions, operational difficulties in the US, and a facility closure in 2022.
- In January 2024, Sandvik AB, a manufacturer of metal powders based in Stockholm, Sweden, announced it will distribute its metal powder products in the United States through KBM Advanced Materials, LLC.
Global Metal Powder Market: Growth Drivers
- Metal powders are used to create electronics, high-performance alloys, and lightweight components. Metal powders are increasingly used for traditional powder metallurgy and additive manufacturing in the automotive and aerospace industries in response to fuel efficiency and emission restrictions. Metal powder market growth has been fueled by advancements in additive manufacturing technologies.
- With additive manufacturing or 3D printing, complex metal components can be produced precisely and cost-effectively. Metal powders can be efficiently used in industries such as healthcare to manufacture custom implants and prosthetics. As additive manufacturing processes become more versatile and efficient, the metal powder market is expected to grow significantly.
- Adopting metal powders is driven by a desire for sustainable and environmentally friendly manufacturing practices. Using metal powders instead of traditional manufacturing methods, additive manufacturing reduces energy consumption and material waste.
- Recyclability and environmental friendliness also contribute to metal powders' appeal. Adopting metal powders is aligned with sustainability goals, further boosting that market's growth as industries worldwide strive to comply with environmental regulations.
Customization Request for the Research Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=69533
Global Metal Powder Market: Regional Landscape
- Asia Pacific is expected to experience growth in the metal powder market. China, Japan, South Korea, and India have vibrant manufacturing sectors that drive the metal powder market. With the rise in automotive, electronics, and healthcare sectors, metal powders are used in various industries.
- Additive manufacturing and powder metallurgy have become increasingly popular due to the demand for lightweight and high-performance materials in manufacturing processes.
- Metal powders have gained popularity in Asia Pacific due to rapid technological advancements and investments in additive manufacturing. Countries like China and Japan have led the adoption and advancement of additive manufacturing techniques.
- In the Asia Pacific, the market for metal powders has grown rapidly due to additive manufacturing's ability to produce complex and customized metal components with high precision.
Global Metal Powder Market: Segmentation
By Type
- Iron & Steel
- Aluminum
- Copper
- Nickel
- Others
By Application
- Automotive
- Electrical & Electronics
- Machinery
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Contact us for Special Discount and Pricing - https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=69533
More Trending Reports by Transparency Market Research –
High Purity Alumina Market- The market was valued at US$ 2.0 Bn in 2021 and it is estimated to grow at a CAGR of 15.1 % from 2022 to 2031 and reach US$ 8.2 Bn by the end of 2031
Hyperelastic Material Market- The industry was valued at US$ 15.6 Bn in 2021 and it is estimated to advance at a CAGR of 4.9 % from 2022 to 2031 and reach US$ 25.1 Bn by the end of 2031
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube
