Metal Powder Industry Size, Share, Demand, Report, Forecast 2024-2032

Metal Powder Industry 2024 Global Industry Analysis, Size, Investment Analysis, Trends, Growth, Research Report

Metal Powder Industry Size, Share, Demand, Report, Forecast 2024-2032

The global metal powder industry was valued at USD 7.52 billion in 2023 and is projected to grow from USD 7.99 billion in 2024 to USD 13.00 billion by 2032, exhibiting a CAGR of 6.3% during the forecast period. Rise in demand from the automotive industry is projected to drive industry growth. Increasing demand from end-user industries to expand industry progress. Fortune Business Insights shares this information in its “Metal Powder Industry Size Report, 2024-2032.

Metal Powder Industry Segmentation

Due to its Application in Various End-User Industries, Ferrous Metal Type to Lead the Segment

Based on the metal type, the industry is segmented into ferrous and non-ferrous. The ferrous segment is projected to be the fastest growing segment due to its applications in various products such as oil-less bearings, orthopedic implants, dental restoration, automotive transmission gears, aircraft brake pads, etc.

Owing to its Efficiency and Versatility, Mechanical Method to Gain Traction 

Based on application, the industry is segmented into mechanical method and chemical methods. Mechanical methods to be the prime the industry due to its versatility and efficiency. This method requires superior devices for production. It is made up of milling, gas atomization, spray method, mechanical alloying, and electrolysis.

Owing to Increasing Use of Powdered Metal, Automotive is Set to Dominate 

According to end-user industry automotive, manufacturing, medical, electrical and electronics, and others. The automotive end-use industry is expected to govern the segment due to its usage of powdered iron in the automotive industry. It is used for hot isostatic pressing, particle metallurgy, injection molding, and sintering. The manufacturing segment is also expected to have a sizeable growth as metal powder finds its usage in various manufacturing techniques. 

Regionally, the industry is grouped into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Drivers and Restraints

Need and Demand for Safe and Potable Water to Inflate industry Growth

Demand for the product is attributed to its various applications in end-user industries such as automotive, manufacturing, medical, electrical & electronics, and others. The metal powder industry growth is accredited to the product application in the automotive industry for particle metallurgy, hot isostatic pressing, sintering, and injection molding. Applications of the product in many industries have also increased as it is likely to satisfy the need of renewable energy, which is anticipated to drive the industry growth.

COVID-19 Impact:

Disruptions in the Product Demand Affected industry Growth During the Pandemic

The outbreak of coronavirus resulted in irregular demand of the product. Shutting of automotive and various other industries affected the demand for the products that are used in their development. Recovery of the industry is credited to the recovery and reopening of automotive industry.


Regional Metal Powder Industry Insights

Asia Pacific to Lead the industry Due to Availability of Range of Automotive Products

The industry in Asia Pacific stood at USD 2.44 billion in 2021 and is predicted to have improved progress in the global metal powder industry share during the forecast period. Presence of medium and small sized manufacturing facilities for metal powder production in Asia Pacific is estimated to increase the industry share across the region.

In North America, the industry is expected to enhance the industry growth due to strict rules and regulations by governments for proper disposal of industrial wastewater.

Competitive Landscape

industry Players Adopted New Product Development to Strengthen their Product Portfolio

Key players of the industry have opted for acquisition and new product development strategies. For example, in May 2021, Rio Tinto developed a new steel powder that is designed for the purpose of 3D printing applications in its Rio Tinto Fer et Titane (RTFT) metallurgical complex, which is lsocated in Sorel-Tracy, Quebec. Additionally, companies have taken up new product launches, acquisition, and partnership strategies to augment the product demand effectively to bolster industry growth.

Metal Powder Industry Development

  • June 2021: BASF launched and opened a new Center of Excellence laboratory to conduct and expand its Catamold business in Shanghai, China. It will serve as a facility for expertise solutions and products for the Metal Injection Molding (MIM) industry in China and the rest of Asia.   

List of Key Metal Powder Companies Profiled in the Report:

  • Rio Tinto Metal Powder (U.K.)
  • Sandvik AB (Sweden)
  • Carpenter Technology Corporation (U.S.)
  • Hoganas AB (Sweden)
  • GKN Powders - Hoeganaes (U.S.)
  • ATI (U.S.)
  • Praxair Surface Technologies (U.S.)
  • C. Starck (Germany)
  • Kymera International (U.S.)
  • BASF SE (Germany)

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