Metal Powder Market to be Worth $10.2 Billion by 2031
Global Metal Powder Market - 2024 to 2031
Meticulous Research® has recently released a report forecasting that the global Metal Powder Market will expand to $10.2 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.2% between 2024 and 2031. This growth is primarily driven by the rising demand for additive manufacturing (AM) and the increasing emphasis on recycling metal waste into powder form. However, health risks associated with metal powder usage are a significant challenge that could hinder the market's progress. Additionally, the market is poised to benefit from the increasing need for lightweight components across various industries and advancements in powder metallurgy, which are expected to create new opportunities for market participants. Nonetheless, ensuring the quality and consistency of metal powders remains a significant obstacle to sustained growth. The market is divided into ferrous and non-ferrous metal powders. In 2024, ferrous metal powders are projected to hold the majority share of the market, exceeding 65%. This dominance is due to the extensive application of ferrous metals in industries like defense, aerospace, construction, automotive, and healthcare. The superior strength and durability of ferrous metals, along with a growing preference for atomized iron powder in industrial uses, contribute to this segment's strong market position. In contrast, the non-ferrous metal powder segment is expected to experience the highest CAGR during the forecast period. This growth is driven by the increasing use of composite materials in additive manufacturing, the rising demand for titanium powders for aerospace and automotive applications, and ongoing innovations in new alloy formulations. The metal powder market is also segmented based on application into additive manufacturing, metal-injection molding, pressing & sintering, and other technologies. In 2024, the pressing & sintering segment is expected to capture the largest market share, primarily due to its costeffectiveness and the growing focus of manufacturers on expanding production capacities. For
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Global Metal Powder Market - 2024 to 2031
instance, in February 2024, SAP PARTS Pvt. Ltd. in India installed a new metal powder press to boost production capacity and enhance the compaction process. However, the additive manufacturing segment is anticipated to exhibit the highest growth, with a projected CAGR of 9.0% during the forecast period. This growth is attributed to the development of new alloys, increased use of AM for prototyping, jewelry making, and the production of lightweight parts across various industries, including aerospace, automotive, and defense. Companies are also expanding their metal powder production for additive manufacturing, as seen in Pometon S.p.A.'s establishment of a new division in 2021. When categorized by the source, the metal powder market is split into pure/ore metal powder and recycled metal powder. By 2024, the recycled metal powder segment is expected to dominate the market, accounting for over 56% of the market share. This growth is fueled by increasing sustainability initiatives and the development of metal powder recycling systems. This segment is also predicted to grow at the fastest rate during the forecast period, driven by the use of scrap and discarded parts as feedstock for new powders in additive manufacturing and the ongoing expansion of manufacturing activities. In terms of production methods, the market is divided into chemical, mechanical, and physical methods. The mechanical method is expected to lead in 2024, accounting for over 44% of the market share due to its cost-effectiveness. This segment is also expected to experience the highest growth rate, driven by the growing use of recycled metal powders and the ability of mechanical processes to produce ultrafine powders with high melting points. Lastly, the metal powder market is segmented by end-use industries, including automotive, aerospace & defense, heavy machinery & tools, medical & dental devices, oil & gas, chemical, construction, energy & power, transportation, and others. The heavy machinery & tools segment is expected to dominate in 2024, with over 33% of the total market share. This dominance is attributed to the increased use of metal powders in heavy machinery manufacturing due to their material flexibility, application versatility, and cost-effectiveness. The aerospace & defense segment is anticipated to grow at the fastest rate, driven by the use of metal powders in producing high-strength aerospace parts and the increasing use of 3D printing for prototyping. Geographically, the metal powder market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to lead the market in 2024, with over 37% of the total share. This dominance is due to the region's robust manufacturing base, particularly in China, South Korea, and Japan, and the rapid growth of manufacturing in Southeast Asia. Additionally, Asia-Pacific is expected to experience the highest CAGR of 7.5% during the forecast period, driven by increasing industrialization, urbanization, and demand from the automotive sector. Key Players: Some of the key players operating in the metal powder market are Höganäs AB (Sweden), GKN Powder Metallurgy (U.K.), Advanced Technology & Materials Co., Ltd. (China), Sandvik AB (Sweden), AMETEK Inc. (U.S.), Tekna Holding ASA (Canada), BASF SE (Germany), Aubert & Duval (France), Alcoa Corporation (U.S.), ATI Inc. (U.S.), Carpenter Technology Corporation (U.S.), RusAL (Russia), Rio Tinto (U.K.), Kymera International (U.S.), and Praxair S.T. Technology, Inc. (U.S.)
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Global Metal Powder Market - 2024 to 2031
Download Sample Report Here @ https://www.meticulousresearch.com/downloadsample-report/cp_id=5860 Key questions answered in the report•
Which are the high-growth market segments based on metal type, application, source, production, and end user?
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What was the historical market for metal powder?
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What are the market forecasts and estimates for the period 2024–2031?
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What are the major drivers, restraints, and opportunities in the metal powder market?
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Who are the major players, and what shares do they hold in the metal powder market?
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What is the competitive landscape like in the metal powder market?
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What are the recent developments in the metal powder market?
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What are the different strategies adopted by the major players in the metal powder market?
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What are the key geographic trends, and which are the high-growth countries?
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Who are the local emerging players in the metal powder market, and how do they compete with the other players?
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