The SNS Insider report indicates that the Metal Powder Market generated USD 6.96 billion in 2022, grow at a CAGR of 7.1%, and reach USD 12.05 billion by 2030 over the forecast time of 2023-2030. The metal powder market is witnessing rapid growth, driven by the increasing demand for additive manufacturing, also known as 3D printing, across various industries such as aerospace, automotive, healthcare, and electronics. Metal powders serve as feedstock materials for additive manufacturing processes, enabling the production of complex geometries, lightweight structures, and customized components with high precision and efficiency. As industries embrace the benefits of additive manufacturing, including design freedom, reduced material waste, and rapid prototyping capabilities, the demand for metal powders as key consumables in the process is surging, propelling the expansion of the global metal powder market.
One key trend shaping the metal powder market is the development of advanced alloy compositions and powder metallurgy techniques to meet the stringent performance requirements of end-use applications. Manufacturers are investing in research and development to engineer metal powders with tailored properties such as particle size distribution, morphology, and chemical composition, optimizing flowability, packing density, and sinterability for specific additive manufacturing processes. Additionally, the use of powder metallurgy techniques such as atomization, gas atomization, and plasma spheroidization enables the production of ultrafine powders with improved flow characteristics, reduced porosity, and enhanced mechanical properties, facilitating the fabrication of high-performance metal parts with superior strength, durability, and surface finish.
Get a Report Sample of Metal Powder Market @ https://www.snsinsider.com/sample-request/1467
Some of the Key Players Included are:
l Sandvik AB
l Carpenter Technology Corporation
l Hoganas AB
l GKN Plc.
l Rio Tinto
l Allegheny Technologies Incorporated
l American Chemet Corporation
l Carl Schlenk AG
l Hitachi Chemical Co., Ltd
l Metaldyne performance Group Inc.
Market Report Scope:
Metal powders are widely used in various applications, including welding, chemical processes, metallurgical processes, iron fortification, and friction, among others. The increased demand in key industries such as batteries, motor vehicles, electrical equipment, and machinery manufacturing will be the primary driver for the growth of this market. The significant growth of the metal powders market worldwide can be mainly attributed to the remarkable expansion of the manufacturing sector in established and emerging nations. Additionally, the rise in research and development expenditure, technological advancements, and the substantial increase in aerospace and automotive production capacities have also contributed to the growing global demand for metal powder.
Market Analysis:
Additive manufacturing or 3D printing through powdered metal demand has been increasing due to strong functional properties, faster production, and high reusability. Several manufacturers have transitioned to optical dispersion and image processing particle characterizing devices, gaining the advantages of lower costs and higher data quality. The use of metal powders in the automotive sector is increasing due to the innovation of new complex components, cutting costs, and promoting sustainability. Metal powders are in high demand in the automotive sector due to increasing demand for lightweight and fuel-efficient automobiles. The application of metal powders in the aerospace sector helps to reduce aircraft weight, improving fuel efficiency.
Segment Analysis:
By type, the ferrous type segment is expected to dominate the market over the forecast period due to its properties such as high heat transmission and ductility.
By End-users, The aerospace sector reported a significant revenue stake in the total metal powder market.
By Raw Material:
l Virgin PET
l Recycled PET
By Type
l Ferrous
l Non-ferrous
l Others
By Application
l Transportation & logistics
l Industrial
l Construction
l Electrical & electronics
l Others
By Production Method
l Physical
l Chemical
l Mechanical
By Compaction Technique
l Cold Compaction
l Hot Compaction
By Metal
l Scrap/Recycled metals
l Ore/Pure metal
By End Users
l Aerospace
l Aviation
l Energy
l Medicine
l Other
Key Regional Development:
The Asia Pacific accounted for the largest volume share of 35% in 2022, primarily from the automotive and aerospace industries. North America is expected to grow at a significant growth rate from 2023 to 2030. The increasing popularity of electric and hybrid vehicles has decreased the demand for various sintered parts in transmissions and engines.
Key Takeaways:
· A rise in the manufacturing output of industrial and automotive components is estimated to generate demand for metal in these industries.
· The intensifying need for lightweight components in the automotive industry has offered stimulus for the growth of the global metal powder market.
Recent Developments:
· In Nov 2023, HP Inc. made a significant announcement regarding its strategic collaboration with Sandvik AB, a renowned company based in Sweden. The purpose of this collaboration is to introduce cutting-edge materials, including superalloys and 316L stainless steel, to HP's revolutionary Metal Jet Additive Manufacturing technology.
· In Sept 2022, Hitachi Metals, Ltd., Japan, released its ADMUSTER® C21P nickel-base alloy powder for metal Additive Manufacturing.
· In July 2021, Burloak Technologies announced the opening of a second additive manufacturing facility in Camarillo, California, to complement its Additive Manufacturing Centre of Excellence.
· In May 2021, Rio Tinto successfully developed and tested a steel powder designed for 3-D printing applications at its Rio Tinto Fer et Titane (RTFT) metallurgical complex in Sorel-Tracy, Quebec.
Related Reports:
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Contact Us:
Akash Anand – Head of Business Development & Strategy
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
Comments