Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The metal powder market is a dynamic and evolving sector, shaped by a combination of factors that influence both supply and demand. One of the primary drivers of market dynamics is the growing demand for metal powders across various industries, including automotive, aerospace, and healthcare. As these industries continue to advance and seek more efficient and innovative manufacturing processes, the need for high-quality metal powders has surged.
Supply-side dynamics in the metal powder market are heavily influenced by raw material availability and extraction processes. The accessibility and cost of source materials such as iron, aluminum, and titanium impact the overall production and pricing of metal powders. Fluctuations in commodity prices and geopolitical events that affect mining and extraction operations contribute to the variability in the supply chain.
On the demand side, technological advancements play a crucial role in shaping market dynamics. The development of additive manufacturing, or 3D printing, has been a significant catalyst for the increased use of metal powders. The ability to create complex and lightweight structures with improved strength has driven the adoption of metal powder in this rapidly growing industry. Additionally, the demand for metal powders in traditional manufacturing processes, like powder metallurgy, continues to be strong, driven by the need for precision components in various applications.
Market dynamics are also influenced by regulatory factors, including environmental and safety standards. As governments worldwide implement stricter regulations to minimize environmental impact and ensure workplace safety, metal powder producers are compelled to adopt sustainable practices and adhere to stringent quality standards. Compliance with these regulations not only adds operational challenges but also affects production costs, thereby impacting market dynamics.
Global economic conditions and trade policies also contribute to the market dynamics of metal powders. Tariffs, trade tensions, and economic downturns can affect the cost of raw materials, disrupt supply chains, and impact the overall demand for metal powders in different regions. Companies operating in the metal powder market must navigate these uncertainties to remain competitive and sustainable in the long term.
Market dynamics are further shaped by competitive forces within the industry. The presence of numerous suppliers and the continuous entry of new players contribute to a competitive landscape. Innovation, research and development, and strategic partnerships become critical factors for companies seeking a competitive edge. Price competition, product differentiation, and the ability to meet evolving customer demands are essential elements that drive market dynamics in the highly competitive metal powder sector.
The metal powder market is characterized by a complex interplay of factors that collectively shape its dynamics. From technological advancements and regulatory pressures to economic conditions and competitive forces, the industry must adapt and evolve to thrive. Companies that successfully navigate these challenges, embrace innovation, and prioritize sustainability are poised to capitalize on the growing demand for metal powders across diverse industrial applications.
Metal Powder Market Highlights:
Global Metal Powder Market Overview
The Metal Powder Market Size was valued at USD 7.2 Billion in 2022. The Metal Powder industry is projected to grow from USD 7.65 Billion in 2023 to USD 11.1 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.5% during the forecast period (2023 - 2030). Metal powder refers to the metals that are broken down into powder form. Growing product demand for automobiles is expected to drive market growth due to economic expansion as well as increasing investment expenditure. The growing automotive industry along with rapid industrial developments in countries, such as India, China, and Japan, may drive the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Metal Powder Market Trends
-
Growing Demand from the Automotive Industry to Boost the Metal Powder Market Growth.
Rise in spending power and rapid population growth are the main drivers surging the demand for automotive vehicles. Consumption of powdered metals in the automotive industry is attributed to metallurgy, which helps in the manufacturing of various components such as bearings, camshaft pulleys, crankshaft sprockets, and gears. Powder metallurgy is also used in cutting, welding, and manufacturing structural parts. In addition, processes, such as laminate molding and metal injection molding, are attracting attention in the automotive industry as they can create complex designs.
Additionally, Automobile manufacturers, such as Mercedes-Benz, Porsche, and Volkswagen, use laminated molding techniques to manufacture components. These initiatives and technological advances are likely to increase during the forecast period and can add to the market growth.
Metal Powder Market Segment Insights
Metal Powder Metal Type Insights
The Metal Powder market segmentation, based on Metal Type, includes ferrous and non-ferrous. The ferrous segment is anticipated to dominate the market during the forecast period. The ferrous metal type includes iron and steel. They find applications in a variety of products such as dental restoration, oil-less bearings, automotive transmission gears, orthopedic implants, and aircraft brake pads.
Metal Powder Production Method Insights
Based on the Production Method, the Metal Powder market segmentation includes the mechanical method and chemical method. The mechanical method segment accounted for the majority share in the market owing better efficiency and versatility of the method. It includes water and gas atomization, milling, mechanical alloying, electrolysis, and spray method. This method requires special devices for the production of powdered metal.
Metal Powder End-use Industry Insights
Based on End-use Industry, the Metal Powder market segmentation includes automotive, manufacturing, medical, electrical & electronics, and others. The automotive segment held the majority share in the market and is expected to continue to do so during the forecast period. Powdered iron is utilized in the automotive sector for processes such as particle metallurgy, hot isostatic pressing, sintering, and injection molding. Increasing vehicle production, rising use of technology in vehicles, and shifting focus to lighter vehicles are key attributes that determine the market growth. Moreover, manufacturers are moving from standard products to customized products, boosting market growth. The emergence of laminated molding in the automotive sector is likely to drive market growth. Powdered metal is used in many manufacturing techniques to create metal parts. With this product, unlike traditional machining, there is no waste and there is flexibility to design a wide variety of metal and alloy parts. Such favorable properties are expected to promote the growth of the segment.
Figure 2: Metal Powder Market, by Metal type, 2023 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Metal Powder Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region is likely to reach favorable growth rates during the forecast period. China, Japan, India, and South Korea are driving the growth of the market in the region. This is largely due to China being a manufacturing center for products covering automotive OEMs to electronic products. In Asia Pacific, China has the largest share in powdered metal production due to the presence of various medium & small-sized manufacturers. Increasing aircraft delivery and ordering facilities due to the demand for new-generation aircraft will boost regional demand. Asia Pacific is a key hub for manufacturers supplying powdered metal to Europe and North America for aerospace OEMs.
Figure 3: METAL POWDER MARKET SHARE BY REGION 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
North America may witness significant growth during the forecast period. Growing demand and usage of technologies, such as powder forging and additive manufacturing, in the U.S., is likely to propel the North America market. The presence of several aircraft OEMs, including Textron in the U.S., Bombardier in Canada, and Boeing in the United States will increase market share in North America. In addition, the improvement of advanced manufacturing technology accompanying the increase in R&D expenses will drive the market. The proliferation of electric and hybrid vehicles is reducing the demand for many sintered metals used in transmissions and engines in the region. However, powder forging generation is expected to provide beneficial opportunities for market participants in the coming years.
Europe accounts for the third-largest metal powder market share due to the increasing demand for automobiles. In addition, Europe is an important production base for passenger cars, which is driving the growth of the powdered metal industry.
Metal Powder Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Metal Powder market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Metal Powder industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Metal Powder. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Metal Powder industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Metal Powder industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Metal Powder market players, including Sandvik AB (Sweden), Carpenter Technology Corporation (U.S.), Hoganas AB (Sweden), and GKN Plc. (U.K.), and others, are attempting to increase market demand by funding R&D initiatives.
Sandvik Group (also known as Sandvik Aktiebolag) is an engineering company that operates in the areas of mining and rock excavation, metal-cutting, and materials technology. It offers metal-cutting and tooling systems, including boring, drilling, milling, reaming, and other products.
Also, Carpenter Technology is a company engaged in the manufacturing, fabrication, and distribution of specialty metals. It operates in two business segments: Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). SAO segment provides cast, wrought, and powder metallurgy high-temperature superalloys, high-strength steels, implantable, magnetic, and controlled expansion alloys, etc.
Key Companies in the Metal Powder market include
-
Sandvik AB (Sweden)
-
Carpenter Technology Corporation (U.S.)
-
Hoganas AB (Sweden)
-
GKN Plc. (U.K.)
-
Rio Tinto (U.K.)
-
Allegheny Technologies Incorporated (U.S.)
-
American Chemet Corporation (U.S.)
-
Carl Schlenk AG (Germany)
-
Hitachi Chemical Co., Ltd (Japan)
-
Metaldyne Performance Group Inc (U.S.).
Metal Powder Industry Developments
April 2022- Kymera International, a specialty materials company, acquired AmeriTi Manufacturing Company in Detroit, Michigan, U.S. The acquisition strengthens the company's presence in the aerospace, medical, defense, and industrial markets.
June 2021- BASF opened a new Center of Excellence Lab for its Catamold business in Shanghai, China. The new facility will serve as a center of excellence for solutions and products for the Metal Injection Molding (MIM) market in China and other Asian countries. Catamold is a ready-to-use pellet for powder injection molding. It consists of metal powder and a bespoke binder.
Metal Powder Market Segmentation
Metal Powder Metal Type Outlook
-
Ferrous
-
Non-Ferrous
Metal Powder Production Method Outlook
-
Mechanical Method
-
Chemical Method
Metal Powder End-use Industry Outlook
-
Automotive
-
Manufacturing
-
Medical
-
Electrical & Electronics
-
Others
Metal Powder Regional Outlook
-
North America
-
US
-
Canada
-
-
Europe
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
-
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
