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The metal powders market size is estimated to grow at a CAGR of 6.81% between 2022 and 2027. The market size is forecast to increase by USD 2,340.91 million. The growth of the market depends on several factors, including the increasing use of PM (Powder Metallurgy) technology, increasing demand for metal powders from structural auto parts, and increasing demand from additive manufacturing (AM).
This metal powders market report extensively covers market segmentation by application (automotive, aerospace and defense, healthcare, construction, and others), type (ferrous metal powder, non-ferrous metal powder, and alloy), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing use of PM technology is notably driving the market growth, although environmental issues regarding metal powders may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing use of Powder Metallurgy (PM) technology is notably driving the metal powders market growth. The increasing use of PM technology is the main driver for the market. PM is a manufacturing process that involves the production of metal powders and their subsequent use to manufacture intricately shaped parts and components. PM technology is widely used in various industries such as automotive, aerospace, medical, and electronics due to its ability to create complex shapes with high precision and efficiency. The technology also offers a number of other benefits, such as cost-effectiveness, reduced material waste, improved mechanical properties, and increased design flexibility.
As a result, the demand for metal powders specifically designed for use in PM technology is increasing. This has resulted in an increase in metal powder production and corresponding growth in the market. Apart from PM technology, other factors driving the growth of the market include the growing demand for metal powders in additive manufacturing (3D printing). Therefore, the increasing use of metal powders in the production of cutting tools and abrasives as well as the increasing demand for metal powders in the manufacture of electrical components such as capacitors and inductors will drive market growth during the forecast period.
Increasing focus on titanium metal powders is a key trend influencing the metal powders market growth. In recent years, the global metal powder market has focused on titanium metal powder. This could be due to a number of factors, including the growing demand for lightweight and durable materials in industries as diverse as aerospace, automotive, and medical. Titanium metal powders have excellent mechanical properties including high strength, low density, and good corrosion resistance, making them ideal for use in a wide variety of applications requiring these properties. In addition, titanium metal powders have a high melting point, making them suitable for use in high-temperature applications.
The use of titanium metal powder in additive manufacturing, or 3D printing, has grown rapidly in recent years. Additive manufacturing allows the production of complex shapes and structures with great precision and accuracy, and titanium metal powders are ideal materials for this process due to their excellent properties. Hence, the intense focus on titanium metal powder in the market is expected to continue during the forecast period, driven by the growing demand for lightweight and high-strength materials in the future.
Environmental issues regarding metal powders are challenging the metal powders market growth. Metal dust is a severe problem for human health and the environment. Metal dust particles are often not easily visible, especially when suspended in the air. Therefore, metal dust in the air can enter the human body through the absorption and digestion of the skin and cause health problems. The problem most associated with metal dust is combustion and subsequent inhalation. Occupational hazards from metal dust are common. Harmful effects of increased exposure to metal powders range from mild impairment to life-threatening conditions, with pneumoconiosis, systemic poisoning, hard metal disease, inflammatory lung damage, cancer, and allergic reactions are more common. The health risks associated with metal dust depend on the nature and type of the dust (chemical, mineral, and physical properties). In addition, the intensity of the hazard depends on the diameter of the particles, dust concentration, and exposure time. Finely ground combustible metal powders can also cause an explosion.
Regulations and guidelines for metal powder wastewater monitoring pose a challenge to the market. The Environmental Protection Agency (EPA) sets regulations on various processes and the use of metal powders. Limiting the production or consumption of metal powders will hinder demand for metal powders. As a result, environmental concerns related to metal powder production could hinder the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Metal Powders Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alcoa Corp: The company offers different types of metal powders, especially Alcoa aluminum powder.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the automotive segment will be significant during the forecast period. The market finds important applications in the automotive industry. Metal powders, such as aluminum, copper, iron, and steel powders, are used to make various automotive parts, including engine parts, brakes, bearings, gears, and clutch discs. Rising demand for lightweight materials and high-performance components in the automotive industry is driving the growth of the market. The use of metal powders in the automotive industry offers several advantages, such as increased strength, improved wear resistance, reduced weight, and increased efficiency.
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The automotive segment was valued at USD 1,219.97 million in 2017 and continued to grow until 2021. The growing demand for electric vehicles drives the demand for metal powders in the automotive industry. Metal powders are used in the manufacture of battery components, such as anode and cathode materials. The increased use of electric vehicles is expected to drive demand for metal powder in the coming years. In conclusion, the automotive industry is an important application area for metal powders, and the demand for these powders is expected to increase during the forecast period due to the growing demand for the material.
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North America is estimated to contribute 36% to the growth of the global metal powders market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America is expected to grow due to the strong demand for iron from the steel industry. Iron powder is widely used in applications such as welding, steel cutting, and surface coating. Growing steel demand from the railway, manufacturing, auto, infrastructure, power, machinery, and equipment industries will drive the market in North America during the forecast period. The United States is the largest consumer of iron powder in North America. There is growing demand from the automotive industry, which widely uses PM parts. PM parts are used for many applications in the automotive industry, such as engine accessories and sensors. The PM process is well-developed in Canada and plays an important role in the automotive industry. Although Canada's auto industry is dominated by foreign (mostly American) companies, Canada has a very strong domestic auto parts manufacturing sector.
In 2020, the COVID-19 pandemic had a negative impact on the market, mainly due to the closure of several manufacturing plants across the world. This has a negative effect on the demand for metal powders. However, the launch of large-scale vaccination campaigns led to the lifting of lockdown restrictions in 2021. This led to the resumption of activity in end-user industries such as construction. , electrical and electronic, automotive, food and beverage, this has increased the demand for metal powder globally. Hence, the increasing adoption of diverse metals and mining in various applications is expected to drive the growth of the market during the forecast period.
The metal powders market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global metal powders market as a part of the global diversified metals and mining market within the global materials market. The global diversified metals and mining market includes companies engaged in the production or extraction of metals and minerals such as non-ferrous metals (excluding bauxite), salt and borates, phosphate rock, and diverse metal mining activities. Non-ferrous metals mainly include lead, nickel, tin, titanium, zinc, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium and zirconium.
Metal Powders Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.81% |
Market growth 2023-2027 |
USD 2340.91 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.59 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, China, Japan, Germany, and Italy |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alcoa Corp., American Chemet Corp., AMETEK Inc., AMG Advanced Metallurgical Group NV, Allegheny Technologies Inc., BASF SE, Carpenter Technology Corp., CNPC Powder Group Co. Ltd., FOMAS S.p.A., GKN Sinter Metals Engineering GmbH, Jiande Yitong Metal Powder Co. Ltd., Hoganas AB, JFE Holdings Inc., Kennametal Inc., Kymera International, Linde Plc, Miba AG, Rio Tinto Ltd., Sandvik AB, and Voestalpine AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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