Metal Powders Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Germany, Italy, Japan - Size and Forecast 2024-2028

Metal Powders Market Size 2024-2028 

The metal powders market size is projected to increase by USD 2.25 billion, at a CAGR of 6.26% between 2023 and 2028. Market growth hinges on several factors, including the expanding utilization of powder metallurgy (PM) technology, which offers cost-effective and efficient manufacturing solutions across various industries. Additionally, there's a growing emphasis on titanium metal powders, driven by their exceptional properties and suitability for advanced applications such as aerospace and medical implants. However, environmental concerns surrounding the production and use of metal powders present challenges to market expansion. Issues such as resource depletion, energy consumption, and waste generation necessitate sustainable practices and regulatory compliance within the industry. Despite these challenges, the increasing adoption of PM technology and the demand for titanium metal powders signify promising avenues for market growth. By addressing environmental issues and leveraging technological advancements, stakeholders can capitalize on emerging opportunities and drive sustained growth in the market.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

In the market, the volume of metal powders consumed in the iron, aluminum, and bronze markets is forecasted to grow steadily. Despite these challenges, the market continues to expand, with the ferrous type segment holding a substantial share. The industry's resilience can be attributed to its ability to adapt to market conditions and the versatility in various applications. Factories producing metal powders have implemented measures to ensure continuity, such as implementing safety protocols and optimizing production processes.

Application Insights

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. Furthermore, metal powders are often used in the production of metal detectors, enhancing their sensitivity and accuracy in identifying various metals.

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The automotive segment was valued at USD 1.27 billion in 2018. 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. 

Type Insights

The ferrous metal powder?segment will account for the largest share of this segment.? Ferrous metal powder, derived from iron-based metals like iron, steel, and alloys, is integral to various applications such as powder metallurgy, welding, and surface coating. Its use extends to the production of ferrous-based products like magnets and batteries. Market growth for ferrous metal powder is fueled by increasing demand in sectors like automotive and aerospace, driven by trends favoring energy-efficient and lightweight materials. Key players in the global metal powder market include Hoganas AB, GKN Sinter Metals, and Rio Tinto Metal Powders. Renowned for their strength and durability, ferrous metal powders are poised for growth, catering to applications that demand high performance and reliability.

Regional Analysis

North America Region

North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.

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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.

Market Dynamics

The market encompasses the production and distribution of various types of metal powders, including ferrous and non-ferrous, for applications in diverse industries. One significant sector driving the demand for metal powders is 3D printing. However, the ongoing lockdowns and travel restrictions have led to quarantined workforces and the shutdown of businesses, causing disruptions in the supply chain. The automotive sector, a major consumer of metal powders, has been impacted by these challenges. The shift towards lightweight electric vehicles in emerging countries is expected to boost the demand in the chemical method segment.

Key Market Driver

Increasing use of PM technology is the key factor driving the market. Metal powders play a pivotal role in the global manufacturing landscape, particularly in the context of advanced technologies such as 3D printing. The pandemic-induced lockdowns and travel restrictions have disrupted traditional supply chains, leading to a surge in demand for metal powders in various industries. PM technology, a chemical method for producing metal powders, has gained significant traction in sectors like automotive, aerospace, medical, and electronics. In the automotive sector, PM technology is used to manufacture lightweight, complex-shaped parts for fuel-efficient and lightweight electric vehicles. The ferrous type segment, which includes iron, aluminum, bronze, nickel, and other metals, dominates the market.

Furthermore, 3D-printing technologies have revolutionized the production of metal powders, offering benefits such as cost-effectiveness, reduced material waste, and improved bulk properties like reactivity, flow ability, compressibility, and porosity. These properties are crucial for various applications, including the production of brake pads, magnetic products, pulleys, and other components used in electronic devices. Despite the numerous benefits, the environmental implications of production and use must be addressed in the long term. Short-term driving factors include the growing market demand for metal powders, the need for high-performance materials, and the increasing adoption of PM technology in various industries.

Primary Market Trends

Increasing focus on titanium metal powders is the primary trend shaping the market. The market has experienced significant growth in recent years, with titanium metal powders being a key focus. Factors driving this trend include the expanding demand for lightweight, robust materials in sectors such as aerospace, automotive, and medical. Furthermore, the high melting points of certain metal powders make them suitable for high-temperature applications. The application of metal powders in 3D printing, or additive manufacturing, has seen a notable surge in recent times. However, the market has faced challenges due to lockdowns and travel restrictions, leading to disrupted supply chains and quarantined workforces. This, in turn, has resulted in the shutdown of factories and production delays for various metal powders, including iron, aluminum, bronze, nickel, and others. Despite these hurdles, the market demand for metal powders remains strong, particularly in the automotive sector. 

Additionally, the bulk properties of metal powders, such as reactivity, flow ability, compressibility, and porosity, are crucial factors influencing their application. Hardenability and brake pad performance are essential considerations for the production of magnetic products and pulleys in various industries. In summary, the market is experiencing significant growth, driven by the demand for lightweight, high-strength materials in various industries. Despite challenges posed by the pandemic, the market is expected to continue its upward trajectory, with emerging countries playing a pivotal role in its expansion. The use of metal powders in additive manufacturing and various industries, including automotive, medical, and defense, is expected to remain a key trend in the coming years.

Major Market Restraints

Environmental issues regarding metal powders is the major challenge that affects the market growth. Metal powders, a crucial component in various industries, have gained significant attention due to their extensive applications in sectors such as 3D printing, automotive, and medical industries. The global market for metal powders is experiencing notable growth, driven by factors like travel restrictions and lockdowns leading to increased demand for lightweight electric vehicles and 3D-printed components. The chemical method is a common process for producing metal powders, which are available in various types, including ferrous, aluminum, bronze, nickel, and others. The health and environmental implications of metal powders are of growing concern. Airborne metal dust, often invisible, can enter the human body through skin absorption and ingestion, leading to health issues. Combustion and subsequent inhalation pose the most significant risk, with occupational hazards being rampant. Harmful effects of increased exposure range from minor impairment to life-threatening conditions, including pneumoconiosis, systemic poisoning, hard metal disease, inflammatory lung injuries, cancer, and allergic responses.

However, the disrupted supply chain due to quarantined workforces and factory shutdowns has posed challenges to the market. The environmental implications of metal powder production and usage are also a concern, with efforts being made to mitigate these impacts through sustainable production methods and recycling initiatives. In conclusion, the market is experiencing significant growth, driven by various factors, including the automotive sector, 3D printing, and the increasing demand for lightweight electric vehicles. However, the health and environmental implications of metal powders cannot be overlooked, and efforts are being made to mitigate these risks through sustainable production methods and recycling initiatives.

Key Companies & Market Insights

Companies are implementing various market trends and analysis strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market and result in market growth analysis.

• Alcoa Corp: The company offers different types of metal powders, especially Alcoa aluminum powder.

The  market  growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

American Chemet Corp., AMETEK Inc., AMG Advanced Metallurgical Group NV, Allegheny Technologies Inc., BASF SE, Carpenter Technology Corporation, CNPC Powder Group Co. Ltd., FOMAS S.p.A., GKN Sinter Metals Engineering GmbH, Hoganas AB, Jiande Yitong Metal Powder Co. Ltd., JFE Holdings Inc., Kennametal Inc., Kymera International, Linde Plc, Miba AG, Rio Tinto Ltd., Sandvik AB, and voestalpine AG

The market analysis and report of qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. The market growth and trends focus on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.

Global Market Customer Landscape

Market Analyst Overview:

The market is a significant sector in the global industrial landscape, encompassing a wide range of products and applications. These powders are essential in various industries, including automotive, aerospace, construction, electronics, and healthcare. The primary types of metal powders include aluminum, copper, nickel, and titanium. The demand for metal powders is driven by their unique properties, such as high strength, lightweight, and excellent conductivity. These powders are used in various manufacturing processes, including additive manufacturing, powder metallurgy, and mechanical alloying. The market is expected to grow due to the increasing adoption of advanced manufacturing technologies, such as 3D printing and automation.

The Additive Manufacturing (AM) technology market, which includes the production of metal powders, is experiencing significant growth in various industries. According to industry forecasts, the global volume of kilo tons produced is projected to increase substantially in the short term. This trend is driven by the shutdown of traditional manufacturing businesses in favor of AM technology in sectors such as the medical and defense industries. In the medical industry, AM technology is revolutionizing the production of lightweight parts, including dental implants and surgical instruments. In the defense industry, AM technology is being used to create complex components for aircraft and military vehicles, such as thrust and backup washers, differential gear sets, helical gears, bevel gears, planetary gears, sprockets, output pulleys, fuel system flanges, exhaust flanges, access covers, and spacers. The global total production of vehicles is expected to see a significant increase in the use of AM technology, particularly in the production of metal powders for the automotive industry. The use of AM technology in the production of these components offers numerous advantages, including reduced weight, increased strength, and improved efficiency. In summary, the metal powders market is experiencing significant growth due to the increasing adoption of AM technology in various industries, including the medical and defense sectors, and the automotive industry. The production of metal powders is a critical component of this trend, enabling the creation of complex, lightweight parts for a range of applications.

Furthermore, the growing demand for lightweight and high-performance materials in various industries is also expected to fuel the growth of the market. The market is competitive, with several players operating in the market. These players focus on expanding their product portfolios, increasing production capacity, and investing in research and development to meet the evolving demands of their customers. In conclusion, the market is a dynamic and growing sector, driven by the increasing demand for high-performance materials in various industries. The market is expected to continue its growth trajectory due to the adoption of advanced manufacturing technologies and the growing demand for lightweight and high-performance materials.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market forecast during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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