Metal Powder Market Forecasts to 2028 - Global Analysis By Metal Type (Non Ferrous and Ferrous), By Production Method (Chemical Method, Mechanical Method and Physical), By Application, By End User and By Geography

Metal Powder Market Forecasts to 2028 - Global Analysis By Metal Type (Non Ferrous and Ferrous), By Production Method (Chemical Method, Mechanical Method and Physical), By Application, By End User and By Geography

According to Stratistics MRC, the Global Metal Powder Market is accounted for $6.83 billion in 2022 and is expected to reach $11.46 billion by 2028 growing at a CAGR of 9.0% during the forecast period. Metals that have been reduced to powder form are referred to as metal powder. Due to the expanding economy and rising investment costs, a growing demand for automobiles is anticipated to fuel market expansion. The market expansion might be fueled by the expanding automotive sector as well as the rapid industrial development of nations like India, China, and Japan.

According to the Statistica, the value of new construction in the U.S. was 1.16 trillion and is expected to grow in the coming years on account of ongoing investments, especially in New York City.

Market Dynamics:

Driver:

Growing Demand from the Automotive Industry

Global demand for automobiles is being driven by an increase in purchasing power and rapid population growth. The use of powdered metals in the automotive sector is related to metallurgy, which aids in the production of several parts such as bearings, camshaft pulleys, crankshaft sprockets, and gears. Cutting, welding, and the production of structural parts are further applications for powder metallurgy. Furthermore, the automobile sector is paying attention to procedures like laminate moulding and metal injection moulding since they can produce intricate designs.

Restraint:

Risks associated with higher consumption of iron-rich products

In the food industry, there is a rising need for iron powder for iron supplements and the management of iron deficiency symptoms. However, overconsumption of iron-rich supplements can result in the onset of long-term disease. The gastro-intestinal system may be negatively impacted by excessive iron ingestion. Vomiting, diarrhoea, and abdominal pain are symptoms of an iron imbalance. The liver and brain suffer considerable damage from iron accumulation in the organs over time.

Opportunity:

Increasing applications of the product in the automotive industry for manufacturing of additives

In the production of additives, metal powder is becoming more common. In the process of producing parts and coatings made of various metals, it increases adaptability while reducing waste. Zinc, aluminium, iron, manganese, tin, cadmium oxide, and nickel powder are a few products that are readily available on the market. Furthermore, the product supports sustainable development. These solutions can assist in addressing issues like the demand for renewable energy sources and resource scarcity.

Threat:

Size restrictions

PM parts frequently have size restrictions that can make some designs impossible to manufacture. In the sector, the largest presses weigh around 1,500 tonnes. This restricts the size of a practical portion to 40–50 square inches (sq. in.). The average press size is more practically in the 500-ton range, so make part development plans accordingly. Making precisely formed pieces can be difficult as well. High-caliber metal part manufacturers can overcome this obstacle and may even offer design assistance. In general, parts are not as ductile or as strong as cast iron or forged parts.

Covid-19 Impact:

An unexpected demand was experienced by market participants. Applications including industrial services, operations, and repairs have seen a minor increase in demand at the companies. To accomplish their corporate objectives, their staff and management must overcome obstacles. During the COVID-19 epidemic, automotive companies were also facing closures, and businesses were either closing their operations or reducing their production capacity as a result of a lack of workers and raw materials. As customers became more concerned with having necessary goods and services, demand for automobiles decreased.

The ferrous segment is expected to be the largest during the forecast period

Because the ferrous metal type includes iron and steel, the ferrous segment is predicted to dominate the market over the projection period. Several products, including dental restoration, oil-free bearings, automotive transmission gears, orthopaedic implants, and aviation brake pads, use these materials. Moreover, ferrous metal is predicted to drive market expansion due to its superior tensile strength, lower cost, and wide range of flexibility. However, for financial gain and to increase capacity along the value chain, businesses sell ferrous powder products to the end consumer.

The mechanical method segment is expected to have the highest CAGR during the forecast period

Due to its higher efficiency and adaptability, the mechanical method segment grew at the highest CAGR and is anticipated to expand at the highest rate in the market during the forecast period. Moreover, it involves milling, mechanical alloying, electrolysis, and the spray process, as well as the atomization of water and gas. This process needs specialised equipment to produce metal powder.

Region with largest share:

During the projection period, the Asia-Pacific region is likely to experience the largest market share as it is expanding due to the influence of China, Japan, India, and South Korea. This is largely because China is a manufacturing hub for goods ranging from electronic goods to automotive original equipment manufacturers (OEMs). Moreover, due to the existence of several small- and medium-sized manufacturers, China accounts for the largest portion of the world's production of powdered metal in the Asia Pacific region.

Region with highest CAGR:

During the forecast period, the North America region is estimated to have the lucrative growth rate in the metal powder market, as the U.S. market for technologies like powder forging and additive manufacturing is expected to expand due to rising demand and utilization. North American market growth will be aided by the presence of many aircraft original equipment manufacturers, including Textron in the United States, Bombardier in Canada, and Boeing in the region. Additionally, the market will be driven by advances in sophisticated manufacturing technologies and rising R&D costs. Many sintered metals used in transmissions and engines in the region are experiencing a decline in demand as electric and hybrid automobile production soars.

Key players in the market

Some of the key players in Metal Powder market include Alcoa Inc., Carpenter Technology Corporation, BASF SE, Allegheny Technologies Incorporated, Changsha Hualiu Metal Powders Ltd, Advanced Technology (Bazhou) Special Powder Ltd, CNPC Powders, Hitachi Chemicals Co. Ltd, Metaldyne Performance Group, GKN PLC, Miba AG, Hoganas AB, POLEMA, RIO Tinto, Pometon Powder, Yingtan Longding New Materials & Technologies Ltd and Sandvik AB.

Key Developments:

In 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.

In 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.

In May 2021, Rio Tinto developed a steel powder that is designed for 3D printing at its Rio Tinto Fer et Titane (RTFT) metallurgical complex located in Sorel-Tracy, Quebec.

In November 2020, Mimete S.r.l., Biassono, Monza, Italy released two iron powders, Duplex MARS F51 and Super duplex F53. The launch is aimed to cater to the demand from power generation, oil & gas, and aerospace industries for additive manufacturing applications.

In October 2020, Sumitomo Electric Industries, Ltd. headquartered in Osaka, Japan developed a power magnetic core for axial gap motors. The power magnetic core is made by die-pressing soft-magnetic iron powder into a three-dimensional shape. This enabled Sumitomo Electric to cater to the recent growing demand for lightweight and high-performance motors.

Metal Types Covered:
• Non Ferrous
• Ferrous

Production Methods Covered:
• Chemical Method
• Mechanical Method
• Physical

Applications Covered:
• Powder Metallurgy
• Additive Manufacturing
• Metal Injection Molding
• Other Applications

End Users Covered:
• Manufacturing
• Automotive
• Electrical & Electronics
• Medical
• Industrial
• Construction
• Healthcare
• Aerospace and Defense
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements