Metal Powder - Global Market Outlook (2021 - 2028)

Metal Powder - Global Market Outlook (2021 - 2028)

According to Stratistics MRC, the Global Metal Powder Market is accounted for $4,216.56 million in 2021 and is expected to reach $6,256.89 million by 2028 growing at a CAGR of 5.8% during the forecast period. Metal powder is powdered form of various metals such as aluminum, steel, and iron. It is widely used in several applications of various industries. These industries include automotive, healthcare, firearms, and electronics. Metal powders are extensively used for the process of thermal spraying, filling plastics, and fabricating sintered parts among others.

Market Dynamics:

Driver:

Rising demand from various end user industries

There is a huge demand from the end user industries such as automotive and healthcare. Increasing sales of automotive components is a positive sign for the growth of the market for metal powder, for instance, the Indian auto component industry witnessed a high growth rate. With a growing focus on lightweight and electric vehicles, the demand for metal powder is expected to spur in near future. The metal powder is largely used in the firearms industry for triggers, rifle bolt, and pistol breech block among others.

Restraint:

High cost requirements

The cost of the metal powder used in the processes is high as compared to other raw materials, which are used in casting and forging. The tooling and equipment costs are quite high, especially when the required production volume is less. A few powders are even difficult to store without some deterioration. This is particularly a limitation when production volumes are small. Large or complex shaped parts are difficult to produce by metal powder process. The relatively high initial investments and high R &D cost are the key restraints for the market growth of metal powder.

Opportunity:

Technological advancements

With rapid technological advancements complementing the use of metal powders in a large number of products, such as rocket fuels, paint pigments, printing inks, and many others, opportunities in the metal powder market continue to multiply at an unprecedented pace. This falls in line with the growing awareness about the role of metal powders as base materials for producing metallic components through the powder metallurgy route or the emerging field of additive manufacturing. Gauging the high adoption momentum and opportunistic value of metal powder, are paving the way for high-purity solutions, thereby, shaping the growth of the metal powder market.

Threat:

Limited use in the production of three-dimensional products

Metal powder has limited use in the production of three-dimensional products, i.e. through-thickness or axial direction. Metal powders are relatively expensive feedstock as compared to other raw materials such as steel bars and billets. Furthermore, the capital cost of metal powder processing equipment is comparatively higher. Hence, it needs to be amortized over a long production run.

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

Most metallic powders are ferrous metallic powders. Metallic elements are generally silvery white, when the metal is under certain conditions, it will present in the form of black powder. Metal powder refers to metal particle group with size less than 1mm. It includes single metal powder, alloy powder and some refractory compound powder with metal property, which are the main raw materials of powder metallurgy. Ferrous segment is likely to have a huge demand owing to increasing utilization of iron and steel powder for bearings and filter parts, magnetic materials, and friction parts in the automobile industry, and high strength and wear-resistant parts.

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

In atomisation, molten metal is separated into small droplets and frozen rapidly before the drops come into contact with each other or with a solid surface. Typically, a thin stream of molten metal is disintegrated by subjecting it to the impact of high-energy jets of gas or liquid. In principle, the technique is applicable to all metals that can be melted and is used commercially for the production of iron, copper, alloy steels, brass, bronze, low-melting-point metals such as aluminum, tin, lead, zinc, and cadmium, and, in selected instances, tungsten, titanium, rhenium, and other high-melting-point materials. Atomisation is quite effective for creating metal powders and can be used on all types of melted metal.

Region with largest share:

North America is projected to hold the largest market share owing to the growth in the manufacturing segment. The U.S. is the major regional consumer of metal powder, where the growing production of automotive components is anticipated to propel the market growth. Also, the other industries, including lawn and garden, industrial, off-road, and agriculture, are also expected to increase the demand for metal powder products. For instance, Flex-N-Gate opened a facility for producing automotive parts in Detroit for Ford.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR due to the increasing competition, consumer awareness, rising consumer spending, demand for powder metallurgy manufactured components, and technological advancements. The market for Metal Powder in developing countries such as China and India are estimated to grow at a relatively higher rate during the forecast period. China is estimated to grow faster than any other country because of its strong economic growth along with growing demand from end-user industries and rapid urbanization. Developing countries such as China and India are estimated to witness the relatively high growth rate in forecast period for market. China is estimated to grow faster in comparison with any other country because of its rapid urbanization as well as strong & increasing demand from end-user industries.

Key players in the market

Some of the key players profiled in the Metal Powder Market include BASF SE, Hitachi Chemicals Co. Ltd., Voestalpine BÖHLER Edelstahl GmbH & Co KG, Metaldyne Performance Group, Allegheny Technologies Incorporated, Carpenter Technology Corporation , Praxair Surface Technologies Inc., Sandvik AB, ATI Powder Metals , AMG Advanced Metallurgical Group, Miba AG, Alcoa Inc., Hoganas AB, RIO Tinto, and GKN PLC.

Key developments:

In July 2020: Sandvik acquires Allied Construction. The acquisition of Allied establishes an enhanced sales, service and support platform for the growing North American customer base. It also enables Sandvik to expand the existing dealer network into new regions and to penetrate new customer segments with a broader product offering. Allied will obtain additional strength and access to cutting edge technology.

In January 2019: Praxair Surface Technologies partnered with Velo3D to Qualify TruForm Metal powders for use in Velo3D’s metal additive manufacturing technology. Under the partnership, Velo3D will develop process parameters for new alloys with Praxair’s TruFormTM powders and will qualify PST as an approved supplier of powder for released parameter sets for Velo3D’s additive manufacturing solutions.

In August 2019: Hoganas launched new Rockit® surface welding powders to combat impact and abrasive wear. The iron-based materials Rockit 606 and 706 have a martensitic structure with finely dispersed vanadium carbides giving them excellent wear characteristics and a consistent high hardness together with a good impact resistance. The materials have excellent welding properties and achieve a smooth deposit.

Metal Forms Covered:
Ore/Pure Metal
Scrap/Recycled Metals

Types Covered:
Ferrous
Non-Ferrous
Other Types

Production Methods Covered:
Physical
Chemical
Mechanical

Processes Covered:
Electrolysis
Solid State Reduction
Atomisation

Compaction Techniques Covered:
Hot Compaction
Cold Compaction

Applications Covered:
Metal Injection Molding (MIM)
Printing and Screen Printing
Catalysts
Additive Manufacturing
Alloying and Plating
Powder Metallurgy
Tool Manufacturing
Thermal Surfacing
Architectural and Paints
Metallic Fillers
Automotive Component Manufacturing

End Users Covered:
Aerospace and Defense
Medical/Healthcare
Transportation & Logistics
Building & Construction
Oil & Gas
Electrical & Electronics
Automotive
Industrial
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

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances