Metal Powder Market Growth Driven by Continued Advancements in Additive Manufacturing Technology and Expanding Range of Compatible Materials

PRESS RELEASE

Published June 7, 2023

Metal Powder refers to finely ground particles of metallic elements or alloys. It is produced through various methods such as atomization, chemical reduction, or mechanical grinding. Metal powders have a wide range of applications across various industries, including manufacturing, metallurgy, electronics, and automotive.

Market Analysis

Over the past years, the demand for additive manufacturing or 3D printing utilizing powdered metal has witnessed significant growth. This trend can be attributed to the exceptional functional properties offered by this technology, combined with faster production times and a high reusability rate. As a result, the global metal powder market is experiencing a surge in demand, driven by the increasing adoption of 3D printing in various industries. One of the key factors driving the demand for powdered metal in 3D printing is the wide range of compatible materials available.

According to SNS Insider, the metal powder market is projected to reach a value of USD 6.96 billion by 2022, exhibiting a compound annual growth rate (CAGR) of 7.1% during the forecast period of 2023 to 2030, and is expected to reach USD 12.05 billion by 2030.

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The Major Key Company Profiles included in Metal Powder market study are:

  • 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.)

Impact of Recession

Recessions have a negative impact on the metal powder market due to reduced demand, slowdown in industrial production, pricing pressures, supply chain disruptions, and decreased investments in R&D. Navigating through these challenges requires resilience, adaptability, and strategic planning from metal powder manufacturers to sustain their business and position themselves for recovery once the economy improves.

Segmentation Analysis

The ascent of the virgin PET and aerospace segments in the metal powder market signifies a new era of growth and innovation. Their demand for specialized metal powders will drive advancements in powder manufacturing processes and facilitate the development of cutting-edge applications. As these segments continue to dominate, the market will witness a broader range of opportunities and collaborations, ultimately reshaping industries and propelling technological progress.

The Metal Powder Market Segments and Sub-Segments are Listed Below:

By Raw Material:

By Type

  • Ferrous
  • Non-ferrous
  • Others

 By Application

  • Transportation & logistics
  • Industrial
  • Construction
  • Electrical & electronics
  • Others

By Production Method

  • Physical
  • Chemical
  • Mechanical

By Compaction Technique

  • Cold Compaction
  • Hot Compaction

By Metal

  • Scrap/Recycled metals
  • Ore/Pure metal

By End Users

  • Aerospace
  • Aviation
  • Energy
  • Medicine
  • Other

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Regional Status & Analysis

Asia Pacific has emerged as a dominant force in the global metal powder market and is projected to maintain its stronghold over the forecast period. The region’s remarkable growth can be attributed to the rapid development of emerging countries within its borders. These nations have been witnessing substantial industrialization and urbanization, leading to a surge in demand for metal powders. The manufacturing sector in Asia Pacific has been a key driver of market growth. With the region serving as a manufacturing hub for various industries, including automotive, aerospace, electronics, and machinery, the demand for metal powders has soared.

Conclusion

The market shows promising future prospects due to the growing demand for additive manufacturing, advancements in powder metallurgy, the focus on lightweight materials, the increasing adoption of metal powder-based coatings, investments in renewable energy, and the emergence of new markets.

Frequently Asked Questions/ Key Reasons to Purchase this Report

>What is the projected outlook for metal powder market growth?

Ans- The global market is projected to surpass a value of USD 12.05 billion by the year 2030.

>What are the major factors influencing the metal powder market?

Ans- As sustainability becomes a key consideration for businesses across various sectors, the use of powdered metal in 3D printing aligns with the growing emphasis on eco-friendly manufacturing practices

>Who are the leading players in the metal powder market?

Ans– Sandvik AB (Sweden), Hoganas AB (Sweden), Hitachi Chemical Co., Ltd (Japan),  Allegheny Technologies Incorporated (U.S.), GKN Plc. (U.K.), Rio Tinto (U.K.), Carl Schlenk AG (Germany), and Metaldyne Performance Group Inc (U.S.).

Table of Contents – Major Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Metal Powder Market Segment, By Raw Material
9. Global Metal Powder Market Segment, By Type
10. Global Metal Powder Market Segment, By Application
11. Global Metal Powder Market Segment, By production method
12. Global Metal Powder Market Segment By Compaction Technique
13.Global Metal Powder Market Segment, By Metal
14. Global Metal Powder Market Segment, By end Users
15. Regional Analysis
16. Company Profiles
17. Competitive Landscape
18. Conclusion

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