PUBLISHER: The Business Research Company | PRODUCT CODE: 1414396
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414396
“Metal Powder Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on metal powder market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for metal powder? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The metal powder market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Metal powders are finely divided or powdered forms of metals used in various applications, including the manufacturing of sintered parts, thermal spraying, plastic filling, and other specialized uses. Metal powders play a crucial role in powder metallurgy, a process that involves fabricating metal parts and components by heating compressed powdered metals to just below their melting temperatures.
The main types of metal powders include ferrous, non-ferrous, and others. Ferrous metal powders, which contain iron, are exemplified by steel and cast-iron powders. These ferrous powders are utilized in applications requiring magnetic properties, such as in the production of electromagnetic cores and components. The production of metal powders involves processes such as atomization, reduction of compounds, electrolysis, and others. Metal powders find applications in various industries, including transportation, electrical and electronics, medical, chemical, metallurgical, defense, construction, and more, for purposes such as additive manufacturing, powder metallurgy, metal injection molding, and others.
The metal powder market research report is one of a series of new reports from The Business Research Company that provides metal powder market statistics, including metal powder industry global market size, regional shares, competitors with a metal powder market share, detailed metal powder market segments, market trends and opportunities, and any further data you may need to thrive in the metal powder industry. This metal powder market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The metal powder market size has grown strongly in recent years. It will grow from $7.11 billion in 2023 to $7.68 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth observed in the historical period can be attributed to factors such as the manufacturing of medical devices, demand from the consumer electronics sector, automotive industry requirements, cost-effective production methods, and the growing need for increased customization in manufacturing processes.
The metal powder market size is expected to see strong growth in the next few years. It will grow to $10.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period can be attributed to the expanding applications of rapid prototyping, the growth of wearable devices, advancements in medical microfluidics, increased demand for automotive interior components, and the use of biodegradable materials. Major trends expected in this forecast period include advancements in materials, a focus on customization and prototyping, an emphasis on sustainability and material recycling, advancements in mold design and technology, and the development of smart packaging solutions.
The anticipated surge in demand for electric vehicles is poised to drive the growth of the metal powder market in the future. Electric vehicles, which operate on electricity stored in batteries and use electric motors instead of traditional fossil fuels, benefit from metal powder in the production of lighter components. These components find applications in various areas such as battery production, motor production, and 3D printing, contributing to the creation of lightweight, high-strength parts. For instance, the Global EV Outlook 2022 report revealed that electric vehicle sales doubled in 2021, reaching a record high of 6.6 million. The global sales of electric cars in 2021 amounted to 6,600,000 units, a substantial increase from 2,980,000 units in the previous year. Thus, the growing demand for electric vehicles is a significant driver for the metal powder market.
The upswing in electronics production is expected to propel the growth of the metal powder market. Electronics, encompassing systems and devices utilizing electronic components, benefit from metal powder in the manufacturing of intricate and efficient metal components, supporting the production of electronic devices. For example, as reported by Electronic Weekly in March 2021, the U.S. electronic production growth was 8% in November 2020, further increasing to 8.7% in January 2021. This rise in electronics production is a driving force behind the metal powder market.
A prominent trend in the metal powder market is the advancement in 3D printing technologies. Key industry players are focusing on innovative 3D printing technologies to create lightweight, high-strength parts based on metal powders, enhancing the performance and efficiency of vehicles. In April 2023, Eplus3D Tech GmbH, a Germany-based company specializing in advanced 3D printing technologies, launched the EP-M400, a quad-laser metal powder bed fusion 3D printer. This technology allows for high-speed and high-precision printing of metal parts using various metal powders, such as nickel-based alloys, tool steels, die steels, aluminum alloys, titanium alloys, and copper alloys.
Major companies operating in the metal powder market are directing their efforts towards developing advanced platforms that implement technologies such as cold hearth technology to maximize profits. Cold hearth technology is a metallurgical process involving the melting and refining of metal in an environment with relatively lower temperatures compared to traditional methods. In November 2023, Continuum Powders, a US-based sustainable metal powder manufacturer, introduced the Greyhound M2P 3.0, an updated version of its powder atomization platform. This platform streamlines the recycling process, converting alloyed metal waste-stream products into powder in a single step. The upgraded platform employs high-intensity DC plasma heat sources, incorporates cold hearth technology for purity, and supports smaller order quantities and custom alloy configurations.
In June 2022, Elkem, a Norway-based provider of advanced silicon-based materials, acquired KeyVest Belgium S.A. for an undisclosed amount. This strategic move aims to enhance Elkem's service level, offer more specialized products to current customers, and expand processing capabilities in new markets. KeyVest Belgium S.A. is a Belgium-based manufacturer specializing in advanced metal and aluminum powder, boron, cenosphere, and silicon carbide products.
Major companies operating in the metal powder market report are Allegheny Technologies Incorporated, BASF SE, Carpenter Technology Corporation, GKN plc, Hoganas AB, Polema Industries Limited, Rio Tinto Limited, Sandvik AB, Showa Denko Materials Co. Ltd., AMETEK Inc., Royal Metal Powders Inc., American Axle & Manufacturing Inc., American Chemet Corporation, Molyworks Materials Corporation, Sagwell USA Inc., 3A Composites, Xiamen Tungsten Co.Ltd., Shandong Luyin New Material Technology Co. Ltd., JFE Steel Corporation, Hangzhou Yitong New Materials Co. Ltd., Alcoa Corporation, Shandong Xinfa Aluminum Group, Hunan Ningxiang Jiweixin Metal Powder Co. Ltd., Angang Group Aluminium Powder Co. Ltd., GGP Metalpowder AG, Kymera International, Mitsubishi Chemical Corporation, Sumitomo Chemical Co. Ltd., Nippon Steel & Sumikin Foil Co. Ltd., H.C.Strack GmbH
Asia-Pacific was the largest region in the metal powders market in 2023. The regions covered in the metal powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the metal powder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The metal powder consists of sales of lead powder, tin powder, bismuth powder, antimony powder, and cadmium powder. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.