The global metal powder market was valued at US$ 5.27 billion in 2019 and is predicted to surpass around US$ 8.52 billion by the end of 2027, representing impressive CAGR of 6.19% during the forecast period 2020 to 2027.
Key market Insights:
Metal powders are effectively employed in a broad spectrum of applications such as welding, chemical, metallurgical processes, iron fortification, and friction among others. Augmented output in numerous crucial industries such as batteries, motor vehicles, electrical equipment, and machinery manufacturing will remain key driving force for growth of this market.
Substantial growth of metal powders market across globe is mainly attributed to noteworthy growth of the manufacturing sector in established and emerging nations. Growing R&D expenditure, technological progressions, and substantial upsurge in aerospace and automotive production capacities also have caused augmented need for metal powder worldwide.
Decisive factors accountable for market growth are:
Significant Market Trends:
Ferrous Emerged as The Largest Segment and Accounted for Major Market Share In 2019
The ferrous segment involves metal powders encompassing of all kinds of steel and their alloys, iron and alloying elements including molybdenum, nickel, and chromium. Steel is one of the inexpensive types of metal in additive manufacturing and find application in a mixture with other metals like bronze.The non-ferrous product segment comprises metal powders made of copper, zinc, aluminum, tungsten, titanium, magnesium, and others
Aerospace and Defense Application Sector Dominated Metal Powder Market Revenue
Aerospace and defense sector reported for significant revenue stake of the total metal powder market. Players involved in the metal powder market are rapidly undertaking expansion activities via numerous partnerships and joint ventures. In July 2020, MDA Corporation collaborated with BurloakTechnologies with the help of 5 years agreement to develop space applications with the help of additive manufacturing. This contract is projected to benefit both companies improve design and manufacturing competences during years to come.
Press and Sinter Technology Segment Occupied Major Volume Share of Above 90% in 2019.
Press and sinter is a traditional powder metallurgy process. It is cheap and yields near-net-shape components. It encompasses thermal treatment or compaction at a temperature lesser than the melting point of metal to harvest a green compact.
North America is Estimated to be the Largest Market for Metal Powder
This research report covers crucial trends and projections of metal powder products across diverse geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Asia Pacific led the global metal powder market in 2019 with substantial market share. This growth is credited to intensification in population, upsurge in disposable income, and development in spending in the electrical & electronics sector. India, China, and Japan are key contributors to the metal powder market in this region.
Top Players contending in the Market:
Huge capital investments and continuing technological progressions in the metal powder market are projected to lower the risk of new entrants in the market. There is forceful competition amongst metal powder manufacturers in the North America and Europe on account of occurrence of a large number of local and international companies. Metal powder producers are concentrating on the development of their production competences to furnish to the increasing demand for metal powder, and to augment their footmark in the worldwide market. Leading competitors contending in global metal powder market are as follows:
In order to better recognize the current status of acceptance of metal powder, and policies adopted by the foremost countries, Precedence Research projected the future evolution of the metal powder market. This research study bids qualitative and quantitative insights on metal powder market and valuation of market size and growth trend for budding market segments.
Major Market Segments Covered:
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