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Metal Powder Market

Asia Pacific Identified to Be Major Consumer of Metal Powder Over Period of 2022 to 2032, Observes Fact.MR

Published : 19 Jan 2022 Industry: Chemical & Materials

According to Fact.MR, a market research and competitive intelligence provider, the metal powder market is anticipated to expand at a CAGR of 6.3% and reach US$ 32.7 billion by 2032-end. As such, metal powder revenue will grow 1.8X during 2022-2032. Market expansion is being fuelled by growing adoption of powdered metal across leading industries.

There is huge demand for metal powder across industry verticals globally. The automobile industry is the largest consumer of metal powder, followed by aerospace. Therefore, with substantial growth of the automobile and aerospace sectors, demand for metal powder is escalating in parallel.

Owing to growing automobile and aerospace industries, Asia’s demand for metal powder is extensive. Many countries in Asia Pacific are still unable to fulfil the requirement for metal powder due to less supply. Countries such as India are seeing rapid hike in demand for metal powder, but there are a limited number of manufacturers operating domestically. As a result, the country is considered import-dependent to a great extent.

Key Takeaways from Market Study

  • In terms of value, additive manufacturing application is expected to register a CAGR of 6.5% over the forecast period.
  • Among the production technologies, atomization and solid state reduction are expected to grow 1.5X and 1.4X, respectively, and create an absolute $ opportunity of around US$ 7.8 billion and US$ 3.7 billion each.
  • Powder metallurgy application is estimated to account for 51% of the market value share by 2032-end.
  • Automotive end-use industry is set to hold 48.9% market value share by 2032-end.
  • Medical end use is showing lucrative demand owing to its versatile applications. The medical end-use industry is anticipated to capture 5.3% of the market share by 2032 with an absolute dollar opportunity of US$ 700 million.
  • Catalyst application is projected to grow 1.7X by value over the forecast period, while metal injection molding (MIM) application is projected to grow 1.7X.

“Rising penetration of electric vehicles in the automotive industry has provided a positive outlook for metal powder suppliers” says a Fact.MR analyst

Winning Strategy

Manufacturers have been focusing on strategic collaborations to increase their revenue earnings and subsequently, market share for metal powder. Leading market players have also been investing in product development in terms of quality.

There are numerous market players operating across the globe - AMG Advanced Metallurgical Group N.V., Australian metal powder supplies Pty Ltd, ATI powder metals, Aubert & Duval, Carpenter Powder Products, GKN Plc, Global metal powder, Heraeus, Hitachi Chemical Co., Ltd., Hoganas AB, Industrial metal powder Pvt Ltd, LPW Technology Ltd, Makin Metal Powder, Metaldyne Performance Group Inc., Praxair Surface Technologies, Rio Tinto metal powder, Royal metal powder, Inc., S.T. Technology, Inc., Sagwell, Sandvik AB, US metal powder Inc., and voestalpine BOHLER Edelstahl GmbH & Co KG.

More Valuable Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global metal powder market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of material type (metals (iron, copper, nickel, aluminium, and others (chromium, cobalt, manganese, titanium, etc.)), metal alloys (stainless steel, silicon-iron, nickel-iron, and others)), production technology (solid state reduction, atomization, electrolysis, and others), application (additive manufacturing, alloying and plating, tool manufacturing, catalysts, powder metallurgy (press & sinter, hot isostatic pressing (hip), hard materials, others, MIM, and others)), and end-use industry (aerospace & defense, automotive, oil & gas, medical, building & construction, and others), across key regions - North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa.

About the Chemicals and Materials Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemical industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Yash Pathak

Fact.MR

Sr. Consultant – Chemicals and Materials

E-mail: yash@factmr.com

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Metal Powder Market Analysis, By Material Type (Metals (Iron, Copper, Nickel), Metal Alloys (Stainless Steel, Silicon-Iron)), By Production Technology (Solid State Reduction, Atomization, Electrolysis), By Application, By End-use, By Region - Global Insights 2022-2032