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Metal Powder Market

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

Analysis of Metal Powder market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Global Metal Powder Market Snapshot

The global metal powder market is estimated at US$ 17.6 Bn in 2022, and is projected to top a valuation of US$ 32.7 Bn by 2032, expanding at a CAGR of 6.3% from 2022-2032.

Attribute

Details

Metal Powder Market Size (2021A)

USD 16.7 Bn

Market Size Value Estimated (2022E)

USD 17.6 Bn

Market Forecast Value (2032F)

USD 32.7 Bn

Global Market Growth Rate (2022-2032)

CAGR 6.3%

Asia Pacific Market Share (2022E)

~40%

Asia Pacific Market Growth Rate (2022-2032)

7.5%

China Market Growth Rate (2022-2032)

7.3%

Top 5 Companies’ Market Share

~40%

Key Companies Profiled

  • AMG Advanced Metallurgical Group N.V.
  • ATI Powder Metals
  • Aubert & Duval
  • Australian metal powder Supplies Pty Ltd
  • 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.
  • Voestalpine BOHLER Edelstahl GmbH & Co KG

Fact.MR reveals that, at present, metal powder consumption accounts for nearly 1.1% of the global metal market.

Moreover, metal powder market volume consumption surpassed 2,194 Kilo Tons in 2021, accounting for 2.3% of total metal demand, and is poised to increase at a CAGR of around 3.5% with consumption projected to reach 3,214 Kilo Tons by 2032-end.

Growth of the metal powder market size is attributed to industries such as automotive, aerospace & defence, oil & gas, and construction.

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Metal Powder Consumption Analysis (2017-2021) Vs. Market Outlook (2022-2032)

In terms of volume, the global metal powder market expanded at a CAGR of 1.1% over the historical period of 2017 to 2021, with consumption reaching 2,194 Kilo Tons in 2021.

Many small pioneering entrepreneurs and multinational companies are utilizing 3D printing as the primary production method. Owing to its outstanding performance, the number of end-use industries using 3D printing is increasing at a substantial pace globally.

Metal additive manufacturing is unlocking new possibilities that could not be realized before. With the help of metal additive manufacturing, multiple production steps have been replaced with just one step, which is enabling mass customization. Not only production process efficiency but also additive manufacturing has improved part performance. 

The global metal powder market has evolved significantly in recent years on the back of increasing investments in powder production technologies to overcome performance and quality issues. Manufacturers across the globe are focusing on testing in-depth new technologies and launching products in the target market to capitalize on burgeoning demand.

Additionally, growing adoption of atomized metal powder in powder metallurgy results in the rise in overall demand across diverse end-use industries. Based on the aforementioned factors, the global metal powder market is anticipated to surge at a CAGR of 6.3% over the long-term forecast period (2022-2032).

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What are the Prominent Driving Factors of Metal Powder Demand Growth?

Utilization of high purity metal powder has increased over the past half-decade. Looking into the growing adoption of metal powder for a range of applications, manufacturers are focused on designing advanced product ranges. Metal powder is being designed separately for metal injection moulding (MIM), additive manufacturing, cold spray, filters and foams, hot isotactic pressing (HIP), micro-MIM, etc.

Additionally, escalating demand for sintered metal powder from the construction industry is anticipated to drive overall demand. Metals and metal alloys are two material types for the extraction of metal powder. Moreover, popularity of ferrous metal powder alloys has been significantly gaining traction over the past half-decade.

metal powders market by Fact.MR

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Country-wise Analysis

Why is the China Metal Powder Market Anticipated to Grow Faster Than the Global Average?

“Metal Powder Coating Demand Growth Driven by Automotive and Constriction Sectors”

China is the world's largest automotive market in the world. The country produced around 310,000 commercial vehicles and 1.77 Mn passenger cars in September 2021. In 2020, China accounted for 32% of overall car production globally. China's car production was more than the production combining South Korea, Japan, India, and Germany in 2020.

Additionally, China is also the world's largest construction market. Growing disposable income with supportive government policies on residential, commercial, and industrial construction are some of the factors responsible for extensive growth of the construction industry in the country.

Over the past half-decade, the construction industry in China has been witnessing extensive investments, valued at US$ 1.0b Bn in the year 2020.

With increasing investments in construction and exceptional automobile industry growth, metal powder coating demand in China is set to race ahead at a CAGR of 7.3% and be valued at over US$ 6.3 Bn by 2032-end.

How Can Metal Powder Manufacturers Benefit from the United States?

“Demand for White Metal Powder High in the U.S.”

The United States is one of the prominent bases for an automobile manufacturers. The country has the second-largest market for automobiles after China. Despite the pandemic, U.S. light truck sales exceed 11 Mn units and 3.4 Mn unit cars in 2020. 

The automobile industry is one of the leading consumers of industrial powder and metalworking across the U.S. The industry consumed over 200 Kilo Tons of metal alloy powder in 2021, and is anticipated to expand at a CAGR of 2.6% over the forecast period.

Moreover, the huge aerospace and defence industry in the country is witnessing a high volume demand for powdered metals. In 2020, the country contributed around US$ 81 Bn in aerospace exports. Global aerospace industry leaders, including Lockheed Martin and Boeing, have their bases in the United States. 

Considering military spending, the U.S. aerospace and defence industry caters to a majority of international and domestic demand for arms and technology. As of now, six out of 12 leading aerospace and defence companies are based in the United States.

Owing to the highly developing automotive, aerospace, and defence industry, metal powder demand, especially white metal powder in the United States has always been high, and is expected to rise rapidly going ahead as well.

Category-wise Analysis

Which End-use Sector Should Metal Powder Suppliers Target?

“High Use of Metal Powder Coating in Healthcare Industry”

Powdered metal component popularity has shown substantial growth across the medical industry in recent years. Medical parts used in surgical procedures, treatment, and diagnostics need to be durable, biocompatible, and sterilisable, and at the same time, small in size. With the help of traditional machining and metal stamping methods, it was challenging for manufacturers to produce miniature or micro medical components. Powder metal manufacturing has thus become popular among manufacturers for producing small medical components over the past half-decade.

The reason behind rapid adoption of the powder metal manufacturing technology in the medical industry is primarily the advantages in terms of production efficiency, cost benefits, etc. Chrome metal powder metallurgy methods are faster than multiple-step manufacturing, and cost-effectively produce small and complex precision components in the required volume.

How is Adoption of AM Parts in Oil & Gas Sector Escalating Metal Powder Demand?

“3D Printing Services to Account for Huge Demand for Metal Alloys and Powder”

The oil and gas industry is pursuing technological innovations in manufacturing. Additive manufacturing (AM), as an emerging technology, is triggering innovative solutions to set the stage for new products and business models to set greater business value.

Adoption of additive manufacturing in the oil & gas industry has been slow over the past half-decade, but the potential across the industry is tremendous. The oil & gas industry spends over US$ 1.4 Bn annually on 3D printing services. Increasing production of replacement parts for the oil & gas industry through additive manufacturing is one of the prominent reasons for global metal powder consumption growth. 

Additionally, increasing utilization of AM parts in various applications across the oil & gas industry, such as downhole measurement, remediation tools, bit models and drill bits, acoustic and fluid filters, heat exchangers, and complex tools for directional drilling and logging is escalating requirement for metal powder.

Competitive landscape

The market is highly competitive in nature with leading manufacturers of metal powder such as 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.

Key market players of metal powder are making strategic moves to increase their market share by broadening their existing AM portfolio capability and focusing on acquisitions or collaborations with AM-specific powder-related companies.

For instance, Carpenter Technology made three significant acquisitions of AM-specific companies - LPW Technology and CalRAM in 2018, and Puris LLC in 2017.

To maintain competitiveness and brand image, manufacturers are also focused on developing and offering application-based products.

  • Höganäs AB, one of the leading manufacturers of metal powder, offers high-quality products for powder metallurgy.
  • LPW Technology Ltd is a leading manufacturer of ultra-clean additive manufacturing metal powder.

Metal Powder Industry Survey - Key Segments

  • By Material Type:

    • Metals
      • Iron
      • Copper
      • Nickel
      • Aluminium
      • Others (Chromium, Cobalt, Manganese, Titanium, etc.)
    • Metal Alloy
      • Stainless Steel
      • Silicon-iron
      • Nickel-iron
      • Others
  • By Production Technology:

    • Solid State Reduction
    • Atomization
    • Electrolysis
    • Others
  • By Application:

    • Metal Powder for Additive Manufacturing
    • Metal Powder for Alloying and Plating
    • Metal Powder for Tool Manufacturing
    • Metal Powder for Catalysts
    • Metal Powder for Powder Metallurgy
      • Press & sinter
      • Hot Isostatic Pressing (HIP)
      • Hard Materials
      • Others
    • Metal Powder for MIM
    • Others
  • By End-use Industry:

    • Metal Powder for Aerospace & Defense
    • Metal Powder for Automotive
    • Metal Powder for Oil & Gas
    • Metal Powder for Medical Use
    • Metal Powder for Building & Construction
    • Others
  • By Region:

    • North America Metal Powder Market
    • Latin America Metal Powder Market
    • Europe Metal Powder Market
    • East Asia Metal Powder Market
    • South Asia & Oceania Metal Powder Market
    • Middle East & Africa Metal Powder Market

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In 2021, the global metal powder market surpassed consumption worth US$ 16.7 Bn.

Sales of metal powder are projected to increase at a CAGR of 6.3% during 2022 – 2032.

Sales of metal powder increased at a CAGR of 1.1% during 2017 – 2021.

Cutting-edge customized products through the metal injection molding process is a huge trend in this space.

Rapid growth in the automotive, aerospace, and defense industry is the prime reason driving the sales of metal powder.

Tier-1 manufacturers of metal powder account for over 46% share in the market.

Top 5 countries driving most demand for metal powder are the U.S., China, India, Germany, and U.K.

North America accounted for nearly 30% of global metal powder demand in 2021.

The European market for metal powder is projected to expand at a CAGR of 4.6% during 2022 – 2032 and hold approx. 22% share of global demand.

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