Metal Powder Market Forecast and CAGR
According to latest research by Fact.MR, metal powder market is set to witness ascending growth during 2021-2031. Demand for metal powder witness steady recovery in short-term, with optimistic growth outlook in the long-run and will hold net market size of more than 1,000 KT during similar time frame. Increasing number of manufacturers and mounting demand to drive metal powder market during the forecast period 2021-2031.
What is Driving Demand for Metal Powder?
Advancing demand from construction industry to drive demand for metal powder in recent years. Ferrous and non-ferrous metal are available as two metal type for extraction of metal powder. With increasing popularity non-ferrous metal powder is gaining traction since recent past.
Metal powder, are powdered type of various metals, such as aluminum metal powder, iron metal powder and so on. Utilization of metal powder in definitely developing auto industry intends to convey high development for metal powder market. Metal powder market is setting out open doors for key players to infiltrate a high piece of the pie during the gauge time frame. The metal powder market involves tremendous nearby, noticeable and worldwide merchants.
Furthermore, ascending transportation and logistics industry is providing numerous market opportunities for metal powder market. However, high initial investment cost is restricting new player to enter in these market and facilitating established players with number of advantages.
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3D Printing and Metal Powder
Metal powders which are made from metal after being reduced to fine particle. These metal powder acts as preliminary base material for 3D printing process to produce metallic parts. Increasing popularity of 3D metal printing to further pave path for metal powder market.
What was the Impact of Pandemic on Metal Powder Market?
Covid-19 has resulted in massively impacting manufacturing and other prominent traditional sectors resulting to flatten the global economy curve. Pandemic has also resulted in disrupting global supply chain and hinder the supply-demand equilibrium of market.
Furthermore, imposition of lockdown has resulted in keeping residents at home. These has resulted in downgrading manufacturing output of manufacturing sector globally. As result of these, demand for metal powder has experienced descending demand during these outbreak. However, reopening of global opening and restoration of supply chain is backing up the graph in last quarter of 2020.
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China and U.S. Metal Powder Market Outlook
China with increasing number of mega construction projects at global and region level is seen as targeted market for metal powder in years to come. With global initiative like Belt and Road project demand for metal construction materials, equipment, machinery and metals is experiencing ascending demand with exponential growth rate since recent past.
Aforementioned factors coupled with technological advancement in 3D printing technology is facilitating numerous market opportunities for metal powder. Furthermore, increasing number of metal manufacturers to meet global demand has given boost to metal powder market.
Followed by China, US is expected to emerge as second largest country in terms of demand, as increasing number of projects and advancing additive manufacturing industry in these region Different type of metal powders are used as in manufacturing of hydraulic machines and numerous other products. These is expected to boost demand for metal powder in North America based region.
Asia Pacific Outlook for Pet Metal Powder Market
Asia Pacific accounts for significant shares with respect to metal powder market. These advancing demand is seen as the result of increasing government expenditure in development of public infrastructure. Furthermore, mounting automotive industry in these region with increasing number of regional manufacturers to further boost demand for metal powder during the forecast period.
Consumption of steel in Asia Pacific region has increased from 26.6 million MT in 2002 to more than 80.0 million MT in 2019 annually. Developing economies like Vietnam, Indonesia and India have experienced growth rate of 11.8%, 6.5% and 9.6% respectively during 2002-2019. These indicates how demand for metal powder is creating new peak every year in Asia Pacific region.
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Who are the Key Manufacturers and Suppliers of Metal Powder?
Some of the leading manufacturers of device include
- Sandvik AB
- Carpenter Technology Corporation
- Hoganas AB
- Moly Works Materials Corporation
- Advanced Technology & Materials Co. Ltd.
- GKN PLC
- Rio Tinto Metal Powders
- CRS Holdings Inc.
- Liberty House Group
Metal powder market is highly fragmented with presence of large number of regional and global players in the market. Key players in these market adopting inorganic strategy as mergers and acquisition of regional firm to ensure their hold at global level. Furthermore, these players are paying special attention to development of market in emerging economies. These development would result in increasing profitability of the companies.
Metal Powder Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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- Stainless Steel
- Austenitic Steel
- Martensitic Steel
- Duplex Steel
- Ferritic Steel
- Tool Steel
- High Speed Steel
- Low Allow Steel
By Metal Form
- Recycled Metals
- Additive Manufacturing
- D Printing
- Rapid Prototyping
- Thermal Surfacing
- Architectural and Paints
- Printing and Screen Printing
- Automotive Component Manufacturing
- Metal Injection Molding
- Metallic Fillers
- Other Applications
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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