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Redding, California - May 7, 2024

Metal Powder Market to be Worth $10.2 Billion by 2031

Metal Powder Market Size, Share, Forecast, & Trends Analysis by Metal Type (Ferrous, Non-Ferrous), Application (Additive Manufacturing, Pressing & Sintering, Others), Source, Production Method, End User (Automotive, Aerospace & Defense, Chemical, Others) & Geography - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Metal Powder Market by Metal Type (Ferrous, Non-Ferrous), Application (Additive Manufacturing, Pressing & Sintering, Others), Source, Production Method, End User (Automotive, Aerospace & Defense, Chemical, Others) & Geography—Forecasts to 2031’

According to this latest publication from Meticulous Research^®, the metal powder market is projected to reach $10.2 billion by 2031, at a CAGR of 6.2% from 2024 to 2031. The growth of the metal powder market is driven by increasing demand for additive manufacturing (AM) and an increased focus on recycling metal waste for the production of metal powder. However, the health hazards of using metal powder are a factor restraining the growth of this market.

Furthermore, the rising demand for lightweight parts across several end-use industries and advancements in powder metallurgy are expected to generate growth opportunities for the stakeholders in this market. However, maintaining the quality and consistency of metal powders is a major challenge impacting market growth.

Based on metal type, the metal powder market is broadly segmented into ferrous metal powder and non-ferrous metal powder. In 2024, the ferrous metal powder segment is expected to account for the larger share of above 65.0% of the metal powder market. The segment’s large market share is mainly attributed to factors such as the wide use of ferrous metal powder in end-use industries such as defense, aerospace, construction, automotive, and healthcare; additional benefits such as strength and durability of ferrous metal over non-ferrous; and due to growing preference of atomized iron powder in industrial raw materials.

However, the non-ferrous metal powder segment is expected to record the highest CAGR during the forecast period. The growth of this segment is mainly driven by the growing use of composite material in additive manufacturing, the increasing popularity of titanium powders for the application of aerospace parts to car components, and new alloy developments.

Based on application, the metal powder market is segmented into additive manufacturing, metal-injection moulding, pressing & sintering, and other technology. In 2024, the pressing & sintering segment is expected to account for the largest share of the metal powder market. The segment’s large share is mainly attributed to the increased use of pressing & sintering for the production of solid & strong parts of desired geometry from raw metal powder, also due to its cost-effectiveness and growing focus of manufacturing companies on increasing production capacity. For instance, in February 2024, SAP PARTS Pvt. Ltd (India) installed a new metal powder press at its sintering facility to increase production capacity and improve the compaction process.

However, the additive manufacturing segment is expected to record the highest CAGR of 9.0% during the forecast period. The growth of this segment is mainly driven by the growing focus of companies on the development of new alloys, increased use of additive manufacturing for prototyping, jewelry-making applications, and production of lightweight parts for various industries, including aerospace, automotive, and defense; and increased focus of metal powder companies on expanding production of metal powders for additive manufacturing. For instance, in October 2021, Pometon S.p.A. (Italy) established PometonPlus, a new business division specializing in the production of metal powders for Additive Manufacturing.

Based on source, the metal powder market is segmented into pure/ore metal powder and recycled metal powder. In 2024, the recycled metal powder segment is expected to account for the larger share of above 56.0% of the metal powder market. The segment’s large share is mainly attributed to factors such as companies' increasing focus on sustainability, creating circular loops for metals, and the development of a metal powder recycling system.

Moreover, the recycled metal powder segment is expected to record the highest CAGR during the forecast period. This segment's growth is mainly driven by the increasing use of scrap and discarded parts as feedstock to make new powders for additive manufacturing and increased manufacturing activities.

Based on production method, the metal powder market is segmented into chemical method, mechanical method, and physical method. In 2024, the mechanical segment is expected to account for the largest share of above 44.0% of the metal powder market. The segment’s large share is mainly attributed to factors such as the use of grinding and crushing processes for the production of metal powders due to their cost-effectiveness.

Moreover, the mechanical segment is expected to record the highest CAGR during the forecast period. This segment's growth is mainly driven by the growing use of recycled metal powder and the ability of mechanical processes to obtain ultrafine powders of high melting point metals.

Based on end user, the metal powder market is segmented into automotive, aerospace & defense, heavy machinery & tools, medical & dental devices, oil & gas, chemical, construction, energy & power, transportation, and other end users. In 2024, the heavy machinery & tools segment is expected to account for the largest share of above 33.0% of the metal powder market. The segment’s large share is mainly attributed to factors such as the increased use of metal powder in heavy machinery & tools manufacturing due to material flexibility, application versatility, and cost-effectiveness, increased use of additive manufacturing for the production of complex heavy machinery & tools parts, and growth in the use of composite materials in heavy machinery & tools manufacturing.

Moreover, the aerospace & defense segment is expected to record the highest CAGR during the forecast period. The segment’s growth is mainly driven by the growing use of metal powder for the production of aerospace parts with a high strength-to-weight ratio, the development of new consistent alloys, and the growing use of 3D printing for the prototyping of aircraft, spacecraft & defense components.

Based on geography, the metal powder market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of above 37.0% of the metal powder market. The large market share of this segment is attributed to the presence of a large number of manufacturing companies in China, South Korea, and Japan, along with the strong presence of automobile, industrial manufacturing, and electronics & semiconductor companies, and Southeast Asia’s tremendous growth in manufacturing.

Moreover, Asia-Pacific is projected to register the highest CAGR of 7.5% during the forecast period. The growth of this region is attributed to rising industrialization, growing urbanization, growing adoption of industrialization 4.0, and increasing demand from the automotive sector across the region.

Key Players:

Some of the key players operating in the metal powder market are Höganäs AB (Sweden), GKN Powder Metallurgy (U.K.), Advanced Technology & Materials Co., Ltd. (China), Sandvik AB (Sweden), AMETEK Inc. (U.S.), Tekna Holding ASA (Canada), BASF SE (Germany), Aubert & Duval (France), Alcoa Corporation (U.S.), ATI Inc. (U.S.), Carpenter Technology Corporation (U.S.), RusAL (Russia), Rio Tinto (U.K.), Kymera International (U.S.), and Praxair S.T. Technology, Inc. (U.S.)

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5860

Key questions answered in the report-

Which are the high-growth market segments based on metal type, application, source, production, and end user?
What was the historical market for metal powder?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, and opportunities in the metal powder market?
Who are the major players, and what shares do they hold in the metal powder market?
What is the competitive landscape like in the metal powder market?
What are the recent developments in the metal powder market?
What are the different strategies adopted by the major players in the metal powder market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the metal powder market, and how do they compete with the other players?

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Redding, California - May 7, 2024

Metal Powder Market to be Worth $10.2 Billion by 2031

Metal Powder Market Size, Share, Forecast, & Trends Analysis by Metal Type (Ferrous, Non-Ferrous), Application (Additive Manufacturing, Pressing & Sintering, Others), Source, Production Method, End User (Automotive, Aerospace & Defense, Chemical, Others) & Geography - Global Forecast to 2031

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