The global metal powder market size was valued at USD 7.52 billion in 2023 and is projected to grow from USD 7.99 billion in 2024 to USD 13.00 billion by 2032, exhibiting a CAGR of 6.3% during the forecast period. Rise in demand from the automotive industry is projected to drive market growth. Increasing demand from end-user industries to expand market progress. Fortune Business Insights™ shares this information in its report titled “Metal Powder Market Size Report, 2024-2032.”

Metal Powder Industry Segmentation

Due to its Application in Various End-User Industries, Ferrous Metal Type to Lead the Segment

Based on the metal type, the market is segmented into ferrous and non-ferrous. Ferrous segment is projected to be the fastest growing segment due to its applications in various products such as oil-less bearings, orthopedic implants, dental restoration, automotive transmission gears, aircraft brake pads, etc.

Owing to its Efficiency and Versatility, Mechanical Method to Gain Traction

On the basis of application, the market is segmented into mechanical method and chemical method. Mechanical method to be the prime the market due to its versatility and efficiency. This method requires superior devices for the production. It is made up of milling, gas atomization, spray method, mechanical alloying, and electrolysis.

Owing to Increasing Use of Powdered Metal, Automotive is Set to Dominate

According to end-user industry automotive, manufacturing, medical, electrical and electronics, and others. Automotive end-use industry is expected to govern the segment due to its usage of powdered iron in the automotive industry. It is used for hot isostatic pressing, particle metallurgy, injection molding, and sintering. Manufacturing segment is also expected to have a sizeable growth as metal powder finds its usage in various manufacturing techniques.

Regionally, the market is grouped into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

List of Key Companies Profiled in the Metal Powder Report:

  • Rio Tinto Metal Powder (U.K.)
  • Sandvik AB (Sweden)
  • Carpenter Technology Corporation (U.S.)
  • Hoganas AB (Sweden)
  • GKN Powders – Hoeganaes (U.S.)
  • ATI (U.S.)
  • Praxair Surface Technologies (U.S.)
  • C. Starck (Germany)
  • Kymera International (U.S.)
  • BASF SE (Germany)

Drivers and Restraints

Need and Demand for Safe and Potable Water to Inflate Market Growth

Demand for the product is attributed to its various applications in end-user industries such as automotive, manufacturing, medical, electrical & electronics, and others. The metal powder market growth is accredited to the product application in the automotive industry for particle metallurgy, hot isostatic pressing, sintering, and injection molding. Applications of the product in many industries have also increased as it is likely to satisfy the need of renewable energy, which is anticipated to drive the market growth.

Regional Metal Powder Market Insights

Asia Pacific to Lead the Market Due to Availability of Range of Automotive Products

The market in Asia Pacific stood at USD 2.44 billion in 2021 and is predicted to have improved progress in the global metal powder market share during the forecast period. Presence of medium and small sized manufacturing facilities for metal powder production in Asia Pacific is estimated to increase the market share across the region.

In North America, the market is expected to enhance the industry growth due to strict rules and regulations by governments for proper disposal of industrial wastewater.

Competitive Landscape

Market Players Adopted New Product Development to Strengthen their Product Portfolio

Key players of the market have opted for acquisition and new product development strategies. For example, in May 2021, Rio Tinto developed a new steel powder that is designed for the purpose of 3D printing applications in its Rio Tinto Fer et Titane (RTFT) metallurgical complex, which is lsocated in Sorel-Tracy, Quebec. Additionally, companies have taken up new product launches, acquisition, and partnership strategies to augment the product demand effectively to bolster market growth.

Key Metal Powder Industry Development

  • June 2021: BASF launched and opened a new Center of Excellence laboratory to conduct and expand its Catamold business in Shanghai, China. It will serve as a facility for expertise solutions and products for the Metal Injection Molding (MIM) market in China and the rest of Asia.

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