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Mar 02, 2024

Metal Powders Market to grow at a CAGR of 6.81% from 2022 to 2027

News provided by 28 Jul, 2023, 21:00 ET Share this article NEW YORK, July 28, 2023 /PRNewswire/ -- The metal powders market size is estimated to grow by USD 2,340.91 million from 2022 to 2027. The

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28 Jul, 2023, 21:00 ET

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NEW YORK, July 28, 2023 /PRNewswire/ -- The metal powders market size is estimated to grow by USD 2,340.91 million from 2022 to 2027. The market is estimated to accelerate at a CAGR of 6.81%, according to Technavio. Download a Sample Report Now!

Metal Powders Market Insights -

To understand more about the metal powders market, request a sample report.

Metal Powders Market - Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including Alcoa Corp., American Chemet Corp., AMETEK Inc., AMG Advanced Metallurgical Group NV, Allegheny Technologies Inc., BASF SE, Carpenter Technology Corp., CNPC Powder Group Co. Ltd., FOMAS S.p.A., GKN Sinter Metals Engineering GmbH, Jiande Yitong Metal Powder Co. Ltd., Hoganas AB, JFE Holdings Inc., Kennametal Inc., Kymera International, Linde Plc, Miba AG, Rio Tinto Ltd., Sandvik AB, and voestalpine AG among others

Metal Powders Market - Market Dynamics

Major Drivers -

The rising use of powder metallurgy (PM) technology drives the market growth during the forecast period. PM can be referred to as a manufacturing process that includes the production of metal powders and their subsequent use to produce intricately shaped parts and components. Some of the main industries which utilize PM technology include automotive, aerospace, medical, and electronics. One of the main reasons for the wide adoption of PM technology is its ability to generate complex shapes with high precision and efficiency. Some of the other benefits of PM technology include cost-effectiveness, minimal material waste, enhanced mechanical properties, and better design flexibility. Therefore, there is an increasing demand for metal powders that are utilized in PM technology across industries. Furthermore, factors such as rising demand for metal powders in additive manufacturing (3D printing) are also positively impacting the market growth. Hence, such factors are expected to drive market growth during the forecast period.

Significant Trends -

The growing focus on titanium metal powders is a key trend in the metal powders market during the forecast period. Over the last few years, there has been an increasing focus on titanium metal powder in the global metal powder market due to factors such as increasing demand for lightweight and durable materials in industries as diverse as aerospace, automotive, and medical. There is wide adoption of titanium metal powder for various applications due to its several properties such as high strength, low density, and good corrosion resistance. Additionally, titanium metal powders are suitable for use in high-temperature applications as it has a high melting point. There is a rapid utilization of titanium metal powder in additive manufacturing, or 3D printing over the past decade. Additive manufacturing enables the manufacturing of complex shapes and structures with great precision and accuracy, and titanium metal powders are suitable materials for this process because of their excellent properties. Hence, such factors are expected to drive market growth during the forecast period.

Key challenges -

Environmental concerns regarding metal powders are a significant challenge hindering the market growth during the forecast period. Metal dust is a crucial issue that impacts human health as well as the environment. Metal dust can cause severe health issues by entering the human body through absorption and digestion through the skin. Some of the environmental hazards associated with increased exposure to metal powders can include mild impairment to life-threatening conditions such as pneumoconiosis, systemic poisoning, hard metal disease, inflammatory lung damage, cancer, and allergic reactions. Furthermore, the health issue related to metal dust can vary according to the nature and type of the dust (chemical, mineral, and physical properties). Thus stringent regulations and guidelines related to metal dust can pose a significant threat which can negatively impact the market growth during the forecast period. Several regulations enforced by the Environmental Protection Agency (EPA) regarding the use of metal powders, limit the manufacturing and consumption of metal powders which in turn will impede the market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

The metal powders market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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Metal Powders Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.81%

Market growth 2023-2027

USD 2,340.91 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.59

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 36%

Key countries

US, China, Japan, Germany, and Italy

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Alcoa Corp., American Chemet Corp., AMETEK Inc., AMG Advanced Metallurgical Group NV, Allegheny Technologies Inc., BASF SE, Carpenter Technology Corp., CNPC Powder Group Co. Ltd., FOMAS S.p.A., GKN Sinter Metals Engineering GmbH, Jiande Yitong Metal Powder Co. Ltd., Hoganas AB, JFE Holdings Inc., Kennametal Inc., Kymera International, Linde Plc, Miba AG, Rio Tinto Ltd., Sandvik AB, and voestalpine AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio