Metal Powder Market surpassed the revenues of US$ 4.4 Bn at the end of 2018

Posted by Pradnya on May 30th, 2019

Global Metal Powder Market – Key Research Findings

1. The global metal powder market surpassed the revenues of US$ 4.4 Bn at the end of 2018, and is projected to grow at a 3% CAGR over 2018–2028.
2. In terms of demand, the powder metallurgy application is estimated to maintain its dominance in the global metal powder over the forecast period.
   • This is mainly attributed to the significant growth of the manufacturing sector in developed and developing countries.
   • Increasing R&D spending, technological advancements, and significant rise in automotive & aerospace production capacities also have resulted into an increase in the demand for metal powder across the globe.
   • Moreover, the increasing demand for lightweight components in the automotive sector has provided an impetus for the growth of the metal powder market.
3. North America and Europe markets are estimated to register slow growth, whereas, East Asia is projected to register healthy growth, and will surpass Europe by the end of the forecast period.
   • North America and Europe markets are at mature stages, and are estimated to register slow growth over the forecast period. Both regions, together, are expected to account for over 65% of the global market in 2018.
   • Moreover, the healthy growth of the automotive and aerospace industries, coupled with the shifting of the manufacturing industry towards the East Asia region, especially China, is expected to drive the growth of the metal powder market.
4. Across the globe, the atomization process is mainly preferred by metal powder manufacturers, owing to fine and uniform-sized metal powder production, coupled with the economic advantage of the process, which, in turn, provides a competitive edge over the other processes.

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Key Factors Driving the Growth of the Metal Powder Market

Increasing adoption of additive manufacturing and rising demand for lightweight components in the automotive sector

Additive manufacturing is also known as 3-D printing, which is the imprinting of excellent shades in the manufacturing sector, owing to the phasing in of cutting-edge technologies such as digitalization to cope up with this additive manufacturing that is used with metal powder to make a 3D prototype product.

Regarding prototypes, numerous researches are being done pertaining to aerodynamic effects and side effects, among others.

Several advantages such as economic benefits, rapid testing, and easy designing, among others, are leading to 3D-printing technology being accepted in the automotive industry. It is estimated that the 3D-printing market will register double digit growth over the forecast period.

In automotive industries, lightweight material is gaining significant traction, owing to its beneficial properties such as high accuracy and more expected life, among others.

In addition, materials that are light in weight, such as high-strength steel, aluminum (Al) alloys, magnesium (Mg) alloys, polymer composites, and carbon fiber are capable of directly reducing the overall weight of the body and chassis of a vehicle by up to 50%, which, in turn, is expected to drive the demand for metal powder in the automotive Industry.

The growing adoption of additive manufacturing in healthcare and aerospace industries.

Additive manufacturing or 3D-printing technology is gaining plenty of traction in the medical sector to make accurate medical equipment so as to perform flawless critical operations in less time.

For instance, recently, the U.S. Food and Drug Administration (FDA) approved spinal implants made from titanium alloys with 3D-printing technology.

The rising adoption of 3D-printing technology in various end-user industries is thus highly likely to drive the growth of the metal powder market over the forecast period.

Global Metal Powder Market Structure

Quantity of metal powder, specification of metal powder, procurement terms, and contractual nature between suppliers and end users are some of the vital factors that affect the prices of metal powder.

In the metal powder market, organized players accounted around 35-40% of the market, whereas, the rest was accounted for by un-organized players in 2017. In the markets in North America and Europe, there is intense competition among metal powder manufacturers, owing to the presence of a large number of local/regional and global players in these regions.

Metal powder manufacturers are focusing on the expansion of their production capabilities to cater to the rising demand for metal powder, and to enhance their footprint in the global market. 

Company Profiles:

• Sandvik AB
• GKN PLC
• Hitachi Chemical Co., Ltd.
• ATI Powder Metals
• Praxair Surface Technologies Inc.
• Höganäs AB
• AMG Advanced Metallurgical Group
• Rio Tinto Plc
• voestalpine BÖHLER Edelstahl GmbH & Co KG
• Aubert & Duval
• American Axle & Manufacturing, Inc.
• Carpenter Powered Products
• Royal Metal Powders
• Australian Metal Powders Supplies Pty Ltd.
• CNPC Powder Group Co., Ltd