Metal Powder Market Growing Demand to Impact Revenue Share during 2018-2028
Posted by Arslan on June 19th, 2019
Metal powder, are powdered form of different metals such as aluminium metal powder, iron metal powder etc. Due to several advantages and benefits of metal powder, metal powder are extensively used for several applications which is expected to create ample growth opportunities during the forecast period. Use of metal powder in drastically growing automotive industry aims to deliver high growth for Metal Powder Market. Owing to the increasing frequency of metal powder purchase for different applications and end use industries, enriching consumer spending, increasing demand for powdered metallurgy components, the production of metal powder is also increasing globally with APEJ registering high growth for metal powder market during the forecast period. Metal powder market is creating opportunities for market participants to penetrate a high market share during the forecast period. The metal powder market comprises of enormous local, prominent and global vendors.
The global metal powder market is projected to witness lower single digit growth in developed, as well as developing economies, during the forecast period, according to the company’s recent research study. Ferrous metal powder is a widely used metal powder across the globe. However, non- ferrous metal powder are also gaining high attraction across different end use industries. Transportation and logistics reflects high adoption of metal powder. Metal powder is expected to witness high demand from the automotive industry in the years to follow. Increasing focus on titanium based powder across the globe, increasing demand from various end-use industries with technological advancements coupled with rapidly increasing demand of sustainable products for reducing environmental impact of metal industry have triggered the use of metal powder on a regular basis, thus driving the growth of the metal powder market.
Global Metal Powder Market Dynamics
Established market in regions like Europe and North America are expected to dominate the metal powder market in terms of value, whereas developing regions like APEJ and MEA is expected to multiply metal powder market throughout the forecast period. Also, the global market for metal powder is expected to witness growth factors with the rapidly increasing use of metal powder in applications like automotive industry, transportation and logistics, and different industrial applications like automotive component manufacturing, metal injection moulding, metallic fillers etc. High Investment capital required at initial stage for establishing manufacturing unit for metal powder is likely to hamper the growth of metal powder market.
The metal powder market can be segmented on type, metal form, application and end use industry. On the basis of type, metal powder market can be categorized into alloy (titanium, nickel, copper, cobalt and aluminium), stainless steel (Austenitic Steel, Martensitic Steel, Duplex Steel and Ferritic Steel), tool steel, high speed steel and low alloy steel. On the basis of metal form, the metal powder market can be segmented into recycled metal and ores. On the basis of application, the global market for metal powder can be classified as Additive Manufacturing (D Printing, Rapid Prototyping and Others), Thermal Surfacing, Architectural and Paints, Printing and Screen Printing, Industrial (Automotive Component Manufacturing, Metal Injection Moulding and Metallic Fillers) and other applications. On the basis of end use industries, the metal powder market can be segmented into Aerospace & Defense, Automotive, Oil & Gas, Medical, Transportation & logistics and other end use industries. Geographically, the global market for metal powder can be segmented into seven regions, namely North America, Latin America, Europe, CIS & Russia, Asia Pacific excluding Japan, Japan, and Middle East & Africa.
Global Metal Powder Market Key Players
The global metal powder market is expected to face intense competition due to presence of large number of big and small firms. Hence, market players are adopting strategies like mergers & acquisitions, expansions and investments to ensure company growth in the market. The metal powder manufacturers are primarily focusing on emerging countries to gain a huge operating revenue. Key vendors in the market are continuously introducing new metal powder products. Some of the key market participants in the metal powder market are Sandvik AB, Carpenter Technology Corporation, Hoganas AB etc.
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About the AuthorArslan
Joined: December 18th, 2017
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