Metal powder is a powdered type of metal like aluminum, iron, and steel. Metal powder is commonly used in different industries for a variety of purposes. Automobiles, electronics, healthcare, and firearms are among these sectors. Particles ranging in size from 25 to 200 micrometers can be found in most metal powders. These powders are usually pure metallic, but they may also be combined with other materials like polymers or polymers.
Powder metallurgy uses the least amount of energy and resources compared to extrusion, welding, machining, and casting, and maximizes the use of raw materials. Metal powder-based products are used in several end-use industries, including automotive, electronics, weapons, industrial, and healthcare. Metal powder demand has been rising due to the expansion of end-use industries.
Major Trends in Metal Powder Market
The demand for metal powder has been rising as the production of industrial and automotive part manufacturing has increased, and this is the primary factor driving market growth. The global metal powder market is anticipated to rise due to increased demand from component manufacturing industries.
Different features of the product, such as cost efficiency, high volume capability, less wastage, reduced production time, and recyclability are the major reason behind its increased demand. Furthermore, the rise in the need for metal powder is projected to increase substantially on account of the growing emphasis on electric and lightweight vehicles.
Technological advances that complement the use of metal powders in a wide range of items, including rocket fuels, printing inks, paint pigments, and many others, the metal powder market continues to expand at an unprecedented rate. This is in line with a growing understanding regarding the key role performed by metal powders as primary base materials during the fabrication of metallic components through powder metallurgy or the new field of additive manufacturing. Increased demand for lightweight vehicles is expected to further drive the market’s growth.
Regional Developments for Metal Powder Market
The Asia Pacific accounts for a large portion of the market and is projected to rise at the fastest rate in the years to come. The metal powder industry is booming in Asia Pacific’s developing countries, thanks to rapid industrialization and urbanization. Furthermore, the expansion of the electrical and electronic industries in the region owing to tax advantages and the availability of cheap labor is boosting the market growth. Furthermore, the rapidly growing population, especially in China and India has boosted the construction and automobile industries, further propelling the market growth.
North America is another region that holds strong dominance on the metal powder market owing to well-established end-use industries such as building & construction, transportation, and electronics. Furthermore, the presence of the largest construction machinery manufacturers in this region is projected to create a positive environment for the market. Furthermore, the expanding metal fabrication industry, as well as increasing infrastructural developments, is a major contributor to the market’s expansion.
Leading Players Holding Dominant Position in the Metal Powder Market
Some of the promising participants playing a key role in the growth of the metal powder market include CNPC Powders, Sandvik AB, POLEMA, Hitachi Chemicals Co. Ltd., Changsha Hualiu Metal Powders Ltd, Allegheny Technologies Incorporated, Hoganas AB, Carpenter Technology Corporation, Miba AG, Metaldyne Performance Group, Alcoa Inc., BASF SE, and GKN PLC.
Deep-dive Insights on Metal Powder Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/metal-powder-market/request-for-sample