Metal powder

Metal Powder Market to be Worth $10.2 Billion by 2031

Global Metal Powder Market - 2024 to 2031 A recent publication by Meticulous Research predicts that the global Metal Powder Market will grow significantly, reaching a valuation of $10.2 billion by 2031, with a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031. The surge in this market is primarily driven by the increasing demand for additive manufacturing (AM) technologies and a heightened emphasis on recycling metal waste to produce metal powder. Despite these positive trends, the potential health risks associated with the use of metal powders pose a challenge to the market's growth. The market is also expected to benefit from the rising demand for lightweight components across various industries and advancements in powder metallurgy, which will open new opportunities for stakeholders. However, maintaining the quality and consistency of metal powders remains a significant challenge that could hinder market expansion. The metal powder market is categorized into ferrous and non-ferrous metal powders. In 2024, ferrous metal powders are anticipated to dominate the market, accounting for over 65% of the total market share. This dominance is attributed to the widespread use of ferrous metals in industries such as defense, aerospace, construction, automotive, and healthcare, as well as the superior strength and durability of ferrous metals. Additionally, the growing preference for atomized iron powder in industrial applications is expected to bolster this segment. On the other hand, the non-ferrous metal powder segment is projected to experience the highest CAGR during the forecast period. This growth is driven by the increasing use of composite materials in additive manufacturing, the rising popularity of titanium powders for aerospace and automotive applications, and the development of new alloys. The market is also segmented by application into additive manufacturing, metal-injection molding, pressing & sintering, and other technologies. In 2024, the pressing & sintering segment is expected to hold the largest market share, driven by its cost-effectiveness and the increasing Page 1 of 3 Meticulous Research| sales@meticulousresearch.com

Global Metal Powder Market - 2024 to 2031 focus of manufacturers on expanding production capacity. For example, in February 2024, SAP PARTS Pvt. Ltd. in India installed a new metal powder press to enhance production capacity and improve compaction processes. However, the additive manufacturing segment is expected to see the fastest growth, with a projected CAGR of 9.0% during the forecast period. This growth is fueled by the development of new alloys, increased use of AM for prototyping and jewelry-making, and the production of lightweight components for various industries. Companies are also focusing on expanding metal powder production for additive manufacturing, as evidenced by Pometon S.p.A.'s establishment of a new division specializing in this area in 2021. In terms of the source of metal powder, the market is divided into pure/ore metal powder and recycled metal powder. By 2024, recycled metal powders are expected to account for over 56% of the market share, driven by increasing sustainability efforts and the development of metal powder recycling systems. The recycled metal powder segment is also expected to witness the highest growth rate during the forecast period, fueled by the use of scrap and discarded parts as feedstock for new powders in additive manufacturing and increased manufacturing activities. Regarding production methods, the market is segmented into chemical, mechanical, and physical methods. The mechanical segment is expected to dominate in 2024, accounting for over 44% of the market share due to its cost-effectiveness in producing metal powders. This segment is also anticipated to experience the highest growth rate, driven by the increased use of recycled metal powders and the ability of mechanical processes to produce ultrafine powders. Finally, the metal powder market is segmented by end-user industries, including automotive, aerospace & defense, heavy machinery & tools, medical & dental devices, oil & gas, chemical, construction, energy & power, transportation, and others. In 2024, the heavy machinery & tools segment is expected to lead the market, accounting for over 33% of the market share. This dominance is attributed to the increased use of metal powder in heavy machinery manufacturing due to its material flexibility, versatility, and cost-effectiveness. The aerospace & defense segment is expected to grow at the fastest rate during the forecast period, driven by the use of metal powders in producing high-strength aerospace components and the increasing use of 3D printing for prototyping in this sector. Geographically, the metal powder market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to dominate the market in 2024, accounting for over 37% of the total market share. This dominance is due to the region's strong manufacturing base, particularly in China, South Korea, and Japan, and the rapid growth of manufacturing in Southeast Asia. Additionally, Asia-Pacific is projected to experience the highest CAGR of 7.5% during the forecast period, driven by increasing industrialization, urbanization, and demand from the automotive sector. Key Players: Some of the key players operating in the metal powder market are H gan s AB (Sweden), GKN Powder Metallurgy (U.K.), Advanced Technology & Materials Co., Ltd. (China), Sandvik AB (Sweden), AMETEK Inc. (U.S.), Tekna Holding ASA (Canada), BASF SE (Germany), Aubert & Duval (France), Alcoa Corporation (U.S.), ATI Inc. (U.S.), Carpenter Technology Corporation (U.S.), RusAL (Russia), Rio Tinto (U.K.), Kymera International (U.S.), and Praxair S.T. Technology, Inc. (U.S.) Page 2 of 3 Meticulous Research| sales@meticulousresearch.com

Global Metal Powder Market - 2024 to 2031 Download Sample Report Here @ https://www.meticulousresearch.com/download- sample-report/cp_id=5860 Key questions answered in the report- Which are the high-growth market segments based on metal type, application, source, production, and end user? What was the historical market for metal powder? What are the market forecasts and estimates for the period 2024 2031? What are the major drivers, restraints, and opportunities in the metal powder market? Who are the major players, and what shares do they hold in the metal powder market? What is the competitive landscape like in the metal powder market? What are the recent developments in the metal powder market? What are the different strategies adopted by the major players in the metal powder market? What are the key geographic trends, and which are the high-growth countries? Who are the local emerging players in the metal powder market, and how do they compete with the other players? Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 3 of 3 Meticulous Research| sales@meticulousresearch.com