Comprehensive Overview of the Metal Powder Market Forecast
Meticulous Research® has recently published a report titled, ‘Metal Powder Market by Metal Type, Application, Source, Production Method, End User Geography—Forecasts to 2031’. According to this report, the metal powder market is poised to reach a valuation of $10.2 billion by 2031, growing at a CAGR of 6.2% from 2024 to 2031. The driving factors include rising demand for additive manufacturing and increased metal recycling efforts. However, potential health risks associated with metal powder usage may restrain market growth.
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Growth Opportunities and Challenges
The growing demand for lightweight components across multiple industries, combined with advancements in powder metallurgy, presents significant growth opportunities. However, ensuring the quality and consistency of metal powders remains a major hurdle for manufacturers.
Key Metal Types Driving the Market
The market is segmented into ferrous and non-ferrous metal powders. In 2024, ferrous metal powders are expected to dominate with a share of over 65%, largely due to their wide application in industries such as defense, aerospace, and construction. Meanwhile, the non-ferrous segment is expected to grow at the fastest rate, driven by the increasing use of titanium in various industries and innovations in alloy development.
Application Segmentation
Among applications, pressing sintering is projected to account for the largest market share in 2024. This is due to its cost-effectiveness and the ability to produce solid parts with complex geometries. However, additive manufacturing is anticipated to experience the highest growth, with a projected CAGR of 9%, driven by innovations in lightweight component manufacturing.
Sustainable Sourcing and Production Methods
Recycled metal powder is expected to dominate the market by source, with over 56% market share in 2024. The growing focus on sustainability and recycling is propelling this segment, which is also expected to register the highest CAGR during the forecast period. In terms of production methods, the mechanical method, due to its cost-efficiency, will hold the largest share of 44% in 2024 and experience the fastest growth.
Key End-Use Industries and Geographical Insights
Heavy machinery tools are expected to lead the end-user segment in 2024, while aerospace defense will witness the highest growth. Regionally, the Asia-Pacific market, driven by industrial growth in China, Japan, and South Korea, will dominate with a 37% share and the highest projected CAGR of 7.5%.
Conclusion
The metal powder market is set for robust growth through 2031, driven by increased demand for sustainable production methods and innovations in additive manufacturing. However, addressing quality control and health safety challenges will be crucial for stakeholders.
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Key Players:
Some of the key players operating in the metal powder market are Höganäs 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.)
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?
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