Metal Powder Market to Register a Moderate CAGR During the Forecast Period Forecast Years

CITY, Country, 2022-Jun-14 — /EPR Network/ —

The Metal Powder Market is meant to grow on a splendid note in the next decade. With technology creeping in, the time-consuming routine is being taken over by telehealth/e-Health records. Almost everything that was happening in person has been taken over by remote monitoring. This has helped in transcending the geographical barriers as well. These would be the trends concerning the Metal Powder Market in the future.

Globally, the metal powder market is projected to grow at a moderate rate, driven by steady demand from end-use industries across the globe. However, powder metallurgy is anticipated to witness relatively significant growth over the forecast period. Consumption of metal powder in additive manufacturing and metal injection molding (MIM) applications is estimated to be the highest over the coming years.

As per Persistence Market Research analysis, the market is projected to reach a market value of around US$ 20 Bn by 2031, expanding at a CAGR of more than 3% over the next ten years.

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Key Takeaways from Market Study

• The market is growing steadily in India and China, owing to robust innovation and growth in the manufacturing of industrial equipment in these countries.
• Growing need for lightweight metal components is presenting significant opportunities for metal powder manufacturers.
• Direct Metal Deposition (Ded) with metal powder is anticipated to boost demand in future.
• Rising demand for metal powder for state-of-the-art technology is being witnessed across regions.
• By material, iron will hold around 80% of the overall market share.
• Powder metallurgy dominates the landscape with over 90% market share.
• North America and Europe, together, hold close to 60% share of the global market.
• Due to the COVID-19 pandemic, the global metal powder industry declined and experienced a CAGR of -1.8% in 2020. However, as things gradually get back to normal, the market will get back to its normal growth trajectory of around 3% in 2021.

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COVID-19 Impact

Although the ongoing COVID-19 pandemic led to a slowdown in the demand for metal powder from the automotive industry, besides others, due to lockdowns and trade restrictions, demand is set to pick up with the resumption of economic activities in 2021. Market growth is expected to be around 3% in 2021 over 2020, and this trend will continue through 2031.

Market Landscape

Key manufacturers of metal powder, such as Sandvik AB, GKN PLC, ATI Powder Metals, Praxair Surface Technologies Inc., Hö ganäs AB, AMG Advanced Metallurgical Group, Rio Tinto Plc, voestalpine BÖ HLER 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., and Showa Denko Materials, are focused on strengthening their product portfolios and expanding their market footprint through the acquisition of smaller companies in the market.

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