BANGALORE, India, Jan. 5, 2021
BANGALORE, India, Jan. 5, 2021 /PRNewswire/ -- The Metal Powder Market is Segmented by Type (Iron and Steel, Aluminum, Copper, Nickel, Others), Application (Automotive, Consumer Goods, Machinery, Others), Key Vendors and Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Metals & Mining category.
The global Metal Powder market size is projected to reach USD 9068.1 million by 2026, from USD 6813.4 million in 2020, at a CAGR of 4.9% during the forecast period 2021-2026.
Major factors driving the growth of metal powder market size are, increasing demand for sintered parts, growing focus on lightweight and electric vehicles, demand for medical products, and high consumer potential in Southeast Asian countries.
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METAL POWDER MARKET TRENDS INFLUENCING THE METAL POWDER MARKET SIZE
Growing customer perception of health, combined with increasing consumer willingness to pay more for finished products, is expected to drive the healthcare industry. Metal powder is used to manufacture connecting frames, foot adapter plates, blacking plates, surgical knives, forceps, caps, and blacking hooks in the healthcare field, thus driving the metal powder market size.
Furthermore, the emerging interest in titanium implants in the healthcare industry is expected to fuel the growth of the metal powder market.
The metal powder has a wide range of applications in transport & logistics, automotive, manufacturing, electrical & electronics industries. This varied application in many end-user industries is expected to drive the metal powder market size.
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METAL POWDER MARKET SHARE ANALYSIS
The automotive industry is expected to hold the largest metal powder market share of about 46% during the forecast period based on application. The automotive industry is one of the leading consumers of metal powder, where different parts are produced using press and sintering, additive manufacturing (AM), hot isostatic pressing (HIP), and metal injection moulding (MIM) processes. The press and sintering method dominates the automotive application segment in the manufacture of auto parts. However, other methods, such as AM, HIP, and MIM, experience faster penetration compared to the press and sinter.
North America is expected to hold a significant Metal Powder Market share due to the high disposable income.
Asia Pacific region is expected to witness the highest growth rate during the forecast period. The growth of the automotive industry drives and stimulates the development of the powder metallurgy industry. The market capacity of China's iron-based powder metallurgy continues to expand by 7% per year. The growth of automotive (motorcycle), household appliances, metallurgy, the chemical industry, and other major industries has contributed to the development of the metal powder industry.
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METAL POWDER MARKET SEGMENTS
Metal Powder Breakdown Data by Type
Metal Powder Breakdown Data by Application
Metal Powder Production Breakdown Data by Region
The following manufacturers are covered in this report:
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