Metal Powder Market New Research Report Analysis, And Forecast
- The
global metal powder market was valued at ~ US$ 6.8 Bn in
2018, and is anticipated to expand at a CAGR of ~ 4% during
the forecast period.
- The
iron & steel type segment accounted for a major share of the global
metal powder market in 2018.
- The automotive
application segment held a significant share of the global metal powder
market in
2018. Around 96,804,390 vehicles (including passenger, light commercial,
and heavy commercial vehicles) were sold across the globe in 2017.
- Asia
Pacific is estimated to be one of the high growth regions of the global
metal powder market, owing to increase in the demand for metal powders
from the rapidly expanding automotive industry.
Key Drivers of the Metal Powder Market
- High
growth in the automotive industry is driving the metal powder market.
Components manufactured from metal powders are employed in the production
of an extensive range of automotive components. Key components manufactured
by using metal powders include transmission parts, engine parts, oil
pumps, exhaust systems, and chassis components.
- The
manufacturing components from metal powders through powder metallurgy
offers 40% or higher cost savings than other technologies
due to low energy requirements. The process deploys up to 97% of
the total metal, while consuming 43% less energy than
conventional technologies. Powder technology can be employed to produce
high-value components such as gears, bearings, and shafts. Hence,
expansion in the automotive industry and rise in sales of automobiles are
projected to drive the demand for metal powder in the near future
- The
demand for powder metallurgy to manufacture airframes is likely to
increase in the aerospace industry due to the rise in usage of composites,
titanium, and new aluminum and magnesium alloys. The need for more
efficient engines is anticipated to encourage producers to develop
higher-strength materials that can operate at higher temperatures.
- The
demand for powder metallurgy-based superalloy components is high in
various applications, such as turbine discs, as these do not possess
solidification defects inherent in castings and cast and wrought alloys.
This fuels the growth of the metal powder market.
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Asia Pacific Prominent Region of the Metal Powder Market
- Asia
Pacific was the key region of the global metal powder market in 2018,
primarily owing to the high growth in the automotive industry in China,
India, and Japan.
- China
accounted for a prominent share of the metal powder market in Asia Pacific
in 2018. The availability of low-cost labor and attractive incentive
policies from the Government of China is encouraging major automotive
producers and electrical & electronics manufacturers to strengthen
their position in the country. Therefore, the rise in automotive production
is expected to propel the demand for metal powders in China during the
forecast period.
Global Metal Powder Market – Key Developments
- In
May 2019,
GKN Powder Metallurgy opened its new powder metallurgy headquarters and
Additive Manufacturing (AM) Customer Center in North America. The 38,260
square foot facility, located in Auburn Hills, Michigan, helped the
company expand its global 3D printing network and scope of in-house powder
metallurgy capabilities.
- In
June 2017,
GKN Hoeganaes declared that it had started the production of titanium
powder for additive manufacturing, at its additive manufacturing facility
co-located with its Powder Innovation Center in Cinnaminson, New Jersey,
the U.S. This new powder atomizing facility is a part of the joint venture
with Germany-based TLS Technik. It provides customers with a source of
titanium and other specialized powders for additive manufacturing.
- In
May 2017,
Sandvik Osprey Ltd, a global leading producer of gas atomized metal
powders for advanced applications in net shape manufacturing, stated that,
it had entered into a partnership with Desktop Metal Inc. to be a
preferred supplier of a range of alloy powders for its recently-released
3D printing systems: DM studio and DM production systems.
- In
June 2014,
Rio Tinto established a new metal powder annealing facility in China.
The US$ 5 Mn plant in Suzhou, China, is expected to
expand the company's production capacity of metal powder by 8,000 metric
tons/year, and help boost its supply to the market in China.
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Global Metal Powder Market – Competition Landscape
- The
global metal powder market is highly fragmented with the presence of a
large number of players.
- High
capital investments and ongoing technological advancements in the metal
powder market are anticipated to lower the threat of new players in the
market.
- Key
players operating in the global metal powder market include Rio Tinto,
Höganäs AB, GKN Plc., Sandvik AB, BASF SE, JFE Holdings, Inc., Vale S.A.,
Alcoa Corporation, Laiwu Iron & Steel Group Powder Metallurgy Co.,
Ltd, GGP Metalpowder AG, Sarda Industrial Enterprises, Metal Powder
Company Limited (MEPCO), The Arasan Aluminium Industries (P) Ltd, MMP
Industries Ltd. (MMPIL), Deva Metal Powders Pvt. Ltd, Shakambari
Enterprises (India) Pvt. Ltd., Innomet Powders, Sri Kaliswari Metal
Powders Pvt Ltd, Industrial Metal Powders (India) Pvt. Ltd., and D M Metal
Powder.
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Global Metal Powder Market by Type
- Iron
& Steel
- Aluminum
- Copper
- Nickel
- Others
(including Precious Metals, Titanium, Cobalt, and Tungsten)
Global Metal Powder Market by Application
- Automotive
- Electrical
& Electronics
- Machinery
- Others
(including Consumer Goods, Aviation, Energy, and Medical)
Global Metal Powder Market by Region
- North
America
- U.S.
- Canada
- Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Russia
& CIS
- Rest
of Europe
- Asia
Pacific
- India
- Japan
- China
- ASEAN
- Rest
of Asia Pacific
- Latin
America
- Brazil
- Mexico
- Rest
Latin America
- Middle
East & Africa
- GCC
- South
Africa
- Rest
of Middle East & Africa
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