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SAN FRANCISCO , May 31, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Metal Powders - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE What's New for 2022?
Edition: 22; Released: May 2022 Executive Pool: 6121 Companies: 178 - Players covered include Allegheny Technologies Incorporated; American Chemet Corp.; AMETEK Specialty Metal Products Inc.; Burgess-Norton Manufacturing Company; Carpenter Technology Corporation; Daido Steel Co., Ltd.; Diamet Corporation; Dowa Holdings Co., Ltd.; Erasteel SAS; F. W. Winter Inc. & Co.; Federal-Mogul Corporation; Fine Sinter Co., Ltd.; Hoeganaes Corp.; H.C. Starck GmbH; JFE Steel Corp.; Kennametal, Inc.; Kobe Steel , Ltd.; Kymera International; Miba AG; Norilsk Nickel; PMG Holding GmbH; Pometon SpA; Rio Tinto Metal Powders; Showa Denko Materials Co., Ltd.; Sumitomo Electric Industries, Ltd. and Others. Coverage: All major geographies and key segments Segments: Type (Ferrous, Non-Ferrous, Other Types); Production Method (Physical, Chemical, Mechanical); Application (Automotive, Aerospace & Defense, Construction, Electrical & Electronics, Healthcare, Other Applications) Geographies: World; USA ; Canada ; Japan ; China ; Europe ; France ; Germany ; Italy ; UK; Rest of Europe ; Asia-Pacific ; Rest of World.
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Amid the COVID-19 crisis, the global market for Metal Powders estimated at US$4.3 Billion in the year 2022, is projected to reach a revised size of US$5.5 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. Ferrous, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR, while growth in the Non-Ferrous segment is readjusted to a revised 7.5% CAGR. The rising application of metal powders in the renewable energy segment along with the increase in demand for vehicles especially electric vehicles is pushing demand for different metal powders. The modern breed of vehicles possesses optimized performance and efficiency parameters. This factor along with the increased adoption of hybrid and electric vehicles that satisfy burgeoning environmental concerns has encouraged the growth of the world market. The inception of incentive-linked schemes for electric vehicle purchases along with strict government protocol regarding carbon emissions has encouraged the need for low carbon-emitting vehicles ultimately encouraging market growth. Metal powders are widely used for manufacturing structural components. Increase in demand for such structural components from various applications including home appliances, motorcycles, agriculture equipment and automotive parts among others is creating demand for metal powders. Iron & steel constitute the major ingredients in structural component manufacturing. Also, metal powders are expensive compared to billets, steel bars and such other raw materials in certain applications. Furthermore, when metal powder is used it requires specific equipment for processing, which are expensive.
However, technological advancements are expected to help overcome such limitations over the coming years. Development of improved production techniques and better understanding of processes used in powder manufacture will continue to be critical to growth. These powders provide the foundation for numerous strategically significant net-shape processing operations such as injection molding, sintering, direct laser fabrication, and hot and cold isostatic pressing. Technological advancements in Powder Metal (PM) forging, spray forming, hot isostatic pressing, direct powder rolling, high temperature vacuum sintering, and metal injection molding are expanding the metal powder market.
The rising adoption of three-dimensional printing has further encouraged market growth. A unique process adopted for processing metal powders is additive manufacturing, which is also known as 3D printing, freeform fabrication or rapid prototyping. Additive manufacturing is a process of combining various materials to form objects that are placed layer upon layer from 3D model data as against machining, which follows subtractive manufacturing methodologies. 3D printing involves process in which materials are deposited with the help of either a print nozzle or head or a different printer technology. Three-dimensional printing implements three-dimensional data for creating layered components that minimize material wastage and negates the usage of complicated and expensive tools. The process of three-dimensional printing needs an extensive array of products that allow mass production. some of these products encompass nickel, aluminum, cobalt, and copper. Conventional printing machines can use just a single variant of material but three-dimensional printers can use many metal powders at the same time for printing minimizing the overhead expense needed for manufacturing. The product demand has risen in object manufacturing domains commanding optimum stability and strength along with the capacity of tolerating difficult environments, high exposure to chemicals, and high temperatures. The metallic powders can be either ferrous or nonferrous types. The ferrous powders have been the traditional market leaders as they have diverse applications in different domains like automotive and aerospace.
The enhanced use of machinery along with the rise in industrialization and automation around the world has encouraged the growth of the market. Surface coating, stains and dyes, magnetics, and friction products are some goods that make heavy use of ferrous metal powders. The chemical domain is poised to grow at a high rate in the near future due to enhanced adoption by different industries like automotive, aerospace, and healthcare due to greater versatility. The increasing rise of usage of Metal granules/ powders in different paints for enhancing reflectivity, robustness, and cost-effectiveness is also propelling market growth. The use of metal granules offers a metallic finish to all items creating a visual effect of solid casting. Metal powders have a lot of versatility and they lead to the reduction of waste in the manufacturing processes of coatings and other metal parts. Some easily accessible products in thar market are nickel, zinc iron, aluminum, cadmium oxide, manganese, and tin powders. There has been an increasing demand for aluminum because of its inflammable features and versatility. Aluminum powder is used to make solar cells. The growing cognizance about the usage of renewable energy sources along with increased investment for the creation of solar energy has encouraged higher demand for aluminum across the world. Fireworks and pyrotechnics use aluminum powder extensively due to the latter's flammable features. Zinc is another material commanding wide usage in metal plating, paints and precision die casting. The creation of brass production and galvanized steel also rely heavily on zinc powder. Nickel's demand has increased considerably as it has corrosion resistance that is useful to the marine industries. More
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