Metal Powder Market Size, Share, and Trends 2024 to 2034

The global metal powder market was valued at USD 5.81 billion in 2023 and is predicted to surpass around USD 10.97 billion by the end of 2033, representing an impressive CAGR of 6.6% during the forecast period 2024 to 2033.

Key Takeaways

• Asia Pacific led the global market with the highest market share of 34.12% in 2023.
• By Type, the ferrous segment has held the largest market share in 2023.
• By Application, the aerospace and defense segment captured the biggest revenue share in 2023.
• By Technology, the press and sinter segment registered the maximum market share in 2023.

Metal Powder Market in the Asia Pacific 2024 To 2033

The Asia Pacific metal powder market size was valued at USD 1.39 billion in 2023 and is expected to reach USD 2.76 billion by 2033, growing at a CAGR of 7.16% from 2024 to 2033.

This research report covers crucial trends and projections of metal powder products across diverse geographical regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia Pacific led the global metal powder market in 2023 with a substantial market share. This growth is credited to the intensification in population, an upsurge in disposable income, and development in spending in the electrical & electronics sector. India, China, and Japan are key contributors to the metal powder market in this region.

Key market Insights:

Metal powders are effectively employed in a broad spectrum of applications such as welding, chemical, metallurgical processes, iron fortification, and friction among others. Augmented output in numerous crucial industries such as batteries, motor vehicles, electrical equipment, and machinery manufacturing will remain the key driving force for the growth of this market.

The substantial growth of the metal powders market across the globe is mainly attributed to the noteworthy growth of the manufacturing sector in established and emerging nations. Growing R&D expenditure, technological progressions, and a substantial upsurge in aerospace and automotive production capacities also have caused an augmented need for metal powder worldwide.

Decisive factors accountable for market growth are:

• A rise in the manufacturing output of industrial and automotive components is estimated to generate demand for metal in these industries.
• Intensifying need for lightweight components in the automotive industry has offered stimulus for the growth of the global metal powder market.
• Augmented efficiency of metal is probable to emphasize the requirement for metal powder within the automotive component manufacturing sector

Metal Powder Market Scope

Type Insights

Ferrous Emerged as The Largest Segment and Accounted for a Major Market Share In 2023

The ferrous segment involves metal powders encompassing of all kinds of steel and their alloys, iron, and alloying elements including molybdenum, nickel, and chromium. Steel is one of the inexpensive types of metal in additive manufacturing and finds application in a mixture with other metals like bronze. The non-ferrous product segment comprises metal powders made of copper, zinc, aluminum, tungsten, titanium, magnesium, and others

Application Insights

Aerospace and Defense Application Sector Dominated Metal Powder Market Revenue

The aerospace and defense sector reported for significant revenue stake in the total metal powder market. Players involved in the metal powder market are rapidly undertaking expansion activities via numerous partnerships and joint ventures. In July 2020, MDA Corporation collaborated with BurloakTechnologies with the help of 5 years agreement to develop space applications with the help of additive manufacturing. This contract is projected to benefit both companies and improve design and manufacturing competencies in years to come.

Technology Insights

Press and Sinter Technology Segment Occupied a Major Volume Share of Above 90% in 2023

Press and sinter is a traditional powder metallurgy process. It is cheap and yields near-net-shape components. It encompasses thermal treatment or compaction at a temperature lesser than the melting point of metal to harvest a green compact.

Metal Powder Market Comapnies

Huge capital investments and continuing technological progressions in the metal powder market are projected to lower the risk of new entrants in the market. There is forceful competition amongst metal powder manufacturers in North America and Europe on account of the occurrence of a large number of local and international companies. Metal powder producers are concentrating on the development of their production competencies to furnish to the increasing demand for metal powder and to augment their footmarks in the worldwide market. Leading competitors contending in the global metal powder market are as follows:

• Advanced Technology & Materials Co., Ltd
• MolyWorks Materials Corporation
• GKN PLC
• Rio Tinto Metal Powders
• Hoganas AB
• POLEMA
• Rusal
• Liberty House Group
• Sandvik AB

In order to better recognize the current status of acceptance of metal powder, and policies adopted by the foremost countries, Precedence Research projected the future evolution of the metal powder market. This research study bids qualitative and quantitative insights on metal powder market and the valuation of market size and growth trends for budding market segments.

Major Market Segments Covered:

By Type

• Ferrous
• Non-ferrous

By Technology

• Press & Sinter
• Additive Manufacturing
• Metal Injection Molding
• Others

By Application

• Healthcare
• Automotive
• Aerospace & Defense
• Others

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Rest of the World