Global Steel Powder Market to Aggregate USD 5700 Million By 2026

Facts and Factors have authored "Steel Powder Market By Type (Atomization, Reduction, and Others) and By Application (Automobile, Machinery, Aerospace, Chemical Industry, and Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019-2026". Based on our analysis, the global steel powder market in 2019 is approximately USD 4300 Million and is anticipated to reach around USD 5700 Million by 2026. The anticipated CAGR for the steel powder market is around 3.5% from 2020 to 2026.

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The steel powder is a fine metal powder with particle size varying from 20 µm to 200 µm. The steel powder is obtained by the atomization, and reduction process. The application of the steel powder changes as per the particle size. The 3D printing market is estimated to create a significant opportunity for steel powder in the forthcoming time.

The rising demand for the manufacturing of complex parts is projected to drive the steel powder market. Also, rising demand in the end-use industries owing to technological advancement is also expected to propel the steel powder market. However, steel powder costs more than carrying out forging and casting operation which is predicated to impact the buying decision of the industries.

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According to the type, the market is bifurcated in the atomization, reduction, and others. The steel powder can be manufactured by using this method. It is expected that reduced powder is projected to have augmented demand owing to the use of steel powder in the chemical laboratory as the reducing agent, in the flame cutting due to high flammable property, and sintering of machined components. Atomized steel powder is also estimated to have rapid growth owing to the use of atomized steel powder in the powder metallurgy.

Moreover, according to the application, the market is bifurcated as automobile, machinery, aerospace, chemical industry, and others. The automobile market is estimated to have significant demand as electric vehicles are expected to replace the traditional fuel-powered vehicles within the next decade due to stringent regulations by the leading governments.

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Additionally, according to region market is segmented as North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific region. The North America region is estimated to have a larger share in the forecasted period owing to demand from the automotive industry. The U.S. sold around 17 million vehicles in the financial year of 2018. Also, alliances and mergers happening between Ford and Volkswagon, Honda and General Motors, Toyota and Mazda motors are projected to spur the market of the automotive industry. Steel powder is used in the automotive industry for the manufacturing of powder metallurgy components. The Asia Pacific region is expected to grow at the rapid rate in the forecasted time, owing to the consumption power of the Asia Pacific region. The Asia Pacific region holds more than half of the population of the world.

The key players in the market are Metal Powder Products, Höganäs, CNPC Powder Material, LaiwuIronandSteel Group, GKN (Hoeganaes), HainingFeida, Rio Tinto, Carpenter Technology, JFE Steel Corporation, JiandeYitong, Wuhan IronandSteel Group, Sandvik, NANOSTEEL, Pellets, Pompton Powder, Daido Steel, Ma Steel, AMETEK, and KOBELCO.

This report segments the Steel Powder market as follows:

Global Steel Powder Market: By Type Segment Analysis

Atomization
Reduction
Others

Global Steel Powder Market: By Application Segment Analysis

Automobile
Machinery
Aerospace
Chemical Industry
Others

Global Steel Powder Market: Regional Segment Analysis

North America
The U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-East Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
The Middle-East and Africa
GCC Countries
South Africa
Rest of Middle-East Africa

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