Powder Metallurgy To Account For 90% Application Of Metal Powder Over Next Ten Years

Metal powder is used with additive manufacturing to create complex objects such as automotive components, aircraft engine parts, and medical implants. Basically, metal powder is derived by cutting metal into powder form. Metal powder includes iron powder, aluminum powder, and titanium powder, and is used in various industries such as automotive, aerospace & defense, medical, and building & construction, besides others. Globally, the metal powder market is projected to grow at a moderate rate, driven by steady demand from end-use industries across the globe. However, powder metallurgy is anticipated to witness relatively significant growth over the forecast period. Consumption of metal powder in additive manufacturing and metal injection molding (MIM) applications is estimated to be the highest over the coming years. As per Persistence Market Research analysis, the market is projected to reach a market value of around US$ 20 Bn by 2031, expanding at a CAGR of more than 3% over the next ten years.

To remain ‘ahead’ of your competitors, request for a samples@ https://www.persistencemarketresearch.com/samples/23458

Key Takeaways from Market Study
• The market is growing steadily in India and China, owing to robust innovation and growth in the manufacturing of industrial equipment in these countries.
• Growing need for lightweight metal components is presenting significant opportunities for metal powder manufacturers.
• Direct Metal Deposition (Ded) with metal powder is anticipated to boost demand in future.
• Rising demand for metal powder for state-of-the-art technology is being witnessed across regions.
• By material, iron will hold around 80% of the overall market share.
• Powder metallurgy dominates the landscape with over 90% market share.
• North America and Europe, together, hold close to 60% share of the global market.
• Due to the COVID-19 pandemic, the global metal powder industry declined and experienced a CAGR of -1.8% in 2020. However, as things gradually get back to normal, the market will get back to its normal growth trajectory of around 3% in 2021.

For critical insights on this market, request for customization here @ https://www.persistencemarketresearch.com/request-customization/23458

Market Landscape
Key manufacturers of metal powder, such as Sandvik AB, GKN PLC, ATI Powder Metals, Praxair Surface Technologies Inc., Hö ganäs AB, AMG Advanced Metallurgical Group, Rio Tinto Plc, voestalpine BÖ HLER Edelstahl GmbH & Co KG, Aubert & Duval, American Axle & Manufacturing, Inc., Carpenter Powered Products, Royal Metal Powders, Australian Metal Powders Supplies Pty Ltd., CNPC Powder Group Co., Ltd., and Showa Denko Materials, are focused on strengthening their product portfolios and expanding their market footprint through the acquisition of smaller companies in the market.

For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/23458

Read More Trending “PMR Exclusive Article”
• Global Market Study on Refractories: https://www.persistencemarketresearch.com/market-research/refractories-market.asp
• India Market Study on De-aromatic Solvents: https://www.persistencemarketresearch.com/market-research/india-dearomatic-solvents-market.asp

Contact us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com

About us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.

This release was published on openPR.