Metal Powder Market Forecasted to Expand at 4.4% CAGR, Crossing USD 12.1 billion by 2031

Metal powder market (금속분말 시장) worth US$ 7.8 billion in 2021. A CAGR of 4.4% is expected between 2022 and 2031. In 2031, the global market for metal powder is expected to reach US$ 12.1 billion. The metal powder market is expected to benefit from rapid advances in additive manufacturing technologies, such as 3D printing.

Increasingly sophisticated AM processes and lower costs will increase demand for metal powders in automotive, aerospace, healthcare, and other industries. Metal powder manufacturers can produce complex and customized metal components by reducing waste and improving efficiency.

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Key Findings of the Market Report

The iron & steel powder segment will dominate the market during the forecast period.

In terms of volume, aluminum also contributed nearly 13% to the global metal powder market.

Metal powder business in the automotive industry held almost 64% of the global market in 2021.

A significant 37.8% share of the global metal powder market in 2021 was held by Asia Pacific.

Metal powder consumption in Europe contributed significantly to the global market in 2021.

Global Metal Powder Market: Key Players

Metal powder market shares are dominated by large-scale vendors, with the majority controlled by a few large players. Researchers and engineers spend a great deal of time and money developing environmentally friendly products. Key players take advantage of mergers and acquisitions to expand product portfolios.

Prominent Metal Powder Players Profiled in the Report

BASF SE
Sandvik AB
GKN Plc.
Rio Tinto
Höganäs AB
JFE Holdings, Inc.
Vale S.A.
Alcoa Corporation
Laiwu Iron & Steel Group Powder Metallurgy Co. Ltd
GGP Metal powder AG
Sarda Industrial Enterprises
Metal Powder Company Limited

Global Metal Powder Market: Growth Drivers

Metal powders are used to create electronics, high-performance alloys, and lightweight components. Metal powders are increasingly used for traditional powder metallurgy and additive manufacturing in the automotive and aerospace industries in response to fuel efficiency and emission restrictions. Metal powder market growth has been fueled by advancements in additive manufacturing technologies.

With additive manufacturing or 3D printing, complex metal components can be produced precisely and cost-effectively. Metal powders can be efficiently used in industries such as healthcare to manufacture custom implants and prosthetics. As additive manufacturing processes become more versatile and efficient, the metal powder market is expected to grow significantly.

Adopting metal powders is driven by a desire for sustainable and environmentally friendly manufacturing practices. Using metal powders instead of traditional manufacturing methods, additive manufacturing reduces energy consumption and material waste.

Recyclability and environmental friendliness also contribute to metal powders' appeal. Adopting metal powders is aligned with sustainability goals, further boosting that market's growth as industries worldwide strive to comply with environmental regulations.

Global Metal Powder Market: Regional Landscape

Asia Pacific is expected to experience growth in the metal powder market. China, Japan, South Korea, and India have vibrant manufacturing sectors that drive the metal powder market. With the rise in automotive, electronics, and healthcare sectors, metal powders are used in various industries.

Additive manufacturing and powder metallurgy have become increasingly popular due to the demand for lightweight and high-performance materials in manufacturing processes.

Metal powders have gained popularity in Asia Pacific due to rapid technological advancements and investments in additive manufacturing. Countries like China and Japan have led the adoption and advancement of additive manufacturing techniques.

In the Asia Pacific, the market for metal powders has grown rapidly due to additive manufacturing's ability to produce complex and customized metal components with high precision.

Global Metal Powder Market: Segmentation

By Type

Iron & Steel
Aluminum
Copper
Nickel
Others

By Application

Automotive
Electrical & Electronics
Machinery
Others

By Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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