Centrifugal Casting Alloy Powder Market Share Driven by Advanced Manufacturing Demand and Material Performance Requirements | Valuates Reports

Centrifugal Casting Alloy Powder Market Size
The global market for Centrifugal Casting Alloy Powder was valued at US$ 746 million in the year 2024 and is projected to reach a revised size of US$ 1221 million by 2031, growing at a CAGR of 7.3% during the forecast period.

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The Centrifugal Casting Alloy Powder Market is witnessing steady market growth as industries increasingly prioritize high-performance metallic materials with superior mechanical strength, corrosion resistance, and dimensional accuracy. Evolving market trends are shaped by the rapid adoption of advanced manufacturing technologies, growing demand for customized metal components, and stricter quality standards across aerospace, automotive, energy, and medical sectors. Technological advancements in powder production processes, combined with rising emphasis on material efficiency and reduced waste, continue to influence market size expansion and long-term market forecast, while buyer behavior increasingly favors reliable, application-specific alloy solutions.

By type, nickel-based alloy powders hold the largest market share due to their exceptional thermal stability, oxidation resistance, and widespread use in high-stress and high-temperature environments. Cobalt-based alloy powders are expanding at a faster pace as demand increases for wear-resistant and corrosion-resistant materials in critical applications. Iron-based alloy powders maintain a strong presence owing to cost efficiency and broad industrial usage, while other alloy types support niche applications, contributing to overall market growth and maintaining a balanced type segment structure.

In terms of application, additive manufacturing dominates the market share, driven by its ability to produce complex geometries, reduce material wastage, and enable rapid prototyping for high-value components. Thermal spraying represents one of the fastest-growing application segments as industries focus on surface protection, component life extension, and performance enhancement. Metal injection molding continues to contribute significantly to market size by supporting high-volume production of precision parts, while other applications strengthen demand diversity and support favorable market trends.

Leading companies such as HöganäsAB, Sandvik Group, ATI Metals, GKN Powder Metallurgy, and AMETEK command a substantial market share through strong material science expertise, advanced powder production capabilities, and broad application portfolios. Players including VDM Metal, Praxair Surface Technologies, Kennametal, Nanjing Hanrui New Materials, Tianjin Zhujin Technology Development, and Shanghai Zhuyu Material Technology are expanding rapidly by enhancing alloy customization, improving powder consistency, and strengthening regional manufacturing footprints, reinforcing competitive intensity and innovation-led market growth.

Regionally, North America and Europe dominate the market due to strong industrial infrastructure, early adoption of additive manufacturing, and consistent demand from aerospace and energy sectors. Asia-Pacific shows the fastest market growth, supported by expanding manufacturing capacity, rising investment in advanced materials, and increasing adoption of modern production technologies across China, Japan, South Korea, Taiwan, and India. Southeast Asia and Latin America are gaining momentum as industrial expansion and localized production increase. The market forecast remains positive, driven by continued innovation in alloy development, expanding capacity, growing adoption of advanced manufacturing techniques, and supportive regulatory frameworks focused on material performance and industrial efficiency.

Segment by Type

• Cobalt Based
• Nickel Based
• Iron Based
• Others

Segment by Application

• Additive Manufacturing
• Metal Injection Molding
• Thermal Spraying
• Others

By Company

HöganäsAB, Sandvik Group, ATI Metals, GKN Powder Metallurgy, AMETEK, VDM Metal, Praxair Surface Technologies, Kennametal, Nanjing Hanrui New Materials, Tianjin Zhujin Technology Development, Shanghai Zhuyu Material Technology

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