PUNE, India, November 10, 2015 /PRNewswire/ --
The report "Metal Powder Market Type (Ferrous, Non-Ferrous), Metal Form (Recycled Metal, Ores), Production Method (Physical, Mechanical), Compaction Technique (Cold, Hot), Application (Transportation & Logistics, Industrial, Construction) - Global Forecast to 2020", published by MarketsandMarkets, The global Market for Metal Powder is projected to grow at a CAGR of 3.80% from 2015 to 2020, to reach USD 4,062.2 Million by 2020.
Browse 241 market data Tables with 63 Figures across 250 Pages and in-depth TOC on "Metal Powder Market"
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The market is segmented and revenues are forecasted on the basis of major regions, such as North America, Europe, Asia-Pacific, and the Rest of the World (ROW). The key countries are covered and their market sizes have been forecasted for each region. Further, the market is segmented and revenues are forecasted on the basis of application.
The market report defines and segments the global Metal Powder Market with analysis and forecasting of the global revenues for metal powder. It also identifies the driving and restraining factors of the market with analysis of trends, opportunities, and challenges.
The metal powder industry is influenced by the increase in population, consumer awareness, changing consumer lifestyles & preferences, urbanization, and development in economy, which drive the demand for sustainable products. This has resulted in the rise in disposable income of consumers and the ability to purchase a range of new products from automobiles, personal technology, and packaged foods. These factors will drive the demand for metal powder from these regions. The increase in the demand for powder metallurgy processes would eventually drive the Metal Powder Market. Advancement in technology and economies of scale process have enabled use of aluminum in a wide range of applications and lowered the production cost.
Growing demand for metal powder in emerging economies such as China is expected to drive the Metal Powder Market. Emerging countries such as China, India, Brazil, and countries in Southeast Asia are witnessing change in consumer preferences.
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The Metal Powder Market is observed to be matured in developing economies such as Europe and North America. The reason behind this is the high disposable income. The Asia-Pacific region formed the fastest-growing market for metal powder and is projected to grow at the highest CAGR of 5.01% during the forecast period. North America accounted for the largest market, with a share of 40.4% in 2014. The global Market for Metal Powder is projected to grow at a CAGR of 3.80% from 2015 to 2020, to reach USD 4,062.2 Million by 2020.
The development of economies plays an essential role in increasing the demand for metal powder in the global market. The key parameter that determines the growth of the Metal Powder Market in developing economies is the increase in consumption. The growing GDP (PPP) in emerging markets such as China, India, and Brazil is estimated to drive the demand for metal powder.
The global Metal Powder Market is marked with intense competition due to the presence of a large number of both, big and small firms. Mergers and acquisitions, investments, and expansions are the key strategies adopted by market players to ensure their growth in the market. Companies such as Sandvik AB (Sweden), Carpenter Technology Corporation (U.S.), Hoganas AB (Sweden), GKN Plc. (U.K.), Rio Tinto (U.K.), and Allegheny Technologies Incorporated (U.S.) are some of the prominent companies in the Metal Powder Market.
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