Metal Powders Market size is set to grow by USD 2340.91 mn from 2023-2027, increasing use of pm technology to boost the market growth, Technavio

NEW YORK, May 16, 2024 /PRNewswire/ -- The global metal powders market size is estimated to grow by USD 2340.91 mn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 6.81% during the forecast period. 

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Key Market Trends Fueling Growth

The metal powders market has seen significant growth in the adoption of titanium metal powders. Factors driving this trend include the demand for lightweight, high-strength materials in industries like aerospace, automotive, and medical. Titanium's excellent mechanical properties, such as high strength, low density, and good corrosion resistance, make it ideal for various applications. Its high melting point also suits high-temperature uses. Titanium's use in additive manufacturing has surged, along with the rise of AM in TVs, mobile phones, refrigerators, radiators, and industrial equipment. The pandemic's impact, including lockdowns and travel restrictions, has affected the automotive sector, leading to increased interest in lightweight electric vehicles. Titanium metal powders are produced using chemical methods and are available in various particle sizes, shapes, and alloys, including those with chromium, cobalt, and metal carbides. The forecasted volume growth in kilo tons is expected to continue despite quarantined workforces and disrupted supply chains. 

Market Challenges

• Metal powders, derived from various metals such as iron, aluminum, bronze, nickel, and others, pose significant health and environmental concerns. These microscopic particles, often invisible in the air, can enter the human body through skin absorption and ingestion, leading to health issues. Combustion and subsequent inhalation are particularly hazardous. The occupational risks associated with metal powders are extensive, with potential health impacts ranging from minor impairments to life-threatening conditions, including pneumoconiosis, systemic poisoning, hard metal disease, inflammatory lung injuries, cancer, and allergic responses. The nature and type of metal powders, influenced by their chemical, mineralogical, and physical properties, determine their health hazards. These powders are extensively used in industries like factories, defense, medical, dental, and electronics, as well as in lightweight parts, 3D-printing technologies, and fuel systems. Annual vehicle production, airplanes, global deliveries, and emerging economies are significant markets for metal powders, with applications in various industries such as automotive components, magnetic products, and pulleys.

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Segment Overview 

This metal powders market report extensively covers market segmentation by

1. Application 
• 1.1 Automotive
• 1.2 Aerospace and defense
• 1.3 Healthcare
• 1.4 Construction
• 1.5 Others
2. Type 
• 2.1 Ferrous metal powder
• 2.2 Non-ferrous metal powder
• 2.3 Alloy
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Automotive- The metal powders market is segmented by application in various industries, with a significant portion allocated to the automotive sector. In this industry, factories utilize iron, aluminum, bronze, nickel, and other metal powders to manufacture lightweight parts for automobiles. These components include engine parts, brakes, bearings, gears, and clutch plates. The increasing demand for high-performance vehicles and fuel efficiency drives market growth. Metal powders offer advantages such as increased strength, improved wear resistance, reduced weight, and increased efficiency. For instance, aluminum powders are used to produce lightweight automotive components, reducing vehicle weight and improving fuel efficiency. Additionally, metal powders find applications in the medical industry for implants and prosthetics, in the defense industry for armor and ammunition, and in 3D-printing technologies for electronic devices. The environmental implications of metal powders production and usage are a short-term concern, but long-term driving factors include market demand and bulk properties such as reactivity, flow ability, compressibility, porosity, hardenability, and specific applications like brake pads, magnetic products, pulleys, differential gear sets, helical gears, bevel gears, planetary gears, sprockets, output pulleys, fuel system flanges, exhaust flanges, access covers, spacers, racks, and exporter deliveries to the automotive, aerospace, and new energy vehicle industries. Annual vehicle production in emerging economies and global deliveries to airplane fleets further expand market reach. Metal powders are also used in airplanes, electronic products like laptops, and new energy vehicles.

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Research Analysis

The Metal Powders Market has experienced significant disruptions due to lockdowns and travel restrictions caused by the global pandemic. The Automotive sector, a major consumer of metal powders in the Ferrous type segment, has been particularly affected. The production of metal powders through chemical methods has been impacted by quarantined workforces and the shutdown of factories. The disrupted supply chain has led to a decrease in the volume (kilo tons) of metal powders produced in emerging countries. However, the demand for lightweight electric vehicles is expected to drive growth in the long term. The use of metal powders in 3D printing is also forecasted to increase, providing opportunities for market expansion. Iron, Aluminum, and Bronze are among the key types of metal powders in high demand.

Market Research Overview

The Metal Powders Market encompasses a diverse range of fine particles used in various industries. These powders are produced through processes such as mechanical comminution, chemical reactions, and pyrolysis. The market is segmented based on the type of metal powders, including ferrous and non-ferrous. Factors driving the growth of the market include increasing demand from industries like automotive, aerospace, and construction. Additionally, advancements in technology have led to the development of new applications for metal powders, such as in 3D printing and electronics. The market is also influenced by factors like supply and demand dynamics, regulatory frameworks, and price trends. Overall, the Metal Powders Market is expected to grow significantly in the coming years due to its wide-ranging applications and the continuous evolution of technology.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Automotive
• Aerospace And Defense
• Healthcare
• Construction
• Others
• Type
• Ferrous Metal Powder
• Non-ferrous Metal Powder
• Alloy
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio