Metal Powders Market to Grow by USD 2.25 Billion (2024-2028) Driven by PM Technology, AI's Impact on Market Trends - Technavio

NEW YORK, Sept. 3, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- The global metal powders market size is estimated to grow by USD 2250 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.26%  during the forecast period. Increasing use of PM technology is driving market growth, with a trend towards increasing focus on titanium metal powders. However, environmental issues regarding metal powders  poses a challenge. Key market players include Alcoa Corp., American Chemet Corp., AMETEK Inc., AMG Advanced Metallurgical Group NV, Allegheny Technologies Inc., BASF SE, Carpenter Technology Corporation, CNPC Powder Group Co. Ltd., FOMAS S.p.A., GKN Sinter Metals Engineering GmbH, Hoganas AB, Jiande Yitong Metal Powder Co. Ltd., JFE Holdings Inc., Kennametal Inc., Kymera International, Linde Plc, Miba AG, Rio Tinto Ltd., Sandvik AB, and voestalpine AG.

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Market Driver

The global metal powders market has seen significant growth in the usage of titanium metal powders. This trend is primarily driven by the rising demand for lightweight, high-strength materials in industries like aerospace, automotive, and medical. Titanium metal powders offer desirable properties such as high strength, low density, good corrosion resistance, and a high melting point. These properties make them suitable for applications requiring such characteristics. Moreover, the adoption of additive manufacturing or 3D printing technology is increasing rapidly, and titanium metal powders are an optimal choice due to their excellent properties for this process. Consequently, the focus on titanium metal powders in the metal powders market is anticipated to continue during the forecast period, fueled by the expanding need for lightweight materials and the growing implementation of additive manufacturing technologies. 

Metal powders market is experiencing significant growth due to increasing demand from various industries. Key sectors driving this trend include the air passenger market and electronics, specifically laptops, TVs, and mobile phones. Base materials like Chromium, Cobalt, and metal carbides are in high demand for metal part production in these industries. Additive manufacturing (AM) technologies, such as atomization towers, are revolutionizing production processes. Shanghai, China, is a major hub for metal powders production due to its large consumer base and emerging markets. However, the market faces challenges from lockdowns and travel restrictions, disrupting supply chains and quarantined workforces, causing shutdowns. The automotive sector also contributes to the demand for metal powders, with a focus on lightweight electric vehicles. The Ferrous type segment is forecasted to dominate the market, with emerging countries driving growth. Despite these challenges, the market is expected to reach significant volumes (kilo tons) in the coming years. The chemical method is a popular production process, but AM is gaining popularity due to its ability to produce complex shapes and customized parts with precise particle size distribution, surface condition, and particle shape. 

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Market Challenges

• Metal dust, a prevalent issue in various industries, poses significant health risks and environmental concerns for the global metal powders market. These microscopic particles, often invisible to the naked eye when airborne, can enter the human body through skin absorption and ingestion, leading to health issues. The most concerning hazards are related to combustion and inhalation, resulting in occupational hazards and various health conditions. Pneumoconiosis, systemic poisoning, hard metal disease, inflammatory lung injuries, cancer, and allergic responses are common health effects, with severity depending on the metal's nature, particle diameter, dust concentration, and exposure duration. Finely divided combustible metal powders, such as manganese, iron, titanium, and aluminum, can even lead to explosions. Regulations and guidelines monitoring metal powder effluents are crucial for the metal powders market, with the Environmental Protection Agency (EPA) setting limits on discharges into water bodies and the introduction of impurities into publicly owned treatment works, particularly for non-ferrous metal powders. Restrictions on metal powder production or consumption due to environmental concerns can hinder market growth, making it essential for industry players to comply with regulations and invest in sustainable production methods.
• The Metal Powders Market faces several challenges in the production and application of powders for factories making Iron, Aluminum, Bronze, Nickel, and other alloys. In the medical industry and defense sector, there is increasing demand for lightweight parts, driving factors being the need for miniaturization and improved performance in 3D-printing technologies, electronic devices, and medical equipment. However, environmental implications and reactivity, flow ability, compressibility, porosity, hardenability, and other bulk properties pose challenges. Exporters must consider market demand, reactivity, and compressibility in supplying to industries producing brake pads, magnetic products, pulleys, gears, and other components. Short term, annual vehicle production, Boeing Commercial Outlook, airplanes, global deliveries, airplane fleet, emerging economies, new energy vehicles, and domestic aviation market are significant drivers.

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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 global metal powders market holds substantial growth in the automotive sector due to its usage in manufacturing various components. Notable metal powders like aluminum, copper, iron, and steel are employed in producing engine parts, brakes, bearings, gears, and clutch plates. The escalating demand for lightweight materials and superior components in the automotive industry fuels the market expansion. Metal powders offer advantages such as enhanced strength, superior wear resistance, reduced weight, and heightened efficiency. For instance, aluminum powders are utilized in automotive component fabrication, leading to substantial weight reduction and improved fuel efficiency. Similarly, iron powders are applied in brake pad production, boosting performance and durability. The burgeoning demand for electric vehicles propels the need for metal powders in the automotive industry, particularly for battery components' production. The anticipated growth of electric vehicles is projected to bolster the metal powders market in the forthcoming years. Consequently, the automotive segment's growth in the global metal powders market is expected to continue during the forecast period.

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Research Analysis

Metal powders, a critical component in various industries, have experienced significant disruptions due to the global pandemic. Lockdowns and travel restrictions have led to quarantined workforces and shutdowns of factories, disrupting the supply chain for metal powders. The automotive sector, a major consumer of metal powders for 3D printing and other applications, has been hit hard. The chemical method is the most common process for producing metal powders, including ferrous types like iron and non-ferrous types such as aluminum, bronze, and nickel. Emerging countries are expected to drive growth in the metal powders market, particularly in the production of lightweight electric vehicles. Forecasts suggest a steady increase in volume (kilo tons) over the next few years, but the industry faces challenges in overcoming the current disruptions. The medical and defense industries also rely on metal powders for critical applications.

Market Research Overview

Metal powders, also known as metallic powders, are fine particles of metals used in various industries for manufacturing components through additive manufacturing techniques like 3D printing. The market for Metal Powders has been impacted by the global lockdowns and travel restrictions due to the COVID-19 pandemic, causing quarantined workforces and shutdowns of factories, leading to disrupted supply chains. The automotive sector, a significant consumer of metal powders, has been hit hard due to reduced annual vehicle production. The Ferrous type segment, including Iron, Steel, and Alloys, dominates the Metal Powders market. Emerging countries are expected to drive market growth, with increasing demand for lightweight electric vehicles and 3D-printing technologies. The Chemical method is the most common process for producing metal powders. Key applications include the production of lightweight parts for the automotive industry, magnetic products, brake pads, and various components for the aerospace, medical, and defense industries. The market demand for metal powders is driven by their unique bulk properties, such as reactivity, flow ability, compressibility, porosity, hardenability, and particle size distribution. In the short term, the market is facing challenges due to environmental implications, quarantined workforces, and disrupted supply chains. However, the long-term outlook remains positive, with forecasts indicating steady growth. Major metal powders include Iron, Aluminum, Bronze, Nickel, and their alloys, such as Chromium, Cobalt, and Metal carbides. Applications span across various industries, including the medical industry, defense industry, and electronic devices. The market for Metal Powders is significant in the production of components for the aviation industry, with Boeing Commercial Outlook predicting increased global deliveries and an expanding airplane fleet. Emerging economies, new energy vehicles, and the domestic aviation market are expected to contribute to the growth of the Metal Powders market. Exporters play a crucial role in the Metal Powders market, with major production hubs in Shanghai, China, and other countries. Base materials and metal part production are critical factors in the Metal Powders market, with surface condition and particle shape influencing the final product's properties. Atomization towers and Catamold businesses are essential in the production of metal powders, with various particle sizes and shapes produced through these processes. The market for Metal Powders is expected to continue growing, driven by the increasing demand for lightweight parts and the expanding applications in various industries.

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

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SOURCE Technavio