Metal Powder Market to be Worth $10.2 Billion by 2031

June 10, 2024

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Meticulous Research®, a leading global market research company, recently published a report titled, “Metal Powder Market by Metal Type (Ferrous, Non-Ferrous), Application (Additive Manufacturing, Pressing & Sintering, Others), Source, Production Method, End User (Automotive, Aerospace & Defense, Chemical, Others) & Geography—Forecasts to 2031.”

According to the report, the metal powder market is projected to reach $10.2 billion by 2031, growing at a CAGR of 6.2% from 2024 to 2031. This growth is driven by the increasing demand for additive manufacturing (AM) and a heightened focus on recycling metal waste to produce metal powder. However, health hazards associated with metal powder use are expected to restrain market growth.

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Key Market Segments:

By Metal Type:

Ferrous Metal Powder: Expected to hold over 65.0% of the market share in 2024 due to its extensive use in industries such as defense, aerospace, construction, automotive, and healthcare. The strength and durability of ferrous metals, particularly atomized iron powder, contribute to its large market share.
Non-Ferrous Metal Powder: Anticipated to record the highest CAGR during the forecast period, driven by the growing use of composite materials in additive manufacturing and the increasing popularity of titanium powders.

By Application:

Pressing & Sintering: Expected to hold the largest market share in 2024 due to its cost-effectiveness and the production of solid, strong parts. Companies are expanding production capacity, as exemplified by SAP PARTS Pvt. Ltd.’s installation of a new metal powder press in February 2024.
Additive Manufacturing: Projected to achieve the highest CAGR of 9.0%, driven by the development of new alloys, prototyping, jewelry-making, and the production of lightweight parts for various industries.

By Source:

Recycled Metal Powder: Expected to account for over 56.0% of the market share in 2024 and to record the highest CAGR. The focus on sustainability and the use of scrap metal as feedstock for new powders are key drivers.

By Production Method:

Mechanical Method: Expected to hold the largest share of over 44.0% in 2024 due to the cost-effectiveness of grinding and crushing processes. This method is also anticipated to record the highest CAGR, supported by the increasing use of recycled metal powder.

By End User:

Heavy Machinery & Tools: Anticipated to hold the largest market share of over 33.0% in 2024, driven by material flexibility, cost-effectiveness, and the use of additive manufacturing.
Aerospace & Defense: Expected to record the highest CAGR, driven by the demand for high strength-to-weight ratio parts and advancements in 3D printing for prototyping.

Geographical Insights:

Asia-Pacific: Expected to hold the largest share of over 37.0% in 2024 and to register the highest CAGR of 7.5%. The region’s growth is attributed to extensive manufacturing activities, strong industrial bases in China, South Korea, and Japan, and significant demand from the automotive sector.

Market Drivers and Challenges:

Drivers: Increasing use of additive manufacturing, focus on metal recycling, and demand for lightweight parts.
Challenges: Health hazards of metal powders and maintaining quality and consistency.

The metal powder market is poised for substantial growth, with advancements in technology and a push towards sustainability playing crucial roles in shaping its future.

Key Players:

Some of the key players operating in the metal powder market are Höganäs AB (Sweden), GKN Powder Metallurgy (U.K.), Advanced Technology & Materials Co., Ltd. (China), Sandvik AB (Sweden), AMETEK Inc. (U.S.), Tekna Holding ASA (Canada), BASF SE (Germany), Aubert & Duval (France), Alcoa Corporation (U.S.), ATI Inc. (U.S.), Carpenter Technology Corporation (U.S.), RusAL (Russia), Rio Tinto (U.K.), Kymera International (U.S.), and Praxair S.T. Technology, Inc. (U.S.)

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Key questions answered in the report-

Which are the high-growth market segments based on metal type, application, source, production, and end user?
What was the historical market for metal powder?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, and opportunities in the metal powder market?
Who are the major players, and what shares do they hold in the metal powder market?
What is the competitive landscape like in the metal powder market?
What are the recent developments in the metal powder market?
What are the different strategies adopted by the major players in the metal powder market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the metal powder market, and how do they compete with the other players?