The Metal Powder Market is an increasingly important sector in the materials industry. Metal powders are used to produce parts, components, and products that have a variety of uses in automotive, aerospace, electronics, and medical industries. Metal powders can be used to create intricate shapes or to build up irregularly shaped objects with the help of 3D printing technology. They are also used widely in powder metallurgy processes such as sintering, forging and hot pressing which used for manufacturing complex components.
Metal Powder Market to Reach US$ 19.3 Bn by the end of 2032. at a CAGR of 7.4%.
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Metal powder demand is driven by increasing use of metal powder in 3D printing techniques for producing complex parts & components for aerospace & automotive sectors. Growing application in consumer electronics and medical industries along with high tech applications like 3D printing will further drive market growth over the forecast period.
The Metal Powder Market can be segmented into four types: Copper Powder, Iron Powder, Aluminum Powder and Other Metal Powders. Iron powder is the most widely used metal powder due to its availability and lower cost compared to other metals; it’s expected to remain dominant throughout the forecast period due to growing demand from automotive & construction sectors as well as use in 3D printing technologies. Copper powder is expected to witness significant growth due rising demand from electrical & electronic industry due its superior properties such as higher electrical conductivity, thermal resistance etc.. Aluminum powder is widely used in consumer electronic goods production; increasing demand from automobile sector will drive aluminum powder market growth over forecast period.
Geographically Metal Powder Market can be segmented into North America, Europe, Asia-Pacific (APAC) & Rest Of World (RoW). North America holds major share of global Metal Powder market revenue due increasing usage across various industrial sectors such as automotive & consumer electronics . Europe holds second highest share on account of high industrialization rate coupled with growing investments for development of novel technologies like 3D printing . Asia Pacific region is expected to be fastest growing region on account its huge population coupled with increasing disposable income resulting into higher spending power on consumer goods which require metal powders for their production .
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Major players operating in Metal Powder Market include Praxair Technology Inc., Höganäs AB , AMETEK Inc., Hitachi Chemical Co., Ltd., Daido Steel Co., Ube Industries Ltd., GKN plc., Wieland Group, Tosoh Corporation , Plansee Group , Erasteel SAS , Rio Tinto Plc. , Sandvik AB among other regional players playing crucial role depending upon their geographical presence/market penetration level/production capacity etc.. Major players focus on strategies like mergers & acquisitions / product launches / capacity expansion etc.
For instance: In March 2018: Höganäs AB acquired ProMethCo LLC which was leading producer of metal injection moulding powders and related services etc..
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