Metal Powder Market Set to Surge Significantly During 2024-2030: Grand View Research Inc.

 Metal Powder Market Growth & Trends

The global metal powder market size is anticipated to reach USD 10.18 billion by 2030 and is projected to grow at a CAGR of 7.3% from 2024 to 2030 according to a new report by Grand View Research, Inc. Growth of the aerospace & defense market is anticipated to propel the demand for products across the forecast period.

A wide range of metals, including magnesium, aluminum, titanium, and nickel, are used in the aerospace industry. These materials are ideal for lighter structural elements due to their high strength to weight ratio. Thus, it is widely used in the production of aircraft and spacecraft components, like engines, turbines, heat exchangers, rocket snores, or structural elements.

Based on technology, the press & sinter held the largest revenue share of the market in 2023. Due to cost-effective nature of this technology, it is widely used in the market. Also, it is capable of manufacturing relatively complex designs/components. Rising demand for automotive parts is expected to drive growth of this segment.

Based on material, ferrous-based is anticipated to register a growth rate of 6.4%, in terms of revenue, over the forecast period. Ferrous-based products have become a major component of tools, cars, electrical appliances, firearms, and buildings due to their reduced cost and strong tensile properties. It is, therefore, expected that the segment will continue to have a dominant position over the forecast period.

Based on region, North America is anticipated to register a growth rate of 6.5% in terms of revenue over the forecast period. The penetration of AM and MIM in the sectors of aerospace & defense, medical research, and automotive can be attributed to a growing demand for metal powders in North America.

The market witnesses intense competition owing to the growing demand for metal powder. Key players are using mergers and acquisitions activity across the globe. For instance, in November 2023, 6K Additive acquired Global Metal Powder company. This acquisition is expected to help the company in expansion of refractory powder production and sustainable product development.

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Metal Powder Market Report Highlights

• Based on region, Asia pacific is expected to register growth rate of 7.2% across the forecast period. The promotion of private investments by various governments is projected to boost the manufacturing sector in the region, which, in turn, is expected to propel the market growth.
• Based on technology, additive manufacturing is expected to register growth rate of 15.5% in terms of revenue across forecast period. The growth of the technology is attributed to increasing demand for AM from aerospace industry to manufacture complex parts efficiently.
• Based on application, healthcare segment is expected to register fastest growth. Countries are investing in the medical industry by placing emphasis on modernization of hospitals and advancement of technology, in order to make healthcare more affordable.
• Based on the application, automotive industry held the largest revenue share in 2023. Automotive is one of the major consumers of metal powder, wherein various components are manufactured using, AM, press & sinter, HIP, and MIM processes.

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Metal Powder Market Segmentation

Grand View Research has segmented the Metal Powder Market on the basis of material, technology, application, and region.

Metal Powder Material Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2030)

• Ferrous
• Non-ferrous

Metal Powder Technology Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2030)

• Press & Sinter
• Metal Injection Molding
• Additive Manufacturing
• Others

Metal Powder Application Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2030)

• Automotive
• Aerospace & defense
• Healthcare
• Other applications

Metal Powder Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2030)

• North America
  • US.
• Europe
  • Germany
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
• Central & South America
  • Brazil
• Middle East & Africa

List of key Players in the Metal Powder Market

• Advanced Technology & Materials Co., Ltd
• CRS Holdings Inc.
• GKN PLC
• Hoganas AB
• MolyWorks Materials Corporation
• POLEMA
• Rio Tinto Metal Powders
• Rusal
• Sandvik AB

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.