Market Overview Metal powder can be explained as the crushed form of the consolidated metal body. The metal powder contains powder forms of iron, nickel, aluminum, and various other metals. Metal powders are of great importance because of their versatility, quality, and effectiveness. The method to convert the iron ore body into powdery form includes gas atomization, liquid atomization, centrifugal atomization, and direct reduction.
These metal powders are used to manufacture numerous components or materials through various techniques termed powder metallurgy. Powder metallurgy is used to make materials from powdered metals like tungsten carbide, porous oil-impregnated bearings, electrical contacts, diamond tools, and sintered filters, which are impossible to manufacture from melting processes and have numerous end users in the industries.
Market Dynamics The increasing demand drives the global metal powder market growth in automotive, chemical, powder metallurgy, construction, electrical&electronics, and various other industries over the forecast period.
The increasing demand for metal powder in the automotive sector is expected to drive growth in the forecast period.
The industry utilizes metal powders for manufacturing carbon brushes, brakes and clutches, engine bearing, brushings, filters, PTFE seals, and many other parts. Moreover, the increasing demand for lightweight automotive parts in the industry has lead to a boost in demand for additive manufacturing, which is more like to boost the growth of metal powder globally. Moreover, the use of metal powder considerably reduces waste and provides eco-friendly manufacturing.
According to a Ford Motor co., Report, powder materials are 15% more energy efficient than traditional machining. The significant advantage of metal powder offers a sustainable process as the metal powder can be recycled and converted into new powder. Furthermore, According to an Economic Times report, various automobile companies like Nissan have announced shifting to electric cars by 2030. It is also forecasted that moving to electric vehicles will also spike the demand for metal powders as various metals involve end-users in the electric and automotive industry.
The high cost of metal powders is likely to hinder market growth. On the contrary, usage of metal powders is costly, suffers from low ductility, some powders such as aluminum result in the risk of explosion and fire hazards. For example, metal powders are subjected to casting or forging, unlike other raw materials, which increases manufacturers' costs.
However, with the help of research and development in the sectors, all these drawbacks can be avoided.
Market Segmentation: By Type Ferrous Metals Non-Ferrous Metals Others (gold and silver) By End Users Civil Electrical Automotive Chemicals Other By Size Less than 10microns From 10-50 microns More than 50 microns By Method Direct Reduction Gas Atomization Liquid Atomization Centrifugal Atomization
Competitive Landscape The global metal powder market is highly competitive with the presence of some local as well as multinational companies. Some of the key players which are contributing to the growth of the market include Sandvik AB, GKN PLC, Praxair Surface Technologies Inc., AMG Advanced Metallurgical Group, Rio Tinto Plc, Aubert & Duval, American Axle & Manufacturing, Inc., Carpenter Powered Products, Royal Metal Powders, Australian Metal Powders Supplies Pty Ltd., CNPC Powder Group Co., Ltd., Showa Denko Materials.
The primary critical players are adopting several growth strategies such as product launches, collaborations, and effective marketing, contributing to the growth of the metal powder market globally.