Metal Powder Market size was over USD 6.87 billion in 2024 and is poised to exceed USD 16.16 billion by 2037, growing at over 6.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of metal powder is evaluated at USD 7.24 billion.
The spur in the market growth can be attributed to the increasing demand in the automobile industry. Metal powders are heavily utilized in the automotive sector in various applications such as the manufacture of engine components such as pistons, connecting rods, and cylinder heads, and the manufacture of transmission gears, brake components, suspension systems, and structural parts. Based on data released by the IEA 50, an estimated 16 million passenger cars were sold in countries with advanced economies alone in 2022.
Moreover, factors like improved c, complex geometries, reduced waste and scrap, superior surface finish, and shortened production cycle times in various manufacturing sectors are set to further propel the market growth in the forecast period.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.8% |
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Base Year Market Size (2024) |
USD 6.87 billion |
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Forecast Year Market Size (2037) |
USD 16.16 billion |
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Regional Scope |
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Metal Type (Ferrous and Non-Ferrous)
Ferrous segment is poised to account for more than 62% metal powder market share by the end of 2037. The segment growth can be attributed to the various mechanical properties provided by ferrous metal powders such as durability, hardness, tensile strength, lower costs, magnetic function, and broad flexibility. Due to these properties, ferrous metal powder is utilized in various industries auto, power tools, construction, piping, shipping containers, and industrial piping. with the automotive sector holding the largest share, using over 70% of the ferrous products produced annually by the market.
Production Method (Mechanical Method and Chemical Method)
By the end of 2037, mechanical method segment is estimated to hold over 64% metal powder market share. The segment growth can be accredited to the versatility and efficiency of the process. The primary mechanical and physical powder production techniques that are employed in the industry for mass production rate include milling, atomization, and physical vapor deposition. In addition, the ability to produce complex shapes and intricate designs with high dimensional accuracy, as well as the fact that near-net shape production eliminates the need for extensive machining and material waste, make it cost-effective for mass production through this process is poised to further propel the mechanical process segment.
End-use (Automotive, Manufacturing, Medical, Electrical & Electronics, and Others)
Throughout the projected period, the automotive industry is predicted to maintain its dominant market share. In the automotive industry, powdered iron is used in operations like injection molding, sintering, hot isostatic pressing, and particle metallurgy. The important factors influencing the market's growth are the increasing production of vehicles, the increasing usage of technology in vehicles, and the shift towards lighter vehicles. Additionally, producers are switching from producing conventional products to customized goods, driving market expansion in the segment. According to studies, in 2021, the industry used more than 200 kilo tons of metal alloy powder, and it is expected to grow in the years to come.
Our in-depth analysis of the market includes the following segments:
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Metal Type |
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Production Method |
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End-use |
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APAC Market Statistics
Asia Pacific industry is estimated to account for largest revenue share of 44% by 2037. One of the key reasons driving the Asia Pacific market is the rising demand from a variety of end-use sectors, including automotive, aerospace, healthcare, and electronics. These sectors require metal powders for applications such as additive manufacturing, surface coating, and sintering. Furthermore, the Asia Pacific region houses some of the car makers globally. Due, to the transition to vehicles and lighter materials there is a need for metal powders like aluminum, titanium, and stainless steel in the car industry. These metal powders play a role in making parts, engine components, and structural elements contributing to market expansion, in the region. For instance, in 2022, it was estimated that about 37.5 million passenger cars were sold within the Asia-Pacific region
Country 1 – China boasts the largest automotive market in the world. In 2022, China manufactured around 23.84 million passenger cars and 3.19 million commercial vehicles. China placed #1 among countries producing the most passenger cars, with approximately 24 million produced. This high frequency of production of vehicles in the country is one of the key reasons for making China one of the top consumers of metal powder in the world. As a result, the metal powder market is expected to gain substantial growth in the coming years.
North America Market Analysis
The North America region will also encounter huge growth for the metal powder market during the forecast period and will hold the second position. The rising aerospace industry in the region plays a pivotal role, in driving growth for the market in North America. Metal powders are vital for crafting aircraft components because of their properties and strong strength-to-weight ratio. With advancements in aircraft design and materials the need for metal powders, in aerospace applications is projected to rise. Additionally, several aircraft manufacturers, including Textron in the United States, Bombardier in Canada, and Boeing in the United States, will expand market share in North America. Studies suggest that the USA had an estimated 204,405 aircraft in 2022.
United States of America – The huge aerospace and defense industry in the country has created a high volume of demand for metal powder. The United States market contributed around 89 billion US dollars in aerospace exports in 2021, making it the largest country in terms of sales value. The country is also home to some of the world's largest aircraft manufacturers, including Boeing and Raytheon.
The key players that are influencing the metal powder market are:
Author Credits: Rajrani Baghel
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