Steel Powder Market Analysis

Type (Stainless Steel Powder, Alloy Steel Powder, Carbon Steel Powder)

The stainless-steel powder segment in the steel powder market will grow the most by the forecast period and will hold almost 35% because of its extensive use in different sectors as it’s a non-corrosive product. Stainless steel powder is a low-carbon steel, which comprises a nominal of 10.5% chromium. It’s the chromium that reacts with oxygen to form a persistent oxide bond on the surface to hinder rust. The more chromium, the stronger to oxidation. Stainless steel also comprises some nickel, which reduces corrosion opposition, but this can be balanced with the accumulation of molybdenum. This bond is a film and if impaired, will self-heal. This is crucial for applications in healthcare, as impairment in the type of fissures shows a breeding ground for bioload bacteria. Stainless steels are also simple to wash and impenetrable, which assists in managing a hygienic ecology. Chemically inactive, stainless steel can also be securely germ-free without struggling corrosion or deterioration. The inactivation layer on stainless steel is one of the biggest factors why it is so famous in all sectors.

Application (Powder Metallurgy, MIM)

The powder metallurgy segment in the steel powder market will have superior growth during the forecast period and will hold around 78% of revenue share owing to its increasing popularity and use in the industries of the world. For instance, in the automotive sector, approximately 70% of the structural parts made by powder metallurgy (PM) have been utilized by the automotive industry, and although the reduction in depletion is because of the current international economic crisis. Powder metallurgy (PM) is specifically utilized due to its comparatively close capacity and cost-accomplishment ratio. The automotive industry is acknowledged as a major market for the powder metallurgy industry, as it requires products having supreme mechanical or part of the use on an international level. PM technology is experiencing significant transformation in manufacturing and components research as automobile technologies shift beyond classic gasoline-motorized vehicles to fresh energy vehicles. Transformations in automobile technologies have developed both impediments and scopes for PM.

Our in-depth analysis of the global steel powder market includes the following segments: