Metal Powder Market Growth, Competitive Landscape, Key Players, Opportunities, Competition, Industry Trends & Forecast 2023

Pune, India -- (SBWire) -- 09/17/2018 --Synopsis of Metal powder Market

Metal Powders are extensively used for the process of thermal spraying, filling plastics, and fabricating sintered parts among others. Some of the most common powdered metal types include iron, aluminum, copper, and lead among others. The demand from the construction and automobile industry is a significant factor driving the growth of the Global Metal Powder Market. Some of the major applications of Metal Powder include building & construction, automobile, and industrial.

The growing industrialization and urbanization in the developing regions across the globe is expected to boost the market during the forecast period. The global metal powder market is likely to expand at a CAGR of over 3% during the forecast period 2017-2023. Moreover, the demand for metal power is expected to grow during the given period to reduce environmental impacts of the metal industry.

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Among the various product type in the Metal Powder Market, the ferrous metal powder is the leading segment of the market and is anticipated to continue dominating over the forecast period. The growing demand from the end use industries mainly construction and transportation are contributing significantly to the growth of the segment. Among the various production methods, chemical method is expected to register the highest growth during the review period.

Segmental Analysis

The Global Metal Powder Market is segmented into type, production method, compaction technique, and end-user industry. On the basis of the type the market is segmented into non-ferrous, ferrous, and others. On the basis of the production method, the Global Metal Powder Market is segmented into the physical method, chemical method, and mechanical method. On the basis of the compaction technique, the market is bifurcated into cold compaction technique and hot compaction technique. On the basis of the end-user industry, the market is further segmented into transportation, electrical and electronics, building and construction, and others.

Regional Analysis

The Metal Powder Market is segmented across five regions: Europe, Asia Pacific, North America Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing market with an expanding CAGR during the forecast period. The rapid growth of industries and urbanization is fuelling the growth of metal powder in the developing countries of Asia Pacific. Moreover, the shift of automobile and electrical and electronic industry into the region owing to the tax benefits and availability of cheap labor is further boosting the market growth. Furthermore, the growing population mainly in India and China has augmented the construction and automobile sector, which is further contributing to the market growth. China, India, and Japan are the largest consumers of the Metal Powder in this region. North America is another dominant region in the market for Metal Powder owing to developed end-user industries such as transportation, building & construction and electronics among others. Moreover, the presence of the largest construction machinery manufacturers in the region is further expected to boost the market. According to the Statistica, the value of new construction in the U.S. was 1.16 trillion and is expected to grow in the coming years on account of ongoing investments, especially in New York City.

The European market is a dominant mainly driven by the developed electrical & electronics, construction, and automobile sector. Moreover, the growing metal fabrication sector along with the increasing infrastructural development is the major factor attributing to the growth of the market. Additionally, growing R&D activities in the automobile sector have further augmented the use of metal powder owing to the increasing demand for lightweight vehicles in the region.

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