The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Metal Powder Global Market Report 2024 offers crucial insights into the metal powder market help businesses analyse and build stronger strategies.

The metal powder market has experienced robust growth in recent years and is set for continued expansion. This blog explores the market size, future projections, key trends, and significant factors driving growth in the metal powder industry.

Recent Market Growth

• Current Market Size: The metal powder market grew from $7.11 billion in 2023 to $7.68 billion in 2024, with a compound annual growth rate (CAGR) of 8.0%.
• Historical Growth Drivers: Several factors contributed to this growth, including:
  • Medical device manufacturing
  • Consumer electronics
  • Automotive sector demand
  • Cost-effective production methods
  • Increased customization needs

Future Market Projections

• Projected Market Size: The market is expected to grow to $10.09 billion by 2028, with a CAGR of 7.1%.
• Forecast Growth Drivers: Anticipated growth will be driven by:
  • Rapid prototyping applications
  • Expansion of wearable devices
  • Advances in medical microfluidics
  • Development of automotive interior components
  • Use of biodegradable materials

Read The Full Metal Powder Market Report Here:
https://www.thebusinessresearchcompany.com/report/metal-powder-global-market-report

Key Trends Shaping the Future

• Advancements in Materials: New materials are enhancing the properties and applications of metal powders.
• Customization and Prototyping: Increased demand for customized products and rapid prototyping is driving innovation.
• Sustainability and Recycling: Focus on sustainability and material recycling is becoming more prominent.
• Mold Design and Technology: Advancements in mold design are improving manufacturing efficiency.
• Smart Packaging Solutions: Development of smart packaging is opening new avenues for metal powders.

Electric Vehicle Demand Boosts Growth

• Market Influence: The surge in electric vehicle (EV) demand significantly propels the metal powder market.
• Role of Metal Powders: In EVs, metal powders are used to create lighter components for battery production, motor production, and 3D printing, enhancing performance and efficiency.
• Industry Example: According to the Global EV Outlook 2022 report, EV sales doubled in 2021 to 6.6 million units. This surge underscores the growing demand for metal powders in the EV industry.

Leading Industry Players

Major companies in the metal powder market include:

• Allegheny Technologies Incorporated
• BASF SE
• Carpenter Technology Corporation
• GKN PLC
• Hoganas AB
• Polema Industries Limited
• Rio Tinto Limited
• Sandvik AB
• Showa Denko Materials Co. Ltd.
• AMETEK Inc.

Technological Advancements in 3D Printing

• Trend Highlight: Advancements in 3D printing technologies are a significant trend in the metal powder market.
• Industry Example: In April 2023, Eplus3D Tech GmbH launched the EP-M400, a quad-laser metal powder bed fusion 3D printer. This printer increases productivity and efficiency by enabling high-speed, high-precision printing of metal parts using various metal powders.

Strategic Acquisitions

• Elkem’s Expansion: In June 2022, Elkem acquired KeyVest Belgium S.A. to enhance its product offerings and expand into new markets. This acquisition aims to provide specialized products and improve service levels for Elkem’s customers.

Market Segmentation

The metal powder market is segmented as follows:

1. By Type:
   • Ferrous
   • Non-Ferrous
   • Other Types
2. By Process:
   • Atomization
   • Reduction of Compounds
   • Electrolysis
   • Other Processes
3. By Application:
   • Additive Manufacturing
   • Powder Metallurgy
   • Metal Injection Molding
   • Other Applications
4. By End-Use Industry:
   • Transportation
   • Electrical and Electronics
   • Medical
   • Chemical and Metallurgical
   • Defense
   • Construction
   • Other End-User Industries

Regional Insights

• Leading Region: Asia-Pacific was the largest region in the metal powder market in 2023, indicating significant demand and growth potential in this area.

In conclusion, the metal powder market is on a strong growth trajectory, driven by technological advancements, increasing demand from various industries, and strategic initiatives by key players. The future looks promising as the market continues to evolve with new applications and innovations.

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https://www.thebusinessresearchcompany.com/sample_request?id=10417&type=smp

The Metal Powder Global Market Report 2024  provides a comprehensive outlook of the metal powder market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The metal powder market forecast offers a thorough analysis on metal powder market size, metal powder market share, prominent players and their strategies.

The Table Of Content For The Metal Powder Market Include:
1. Metal Powder Market Executive Summary
2. Metal Powder Market Segments
3. Metal Powder Market Size And Metal Powder Market Growth Rate
4. Key Metal Powder Market Trends
5. Major Metal Powder Market Drivers
……
25. Key Mergers And Acquisitions In The Metal Powder Market
26. Top Metal Powder Companies
27. Metal Powder Market Opportunities And Strategies
28. Metal Powder Market, Conclusions And Recommendations
29. Appendix

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