Aug 02, 2023
Metal Powder Global Market Report 2023
Major players in the metal powder market are Allegheny Technologies Incorporated, BASF SE, Carpenter Technology Corporation, GKN PLC, Hoganas AB, POLEMA, RIO Tinto, Sandvik AB, Showa Denko Materials
Major players in the metal powder market are Allegheny Technologies Incorporated, BASF SE, Carpenter Technology Corporation, GKN PLC, Hoganas AB, POLEMA, RIO Tinto, Sandvik AB, Showa Denko Materials Co.
New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Metal Powder Global Market Report 2023" - https://www.reportlinker.com/p06479879/?utm_source=GNW Ltd., AMETEK.Inc., Royal Metal Powders, American Axle & Manufacturing Inc., American Chemet Corporation, Molyworks Materials Corporation, and Sagwell.The global metal powder market is expected to grow from $6.55 billion in 2022 to $7.11 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The metal powder market is expected to reach $9.38 billion in 2027 at a CAGR of 7.1%.The metal powder consists of sales of lead powder, tin powder, bismuth powder, antimony powder, and cadmium powder.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Metal powders are finely divided or powdered metals that are used in the manufacture of sintered parts, thermal spraying, plastic filling, and other specialized applications. It is utilized in powder metallurgy, which fabricates metal parts and components by heating compressed powdered metals to just below melting temperatures.Asia-Pacific was the largest region in the metal powders market in 2022. The regions covered in metal powder report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of metal powders are ferrous, non-ferrous, and others.Ferrous refers to metals that contain iron, such as steel and cast-iron powders, used in applications that require magnetic properties, such as in the production of electromagnetic cores and components.They process involve in production are atomization, reduction of compounds, electrolysis, and others to be used in applications of additive manufacturing, powder metallurgy, metal injection molding, and others. These are applied in industries, including transportation, electrical and electronics, medical, chemical, and metallurgical, defense, construction, and others.Increasing electric vehicle demand is expected to propel the growth of the metal powder market going forward.Electric vehicles are vehicles that consist of a motor that is powered by electricity stored in batteries.It operates on electric motors and charges its batteries with electricity rather than utilizing fossil fuels like gasoline or diesel.Metal powder in the electric vehicle is used to create lighter components over traditionally forged alternatives such as battery production, motor production, and 3D printing to create lightweight, high-strength parts.For instance, according to the Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the increased demand for electric vehicles is driving the growth of metal powder.Advancements in 3D printing technologies are a key trend gaining popularity in the metal powder market.Major market players are concentrating their efforts on creating innovative 3D printing technologies to create lightweight, high-strength parts based on metal powders that can improve the performance and efficiency of vehicles.For instance, in April 2023, Eplus3D Tech GmbH, a Germany-based company specializing in developing and manufacturing advanced 3D printing technologies and systems for industrial applications, launched the EP-M400, a new quad-laser metal powder bed fusion 3D printer designed to increase productivity and efficiency in the additive manufacturing industry by enabling high-speed and high-precision printing of metal parts using metal powders as the raw material. The EP-M400 3D printer offers an open-system format capable of utilizing various metal powders such as nickel-based alloys, tool steels, die steels, aluminum alloys, titanium alloys, and copper alloys.In June 2022, Elkem, a Norway-based provider of advanced silicon-based materials, acquired KeyVest Belgium S.A. for an undisclosed amount. With this acquisition, Elkem aims to offer their current customers more specialized products, improve its service level, and expand its processing capabilities in new markets by increasing their business. KeyVest Belgium S.A. is a Belgium-based manufacturer of silicon products specializing in advanced metal and aluminum powder, boron, cenosphere, and silicon carbide items.The countries covered in the metal powder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.The metal powder market research report is one of a series of new reports that provides metal powder market statistics, including metal powder industry global market size, regional shares, competitors with a metal powder market share, detailed metal powder market segments, market trends and opportunities, and any further data you may need to thrive in the metal powder industry. This metal powder market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06479879/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________