The Business Research Company's Metal Powder Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 13, 2024 /EINPresswire.com/ -- The metal powder market has experienced robust growth in recent years, expanding from $7.11 billion in 2023 to $7.68 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to medical device manufacturing, consumer electronics, automotive sector demand, cost-effective production, increased customization needs.

Strong Future Growth Anticipated
The metal powder market is projected to continue its strong growth, reaching $10.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to rapid prototyping applications, expansion of wearable devices, medical microfluidics, automotive interior components, biodegradable materials.

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Growth Driver Of The Metal Powder Market
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, operates on electric motors, and charges its batteries with electricity rather than utilizing fossil fuels such as 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.

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Major Players And Market Trends
Key players in the metal powder market include Allegheny Technologies Incorporated, BASF SE, Carpenter Technology Corporation, GKN PLC, Hoganas AB, Polema Industries Limited.
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.

Segments:
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

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the metal powders market in 2023. The regions covered in the metal powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Metal Powder Market Definition
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.

Metal Powder Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Metal Powder Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on metal powder market size, metal powder market drivers and trends, metal powder market major players, metal powder competitors' revenues, metal powder market positioning, and metal powder market growth across geographies. The metal powder market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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