Rapid growth of the construction industry is foreseen to be one of the key growth drivers of the global Metal Powder Market size. Metal powder is extensively utilized in building and construction operations such as for installing steel rims and other interior fittings. According to a study conducted by Oxford Economics, the construction industry will experience a meteoric rise in the next two decades, surging at a rate of 85%. By 2030, the study says, the output value of this industry will reach USD 15.5 trillion, with China, India, and the US accounting for majority of the rise.
Prominent Players Covered in the Metal Powder Market Report by Fortune Business Insights™ Include:
- Kymera International
- The Metal Powder Company Limited
- Praxair Surface Technologies
- Miba Group
- Rio Tinto
- Carpenter Technology Corporation
- Advanced Metallurgical Group
- ATI (Allegheny Technologies Incorporated)
- Höganäs AB
- GKN Hoeganaes
- C. Starck
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Fortune Business Insights™, in its new report, titled “Metal Powder Market Size, Share & Industry Analysis, By Metal Type (Ferrous Metal, Non-Ferrous Metal), By Production Method (Mechanical Method, Chemical Method, Physical Method), By Compaction Technique (Hot Compaction, Cold Compaction), By End-User (Automotive, Electrical & Electronics, Medical, Manufacturing, Others) and Regional Forecast, 2019-2026”, provides valuable information on the market in the form of:
The industry is expected to flourish in the developing economies of India and China. The Oxford study estimates that the industry will grow twice as fast in India as in China owing to the skyrocketing increase in India’s urban population. This will surge the demand for powder metallurgy and emerge as one of the leading metal powder market trends during the forecast period.
- An in-depth analysis of the various segments to enable a holistic understanding of the market;
- A comprehensive evaluation of the different factors and trends that will influence the market;
- An exhaustive research into the competitive and regional dynamics shaping the market; and
- A broad overview of the overall industry outlook that will impact the market during the forecast period.
Key Industry Developments:
- January 2019: Praxair Surface Technologies partnered with Velo3D wherein Velo3D would use Praxair’s TruForm powders to formulate process parameters for Praxair’s new alloys. The agreement would also allow PST to qualify as an approved powder supplier for Velo3D’s additive manufacturing systems.
- February 2018: Sandvik Mining, a Swedish equipment and tool manufacturer, announced an investment of USD 25 million in its new metal powder plant for nickel and titanium. This move is aimed at consolidating the company’s position in the metal 3D printing domain.
Wide-ranging Applicability of Metal Powder to Favor Its Uptake
Metal powders are essentially base metals that are converted into powder form. These powders lay the foundation for powder metallurgy operations and the upcoming field of additive manufacturing. Metal powders are versatile in nature as they can be utilized across a vast spectrum of industrial processes. For instance, these powders can be used to coat metallic surfaces to prevent wear and corrosion. Moreover, they are well-suited for high-energy applications such as laser cladding and flame spraying. In the manufacturing sector, metal powders are heavily employed in making different automotive components, powder metallurgy, diamond tools, metal injection molding, among others. Lastly, these powders are becoming increasingly popular in the 3D printing industry, the metal powder market analysis shows.
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Rising Interest in Additive Manufacturing to Fuel the Market in North America
North America is likely to lead the metal powder market share during the forecast period owing to the increasing adoption of robotics and a fast-rising additive manufacturing industry in the region. In Europe, the primary factor driving the market in the region is the growing research into powder metallurgy along with increasing popularity of additive technology in various industrial applications. In terms of share, Asia-Pacific is projected to dominate on account of a rapidly developing manufacturing sector, a thriving transport sector, and a rising demand for lightweight components in the automotive industry.
Operational Diversification Measures to Energize Competition
The metal powder market players are engaging in broadening their operational scope through setting up of new plants with a view to tap new regions and industries. Furthermore, many companies are also collaborating with each other strengthen their presence in this market
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