Meticulous Research® recently published a detailed report on the global metal powder market, titled “Metal Powder Market by Metal Type (Ferrous, Non-Ferrous), Application (Additive Manufacturing, Pressing & Sintering, Others), Source, Production Method, End User (Automotive, Aerospace & Defense, Chemical, Others) & Geography—Forecasts to 2031.” The report projects that the metal powder market will reach $10.2 billion by 2031, expanding at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031. The rising demand for additive manufacturing and the growing focus on recycling metal waste to produce metal powders are two primary drivers of this market’s expansion. However, health risks related to the use of metal powders pose a notable challenge to market growth.

Opportunities for further growth stem from the increasing need for lightweight components across industries and advancements in powder metallurgy technologies. Nonetheless, maintaining consistency and quality in metal powder production remains a critical challenge for stakeholders in this market.

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The metal powder market is categorized by metal type, with ferrous and non-ferrous powders representing the two primary segments.

Ferrous metal powders are expected to account for over 65.0% of the market share by 2024, driven by their widespread use in industries such as automotive, aerospace, defense, and construction. The durability and strength of ferrous metals, coupled with the growing demand for atomized iron powders in industrial applications, will support the dominance of this segment.

On the other hand, non-ferrous metal powders are forecasted to experience the highest growth rate during the forecast period, thanks to their increasing use in additive manufacturing and their role in the development of new alloys for aerospace, automotive, and other advanced applications. The growing popularity of titanium powder in particular, which is used in the manufacturing of lightweight yet strong components, is a key factor contributing to the growth of the non-ferrous segment.

In terms of application, the market is segmented into additive manufacturing, pressing & sintering, metal injection molding, and other technologies. The pressing & sintering segment is expected to lead the market in 2024, due to its cost-effectiveness and ability to produce high-quality parts with precise geometries. The segment’s growth is further supported by manufacturers’ efforts to increase production capacity. For example, in early 2024, SAP PARTS Pvt. Ltd., based in India, expanded its sintering facility by installing a new metal powder press.

However, the additive manufacturing segment is projected to grow at the fastest rate during the forecast period, with a CAGR of 9.0%. This growth is driven by the increasing use of metal powders in prototyping, jewelry manufacturing, and the production of lightweight components for industries such as aerospace, automotive, and defense. Additionally, companies are ramping up their production of metal powders for additive manufacturing, as seen with Pometon S.p.A.’s launch of its PometonPlus division, which focuses on the development of specialized metal powders for AM applications.

The metal powder market is further segmented by source into pure/ore metal powder and recycled metal powder. In 2024, recycled metal powder is expected to hold a larger share of the market, accounting for more than 56.0%. This dominance is attributed to the growing emphasis on sustainability and the development of efficient metal recycling systems. The recycled metal powder segment is also expected to experience the highest growth during the forecast period, as companies increasingly use scrap and discarded parts as feedstock to produce new powders, particularly for additive manufacturing.

Regarding production methods, the market is divided into chemical, mechanical, and physical processes. In 2024, the mechanical process segment is projected to account for the largest share of the market, with over 44.0%. Mechanical processes, such as grinding and crushing, are cost-effective and widely used to produce metal powders. Additionally, the mechanical process segment is expected to grow at the highest rate during the forecast period, driven by the rising use of recycled metal powders and the ability of these processes to create ultrafine powders with high melting points.

The metal powder market serves various end-use industries, including automotive, aerospace & defense, heavy machinery, medical devices, oil & gas, chemical, and others. The heavy machinery and tools segment is expected to lead the market in 2024, accounting for more than 33.0% of the market share. The widespread use of metal powders in manufacturing heavy machinery and tools is driven by their flexibility, versatility, and cost-effectiveness. Additive manufacturing is increasingly being used to produce complex parts for heavy machinery, further contributing to the segment’s growth.

The aerospace & defense sector, however, is anticipated to exhibit the highest growth during the forecast period. The growing use of metal powders to manufacture lightweight, high-strength components for aircraft, spacecraft, and defense equipment is a major driver of this segment’s growth. Furthermore, advancements in alloy development and the use of 3D printing for the rapid prototyping of aerospace and defense components are accelerating the adoption of metal powders in this sector.

Geographically, the metal powder market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to dominate the market, with a share exceeding 37.0%. The region’s strong manufacturing base, particularly in China, South Korea, and Japan, is a key factor behind its market leadership. Additionally, the presence of large industries such as automotive, electronics, and semiconductors contributes to the region’s growth.

Asia-Pacific is also forecasted to achieve the highest CAGR of 7.5% during the forecast period. Rapid industrialization, urbanization, and increased adoption of Industry 4.0 technologies are driving growth in this region, with a particular focus on the automotive sector.

In summary, the global metal powder market is poised for substantial growth, driven by increasing demand across diverse industries. However, the industry must address challenges such as health risks and maintaining quality standards to fully capitalize on the opportunities ahead.

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Key Players:

Some of the key players operating in the metal powder market are Höganäs AB (Sweden), GKN Powder Metallurgy (U.K.), Advanced Technology & Materials Co., Ltd. (China), Sandvik AB (Sweden), AMETEK Inc. (U.S.), Tekna Holding ASA (Canada), BASF SE (Germany), Aubert & Duval (France), Alcoa Corporation (U.S.), ATI Inc. (U.S.), Carpenter Technology Corporation (U.S.), RusAL (Russia), Rio Tinto (U.K.), Kymera International (U.S.), and Praxair S.T. Technology, Inc. (U.S.)

Key questions answered in the report-

Which are the high-growth market segments based on metal type, application, source, production, and end user?
What was the historical market for metal powder?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, and opportunities in the metal powder market?
Who are the major players, and what shares do they hold in the metal powder market?
What is the competitive landscape like in the metal powder market?
What are the recent developments in the metal powder market?
What are the different strategies adopted by the major players in the metal powder market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the metal powder market, and how do they compete with the other players?

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