The Metal Powder Market is poised for significant growth, with projections indicating it will reach $10.2 billion by 2031, according to the latest research from Meticulous Research®. This market is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031. The growth is driven by the increasing demand for additive manufacturing (AM) and a heightened focus on recycling metal waste into metal powder. However, health concerns associated with metal powder usage present a challenge to market expansion.
The market's growth potential is further bolstered by the rising demand for lightweight components in various industries and advancements in powder metallurgy. Yet, challenges related to maintaining the quality and consistency of metal powders could impede market progress.

The metal powder market is divided into ferrous and non-ferrous categories. In 2024, ferrous metal powders are expected to dominate the market, capturing over 65% of the total market share. This dominance is attributed to the extensive use of ferrous metals in industries such as defense, aerospace, construction, automotive, and healthcare. The superior strength and durability of ferrous metals, coupled with the growing preference for atomized iron powder, are key factors driving this segment's growth.

On the other hand, the non-ferrous metal powder segment is projected to experience the fastest growth during the forecast period. The growth is driven by the increasing use of composite materials in additive manufacturing, the rising popularity of titanium powders for aerospace and automotive applications, and ongoing innovations in alloy development.

The market is also segmented by application into additive manufacturing, metal-injection molding, pressing & sintering, and other technologies. In 2024, the pressing & sintering segment is expected to lead the market, driven by its cost-effectiveness and the increasing focus of manufacturers on expanding production capacities. For instance, SAP PARTS Pvt. Ltd. in India recently installed a new metal powder press to enhance production capacity and improve the compaction process.

The additive manufacturing segment, however, is expected to register the highest CAGR of 9.0% during the forecast period. This rapid growth is driven by the development of new alloys, increased use of AM for prototyping, jewelry-making, and the production of lightweight components across industries. Companies are also expanding their metal powder production for additive manufacturing, as demonstrated by Pometon S.p.A.'s establishment of a new division in 2021.

In terms of the source of metal powder, the market is segmented into pure/ore metal powder and recycled metal powder. By 2024, recycled metal powders are expected to account for over 56% of the market share, driven by increasing sustainability efforts and the development of metal powder recycling technologies.
This segment is also expected to grow at the fastest rate, fueled by the use of scrap and discarded materials as feedstock for new powders in additive manufacturing and the expansion of manufacturing activities.

Regarding production methods, the market is divided into chemical, mechanical, and physical methods. The mechanical segment is expected to lead in 2024, accounting for over 44% of the market share, due to its cost-effectiveness. This segment is also anticipated to experience the highest growth rate, driven by the increased use of recycled metal powders and the ability of mechanical processes to produce ultrafine powders of high melting point metals.

Finally, the metal powder market is segmented by end-user industries, including automotive, aerospace & defense, heavy machinery & tools, medical & dental devices, oil & gas, chemical, construction, energy & power, transportation, and others. The heavy machinery & tools segment is expected to dominate in 2024, with over 33% of the total market share. This dominance is attributed to the increased use of metal powders in manufacturing heavy machinery and tools due to their material flexibility, versatility, and cost-effectiveness. The aerospace & defense segment is expected to grow at the fastest rate, driven by the use of metal powders in producing high-strength aerospace parts and the increasing use of 3D printing for prototyping.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to lead the market in 2024, with over 37% of the total share. This dominance is due to the strong manufacturing base in China, South Korea, and Japan, along with rapid growth in Southeast Asia's manufacturing sector. Asia-Pacific is also expected to experience the highest CAGR of 7.5% during the forecast period, driven by industrialization, urbanization, and growing demand from the automotive sector.

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.)

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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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