As outlined in the latest findings from Meticulous Research®, the Metal Powder Market is anticipated to achieve a valuation of $10.2 billion by 2031, exhibiting a Compound Annual Growth Rate (CAGR) of 6.2% from 2024 to 2031. This expansion is primarily fueled by the escalating demand for additive manufacturing (AM) and the heightened emphasis on repurposing metal waste for metal powder production. Nevertheless, concerns regarding the health risks associated with metal powder utilization pose a notable restraint to market growth.

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Growth Drivers:
Furthermore, the increasing need for lightweight components across various industries and advancements in powder metallurgy are anticipated to present lucrative growth prospects for stakeholders in the market. However, ensuring the quality and consistency of metal powders remains a significant challenge affecting market advancement.

Key analysis:
The metal powder market is broadly categorized into ferrous and non-ferrous metal powder segments based on metal type. In 2024, the ferrous metal powder segment is poised to dominate the market, accounting for over 65.0% of the share. This dominance is attributed to factors such as extensive utilization in industries like defense, aerospace, construction, automotive, and healthcare, along with inherent strengths and durability. Conversely, the non-ferrous metal powder segment is projected to witness the highest CAGR during the forecast period, driven by the burgeoning use of composite materials in additive manufacturing and the rising popularity of titanium powders across diverse applications.

Regarding applications, the metal powder market encompasses additive manufacturing, metal-injection molding, pressing & sintering, and other technologies. The pressing & sintering segment is anticipated to lead the market in 2024, supported by its widespread adoption for producing robust parts with desired geometries from raw metal powder. Conversely, additive manufacturing is poised to register the highest CAGR, driven by its increasing application diversity, particularly in prototyping, jewelry-making, and the production of lightweight parts across aerospace, automotive, and defense sectors.
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The market segmentation based on source includes pure/ore metal powder and recycled metal powder, with the latter expected to hold a significant share in 2024 owing to heightened focus on sustainability and circular economy initiatives. Additionally, the recycled metal powder segment is forecasted to exhibit the highest CAGR, propelled by the utilization of scrap and discarded parts for additive manufacturing and increased manufacturing activities.

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In terms of production methods, the market is segmented into chemical, mechanical, and physical methods. Mechanical methods are anticipated to dominate the market in 2024 due to their cost-effectiveness, particularly through grinding and crushing processes. Moreover, this segment is expected to witness the highest CAGR, driven by the growing utilization of recycled metal powder and the capability of mechanical processes to produce ultrafine powders of high melting point metals.

End-user segmentation of the metal powder market includes automotive, aerospace & defense, heavy machinery & tools, medical & dental devices, oil & gas, chemical, construction, energy & power, transportation, and other sectors. The heavy machinery & tools segment is projected to hold the largest share in 2024, attributed to increased adoption of metal powder for manufacturing, application versatility, and cost-effectiveness. Conversely, the aerospace & defense segment is poised for the highest CAGR, fueled by the demand for high-strength-to-weight ratio parts and the expansion of 3D printing applications.

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Geographically, Asia-Pacific is expected to command the largest market share in 2024, driven by the presence of numerous manufacturing hubs and robust industrial sectors, particularly in China, South Korea, and Japan. Additionally, Asia-Pacific is forecasted to register the highest CAGR, propelled by factors such as industrialization, urbanization, and the automotive sector's growth across the region.

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?

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