Key Highlights
·
The
global metal powder market was valued at ~ US$ 6.8 Bn in 2018,
and is anticipated to expand at a CAGR of ~ 4% during the
forecast period.
·
The iron
& steel type segment accounted for a major share of the global metal powder
market in 2018.
·
The
automotive application segment held a significant share of the global metal powder
market in 2018. Around 96,804,390 vehicles (including
passenger, light commercial, and heavy commercial vehicles) were sold across
the globe in 2017.
·
Asia
Pacific is estimated to be one of the high growth regions of the global metal
powder market, owing to increase in the demand for metal powders from the
rapidly expanding automotive industry.
·
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Key Drivers of the Metal Powder Market
·
High
growth in the automotive industry is driving the metal powder market.
Components manufactured from metal powders are employed in the production of an
extensive range of automotive components. Key components manufactured by using
metal powders include transmission parts, engine parts, oil pumps, exhaust
systems, and chassis components.
·
The
manufacturing components from metal powders through powder metallurgy
offers 40% or higher cost savings than other technologies due
to low energy requirements. The process deploys up to 97% of
the total metal, while consuming 43% less energy than
conventional technologies. Powder technology can be employed to produce
high-value components such as gears, bearings, and shafts. Hence, expansion in
the automotive industry and rise in sales of automobiles are projected to drive
the demand for metal powder in the near future
·
The
demand for powder metallurgy to manufacture airframes is likely to increase in
the aerospace industry due to the rise in usage of composites, titanium, and
new aluminum and magnesium alloys. The need for more efficient engines is
anticipated to encourage producers to develop higher-strength materials that
can operate at higher temperatures.
·
The
demand for powder metallurgy-based superalloy components is high in various
applications, such as turbine discs, as these do not possess solidification
defects inherent in castings and cast and wrought alloys. This fuels the growth
of the metal powder market.
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Asia Pacific Prominent Region of
the Metal Powder Market
·
Asia
Pacific was the key region of the global metal powder market in 2018, primarily
owing to the high growth in the automotive industry in China, India, and Japan.
·
China
accounted for a prominent share of the metal powder market in Asia Pacific in
2018. The availability of low-cost labor and attractive incentive policies from
the Government of China is encouraging major automotive producers and
electrical & electronics manufacturers to strengthen their position in the
country. Therefore, the rise in automotive production is expected to propel the
demand for metal powders in China during the forecast period.
Global Metal Powder Market – Key
Developments
·
In May 2019, GKN
Powder Metallurgy opened its new powder metallurgy headquarters and Additive
Manufacturing (AM) Customer Center in North America. The 38,260 square foot
facility, located in Auburn Hills, Michigan, helped the company expand its
global 3D printing network and scope of in-house powder metallurgy
capabilities.
·
In June 2017, GKN
Hoeganaes declared that it had started the production of titanium powder for
additive manufacturing, at its additive manufacturing facility co-located with
its Powder Innovation Center in Cinnaminson, New Jersey, the U.S. This new
powder atomizing facility is a part of the joint venture with Germany-based TLS
Technik. It provides customers with a source of titanium and other specialized
powders for additive manufacturing.
·
In May 2017, Sandvik
Osprey Ltd, a global leading producer of gas atomized metal powders for
advanced applications in net shape manufacturing, stated that, it had entered
into a partnership with Desktop Metal Inc. to be a preferred supplier of a
range of alloy powders for its recently-released 3D printing systems: DM studio
and DM production systems.
·
In June 2014, Rio
Tinto established a new metal powder annealing facility in China. The US$
5 Mn plant in Suzhou, China, is expected to expand the company's
production capacity of metal powder by 8,000 metric tons/year, and help boost
its supply to the market in China.
Global Metal Powder Market –
Competition Landscape
·
The
global metal powder market is highly fragmented with the presence of a large
number of players.
·
High
capital investments and ongoing technological advancements in the metal powder
market are anticipated to lower the threat of new players in the market.
·
Key
players operating in the global metal powder market include Rio Tinto, Höganäs
AB, GKN Plc., Sandvik AB, BASF SE, JFE Holdings, Inc., Vale S.A., Alcoa
Corporation, Laiwu Iron & Steel Group Powder Metallurgy Co., Ltd, GGP
Metalpowder AG, Sarda Industrial Enterprises, Metal Powder Company Limited
(MEPCO), The Arasan Aluminium Industries (P) Ltd, MMP Industries Ltd. (MMPIL),
Deva Metal Powders Pvt. Ltd, Shakambari Enterprises (India) Pvt. Ltd., Innomet
Powders, Sri Kaliswari Metal Powders Pvt Ltd, Industrial Metal Powders (India)
Pvt. Ltd., and D M Metal Powder.
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