Metal Powder Market Forecasted to Expand at 4.4% CAGR, Crossing USD 12.1 billion by 2031Posted by Kaustubh Ravan on April 24th, 2024 Metal powder market worth US$ 7.8 billion in 2021. A CAGR of 4.4% is expected between 2022 and 2031. In 2031, the global market for metal powder is expected to reach US$ 12.1 billion. The metal powder market is expected to benefit from rapid advances in additive manufacturing technologies, such as 3D printing. Increasingly sophisticated AM processes and lower costs will increase demand for metal powders in automotive, aerospace, healthcare, and other industries. Metal powder manufacturers can produce complex and customized metal components by reducing waste and improving efficiency. New and advanced metal powders will likely be created due to ongoing research and development in metallurgy and materials science. Materials like these could be used in high-performance industries, including aerospace and defense, increasing their strength, durability, and heat resistance. Download a sample PDF copy of the report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=69533 As the metal powder market continues to grow, sustainability and environmentally friendly practices will play an increasingly crucial role. Additive manufacturing uses metal powders, especially those that use minimal materials and reduce waste. Industries that want to minimize their environmental impact and meet strict regulatory requirements are likely to increase the adoption of this technology. Market Segmentation
Regional Analysis
Market Drivers and Challenges Drivers:
Challenges:
Market Trends
Future Outlook The metal powder market is poised for significant growth opportunities, driven by ongoing technological advancements, increasing demand from key industries, and expanding applications in emerging sectors such as renewable energy and 3D printing. Key Market Study Points
Competitive Landscape Prominent Metal Powder Players Profiled in the Report
Key Developments In September 2023, GKN Powder Metallurgy announced 'satisfactory' first-half earnings. Revenues adjusted for inflation were £545 million, up 2% from 2022. As a result, volumes fell 1% year-over-year due in part to accelerating EV transitions, operational difficulties in the US, and a facility closure in 2022. In January 2024, Sandvik AB, a manufacturer of metal powders based in Stockholm, Sweden, announced it will distribute its metal powder products in the United States through KBM Advanced Materials, LLC. Recent Developments
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