NEW YORK, May 24, 2019 /PRNewswire/ -- Persistence Market
Research's market research report titled, 'Metal Powder Market:
Global Industry Analysis 2013–2017 and Forecast 2018–2028',
scrutinizes the market, and offers insights pertaining to the
market dynamics and competition scenario for the period of 2018 to
2028. PMR has estimated that the global metal powder market is
expected to witness steady growth from 2018 to 2028, owing to
significant growth of the automotive, aerospace, and manufacturing
industries in developing and developed regions.
The global metal powder market registered the revenues of around
US$ 4.3 Bn in 2017, and is expected
to expand at a CAGR of 3.0% during the forecast period. The metal
powder market is estimated to create incremental $ opportunity
worth US$ 1,555 Mn during the
forecast period.
Increasing Automotive Production and Growing Adoption of
3D-Printing in the Automotive Industry Expected to Drive the Metal
Powder Market
Increasing automotive production in developed as well as
developing economies has been driving the growth of the global
metal powder market. In the automotive industry, lightweight
material is gaining significant traction, owing to its beneficial
properties such as high accuracy and more expected life, among
others. These lightweight components play a crucial role in the
implacable design of automotive vehicle components, especially in
electric cars, and help improve the performance of vehicles. Thus,
increasing automotive production across the globe is expected to
drive the demand for metal powder over the forecast period.
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Additive manufacturing or 3D-printing technology is gaining
robust traction in the medical sector to make accurate medical
equipment as well as organ implants so as to perform flawless
critical operations in less time. Expanding application at a high
rate will result in billowing demand for metal powder in the coming
years.
Industry 4.0 May Create a Substantial Opportunity for Metal
Powder Manufactures
In this new industrial world, everything will be connected
through the cloud and the Internet, which will enable factories to
function as a system rather than individual parts. This technology
has also gained traction among numerous end users of metal powder,
such as aerospace, automotive, oil & gas, medical, and
construction, among others. Industry 4.0 allows the ease of
connectivity of two or more machines, and makes a nexus of
cutting-edge technology. Metal powder is currently used to make
lightweight components. Therefore, in manufacturing plants, this
technology is playing a crucial role in increasing the
effectiveness of manufacturing plants by minimizing the wastage of
material and striving to reach efficacy as a result of the
implementation of Industry 4.0.
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Moreover, manufactures of metal powder emphasize on the
marketing strategy of products in order to enhance their market
share. This kind of organic growth across the competition landscape
of metal powder will be the key trend for the metal powder
market.
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South Asia's Metal Powder
Market Expected to Grow at a Healthy Rate
Globalization, industrialization, and urbanization is estimated
to boost the demand for metal powder over the coming years. Growing
economies have been witnessing urbanization on a huge scale, which
will consequently result in acceleration in the demand for
automotive, building & construction, and other end-use
industries in the South Asia
market. In order to fulfill these demands, the South Asia metal powder market estimated to
hold a significant position in forthcoming years.
Global Metal Powder Market: Vendor Insights
The global metal powder market is highly fragmented, owing to
the presence of small as well as international manufactures at
regional levels. Few players are identified across the value chain
of the global metal powder market – Sandvik AB, GKN PLC, Hitachi
Chemical Co., Ltd., ATI Powder Metals, Praxair Surface Technologies
Inc., Höganäs AB, AMG Advanced Metallurgical Group, Rio Tinto Plc,
voestalpine BÖHLER Edelstahl GmbH & Co KG, Aubert & Duval,
American Axle & Manufacturing, Inc., Carpenter Powered
Products, Royal Metal Powders, Australian Metal Powders Supplies
Pty Ltd., and CNPC Powder Group Co., Ltd, among others.
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