The US and Europe metal powder market is projected to witness a robust compound annual growth rate (CAGR) of 6.8% by 2032. In 2023, the market recorded a total revenue of USD 4,796.2 million. Among material segments, ferrous metals led the way with a revenue contribution of USD 2,514.7 million. The Powder Metal Hot Isostatic Pressing (PM HIP) process segment generated USD 1,994.0 million, while the automotive sector emerged as the top application area, contributing USD 2,941.8 million in the same year.
The market’s growth is largely fueled by the rise in automotive manufacturing and the expanding use of metal powders in the aerospace and defense industries. However, challenges such as high initial investment costs and limited raw material availability continue to hinder growth. Metal powders are increasingly utilized across various production processes, including additive manufacturing technologies like 3D printing, thermal spraying, and traditional powder metallurgy.
From a growth driver perspective, the US and Europe metal powder market is influenced by both macro and micro-level factors. Key macro drivers include the expanding automotive industry, high setup expenses, growing use in aerospace and defense, and technological advancements in the energy sector. On the micro level, intensified strategic efforts by industry players and ongoing supply chain disruptions are shaping the market dynamics.
Market Segmentation
The US & Europe metal powder market is divided into two segmentations by material, non-ferrous, and ferrous. Ferrous metals include steel, iron, and stainless steel, while non-ferrous metals include aluminum, titanium, nickel, copper, and others.
Metal injection molding, powder metal hot isostatic pressing, additive manufacturing, and others are segmentations of the market determined by the process.
The regional market has been segmented by applications such as oil & gas, energy & power, automotive, medical, aerospace & defense, and others. By region, the market is also segmented including the US and Europe.
Based on the country the US & Europe metal powder market has been segmented into Germany, Netherlands, Russia, Portugal, Italy, UK, France, Spain, and the rest of Europe.
Major Players
Advanced Technology & Materials Co. Ltd., BASF SE, Höganäs AB, Makin Metal Powders, Sandvik AB, GKN Powder Metallurgy, Carpenter Technology Corporation, ATI Inc., Rio Tinto, Kennametal are among the key players of US & Europe powder market.
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