Metal Powder Market Research Report Information By Metal Type (Ferrous and Non-Ferrous), By Production Method (Mechanical Method and Chemical Method), By End-use Industry (Automotive, Manufacturing, Medical, Electrical & Electronics, and Others), And By R

Global motor vehicle manufacturing is increasing at a 6.5% CAGR between 2020 (77.4 million units) and 2023 (93.5 million units). Growth in vehicle production is predicted to have a direct impact on metal powder usage during the projection period (2024-2032).

Rising spending power and rapid population growth are the primary factors of increased demand for automobiles. The automobile industry's use of powdered metals is related to metallurgy, which aids in the production of numerous components such as bearings, camshaft pulleys, crankshaft sprockets, and gears. Powder metallurgy is also used to cut, weld, and manufacture structural components. Furthermore, methods such as laminate molding and metal injection molding are gaining popularity in the automotive industry since they can produce intricate patterns.

Market Segment insights
Metal Powder market segmentation by metal type comprises ferrous and non-ferrous. The ferrous segment is expected to dominate the market throughout the forecast period. Ferrous metals include iron and steel. They are used in a wide range of products, including dental restoration, oil-less bearings, automotive transmission gears, Orthopedic implants, and aircraft brake pads.

The Metal Powder market is segmented by production technique, which includes mechanical and chemical methods. The mechanical method segment dominated the market because to its superior efficiency and versatility. It involves water and gas atomization, milling, mechanical alloying, electrolysis, and the spray process.

The Metal Powder market is segmented by end-use industry, including automotive, manufacturing, medical, electrical & electronics, and others. The automotive segment dominated the market and is projected to continue to do so during the forecast period.

Regional insights
The analysis covers market insights for North America, Europe, Asia-Pacific, and the rest of the world. During the projected period, the Asia Pacific region is expected to grow at a favorable rate. This is largely owing to China's status as a manufacturing hub for a wide range of items, including automotive OEMs and electronics. China leads Asia Pacific in powdered metal manufacturing due to the existence of numerous medium and small-sized enterprises.

North America may have tremendous growth over the projection period. The growing demand and use of technologies in the United States, such as powder forging and additive manufacturing, is expected to drive the North American market. Furthermore, the market will be driven by advancements in advanced manufacturing technologies, as well as increases in R&D expenses.

Europe has the third-largest metal powder market share due to rising vehicle demand. Furthermore, Europe is a major passenger car manufacturing base, which is fueling the expansion of the powdered metal industry.

Major Players
Major Metal Powder market competitors, including Sandvik AB (Sweden), Carpenter Technology Corporation (United States), Hoganas AB (Sweden), and GKN Plc. (United Kingdom), are seeking to boost market demand by supporting R&D projects.