Atomizing Metal Powder Market worth USD 5,594.9 million by 2028, registering a CAGR of 6.91% – Report by Market Research Future (MRFR)
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) — Atomizing Metal Powder Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Atomizing Metal Powder Market: Information by Product Application and Region – Forecast till 2028” the market is projected to be worth USD 5,594.9 million by 2028, registering a CAGR of 6.91% during the forecast period (2021 – 2028).
Competitive Landscape:
The MRFR analysis profiles a few key manufacturers of in the Atomizing Metal Powder Market report, including
- Hoganas AB (Sweden)
- Sandvik AB (Sweden)
- Hangzhou Yitong New Material Co. Ltd (China)
- Kobe Steel Ltd (Japan)
- JFE Steel Corporation (Japan)
- Kymera International, Makin Metal Powders Ltd (UK)
- GKN Sinter Metals Engineering GmbH (US)
- Mitsui Mining & Smelting Co. Ltd (Japan)
- Laiwu Feilong Powder Metallurgy Co. Ltd (China)
- Pompton S.p.A. (Italy)
- SAFINA A.S. (Czech Republic). Among others.
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Market Scope:
Atomization occurs when a sprayed material is sprayed onto a molten metal, resulting in the formation of metal powder. As the name implies, it is the process of breaking down a material’s atomic structure and converting it to an amorphous structure, which is commonly accomplished through atomization, chemical electrolysis, or solid-state reduction. The majority of industries prefer the atomization process for this purpose, and the most common types of atomization are gas and water atomization. Metal powder is used in a variety of commercial metallurgy processes. In the automotive industry, powder metallurgy is viewed as a green and sustainable method of manufacturing finished products.
Market USP:
Market Drivers:
The metal powder industry is growing and exploring new avenues for market expansion. With the increased use of metal powder in the automotive industry, demand is expected to increase significantly over the next few years. The automotive industry has demonstrated an increased demand for metal powder used in the metallurgical process. Additionally, atomization is preferred to other processes for the formation of metal powder. Windshield wipers, connecting rods, valves, fuel injection components, actuators, heaters, gear parts, lightning systems, brake systems, window lifter, sensors, battery, transmission, and shock absorber parts are all examples of applications for atomizing metal powder. In aggregate, metal powder is used to coat or layer an industrial product. Additionally, the widespread use of atomizing techniques has benefited and grown the market for atomizing metal powder. Because it is a more cost-effective and efficient process, industries are increasingly using atomized metal powder for coating and layering purposes in additive manufacturing products.
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Market Restraints:
Market Restraints: Customizing the volatile raw material’s price can help alleviate this constraint.
COVID-19 Analysis:
The year 2020 has been challenging in a variety of ways for various businesses and industries. Due to a variety of factors, the outbreak of the deadly virus has pushed world-class industries into a period of decline and loss. The global economy is contracting as a result of the COVID-19 period. The situation is not improving, but various markets and businesses have developed new market strategies to deal with the situation.
Market Segmentation:
The market for atomizing metal powder has been segmented by type, application, and region.
The market has been segmented according to type into atomizing iron powder, atomizing copper powder, and others. With the automotive industry growing at a healthy clip and the need to reduce the weight of automobile components, demand for iron powders is expected to increase in the coming years.
The global atomizing metal powder market has been segmented by application into metallurgy, chemical industry, electronic materials, diamond tools, welding, and 3D printing.
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Regional Insights:
The Global Atomizing Metal Powder Market is segmented into five major regions: Asia-Pacific, North America, Europe, the Middle East and Africa, and Latin America.
North America was the largest regional market in 2018, with a market share of around 40%, and is expected to grow at a CAGR of more than 7% over the forecast period. The regional market is primarily being driven by technological advancements in the manufacturing of PM parts, including hot isostatic pressing, metal injection molding, and additive manufacturing.
Asia-Pacific is expected to be the fastest-growing region, expanding at a 7.58 percent compound annual growth rate during the assessment period. China, Japan, and South Korea are the region’s primary consumers of atomizing metal powder. The region’s rapidly growing automotive and aerospace & defense industries, as well as its expanding manufacturing base, are expected to be major drivers of regional market growth in the years ahead.
Segmentation of Market covered in the research:
Atomizing Metal Powder Market: Information by Product (Atomizing Iron Powder, Atomizing Copper Powder), Application (Metallurgy Industry, Chemical Industry, Electronic Materials, Diamond Tools, Welding, 3D Printing) and Region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) – Forecast till 2028
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