Atomizing metal powder market expected to grow at a CAGR of 6.2% by 2028. Asia Pacific is anticipated to hold the largest share of the global market.
NEW YORK, UNITED STATES, November 24, 2021 /EINPresswire.com/ — According to the latest market study on “Atomizing Metal Powder Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product and Application” the market was valued at US$ 919.26 million in 2021 and is projected to reach US$ 1,400.67 million by 2028.
Market Size Value in – US$ 919.26 million in 2021
Market Size Value by – US$ 1,400.67 million by 2028
Growth rate – CAGR of 6.2% from 2021-2028
Forecast Period – 2021-2028
Base Year – 2021
No. of Pages – 156
No. Tables – 58
No. of Charts & Figures – 73
Historical data available – Yes
Segments covered – Product and Application
Regional scope – North America; Europe; Asia Pacific; Latin America; MEA
Country scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage – Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Metal powders can be manufactured using various processes such as atomization, chemical synthesis, electrolysis, and solid-state reduction. Out of these processes, atomization is a dominant method to produce metal and pre-alloyed powders, such as iron, aluminum, copper, steel, bronze, and tin. The technique uses high pressure fluid jets to disperse molten metal stream into fine droplets, which then solidifies into fine particles. There are various types of atomization processes, such as water atomization, gas atomization, centrifugal atomization, and ultrasonic atomization. Water and gas atomization are popular and commercially used processes owing to their cost efficiency and easy availability.
Increasing use of powder metallurgy in automotive industry influence the market globally
The automobile industry is evolving due to the emerging new methods for vehicle components manufacturing. The automotive industry is one of the most significant end-users of metal powders. There are three primary areas of application of metal powders in the industry, which comprise sintering, soldering, and additive manufacturing. Innovations in material development and pressing technique are directly responsible for expanding powder metal components in automobiles. Powder metallurgy is a well-established green manufacturing technology to produce net-shape components. The ability to produce materials at a higher density and strength, the capability of producing increasingly complex parts, and the cost-effective manufacturing of auto components are a few advantages of powder metallurgy in the production of automotive parts. Metal powder manufacturers are benefiting from the growing demand for light-weighting metal parts in the automotive industry, which propels demand for atomizing metal powders.
Impact of COVID-19 on Atomizing Metal Powder Market:
The ongoing COVID-19 pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the atomizing metal powder market. The implementation of measures to combat the spread of the virus has aggravated the situation and has impacted the growth of several sectors. Industries, such as automotive, and electronics, have been hampered by the sudden distortion in operational efficiencies and disruptions in the value chains due to the sudden closure of national and international boundaries. The expanding demand for atomizing metal powder in various applications, such as sintered parts, powder metallurgy, and additive manufacturing, and significant investments by prominent manufacturers are expected to drive the growth of the atomizing metal powder market during the forecast period.
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Atomizing Metal Powder Market: Application
Based on application, the global atomizing metal powder market is segmented into metallurgy, coating and decorations, electronic materials, sintered parts, diamond cutting tools, additive manufacturing, and others. In 2020, the additive manufacturing segment held the largest market share. 3D printing, also known as additive manufacturing (AM), is a process of creating a three-dimensional solid object from a digital file. Aluminum, copper, and titanium powders are used in additive manufacturing. The increasing use of additive manufacturing is driving the growth of the atomizing metal powder market.
Atomizing Metal Powder Market: Competitive Landscape and Key Developments
Höganäs AB; JFE GROUP; Sandvik AB; GKN Sinter Metals Engineering GmbH; Advanced Technology & Materials Co., Ltd; KOBE STEEL, LTD.; Kymera International; Makin Metal Powders (UK) Ltd; MITSUI MINING & SMELTING CO., LTD.; Pometon S.p.A.; and m-tec powder GmbH are among the well-established players operating in the global atomizing metal powder market.
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The overall global atomizing metal powder market size has been derived in accordance with both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global atomizing metal powder market.
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Source: EIN Presswire