According to Data Bridge Market Research new Market report, global metal powder market will account to an estimated USD 3.10 billion in 2017 growing at a CAGR of 4.9% during the forecast period of 2018 to 2025.
Global Metal Powder Market
Metal powders are fine minute powdered metals that are used in the process of metallurgy. These powders are pressed together in shape and then heated just before the melting point so that the powder particles stick together and hence, can be implemented and applied into different shapes and sizes. They have the similar or adequate characteristics as other metals and the cost of the products produced through this process and including these components is significantly less.
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Global metal powder market is segmented on the basis of metal form, production method, compaction technique, metal powder and geography.
By Metal Form (Scrap/Recycled Metals, Ores/Pure Metal), Production Method (Physical, Chemical, Mechanical), Compaction Technique (Cold Compaction, Hot Compaction), Metal Powder (Ferrous Metal Powder, Non-Ferrous Metal Powder) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN METAL POWDER MARKET
Increasing levels of urbanization
According to United Nations, around 55% of the global population currently resides in urban areas as of 2018. Projections to this data suggest that by the year of 2050, this percentage of population could rise to 68%.
According to statista in 2018, Northern America had the highest share of the population living in urban areas, with around 82%, followed by the Latin America & the Carribean at 78%, Europe at 74%, Oceania at 67%, Asia at 49% and Africa at 43%.
This high share and projected rise of the share of the population living in the urban areas is expected to be one of the major factors for the growth of the market, as high levels of urbanization induces rise in the construction and various other end-use industries which employ the use of metal powder in production of end products.
Few of the major competitors currently working in the metal powder market are Allegheny Technologies Incorporated, American Axle & Manufacturing, Inc., American Chemet Corp., AMETEK Specialty Metal Products, Burgess-Norton Manufacturing Company, Carpenter Technology Corporation, Daido Steel Co Ltd., Diamet Corporation, Dowa Holdings Co. Ltd., Erasteel SAS, F. W. Winter Inc. & Co., Federal-Mogul Holdings Corp., Fine Sinter Co. Ltd., GKN Sinter Metals Inc., Hoeganaes Corp., H.C. Starck GmbH, Hitachi Chemical Company Ltd., Hgans AB, JFE Steel Corp., Kennametal Inc., Kobe Steel Ltd., Kymera International, Miba AG, Norilsk Nickel, PMG Holding GmbH, and Rio Tinto Metal Powders.
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Global Metal Powder Market– Industry Trends and Forecast to 2025