Global Steel Metal Powder Market, By Process (Atomization, Solid State Reduction, Electrolysis, Others), Technology (Pressing and Sintering, Metal Injection Molding, Additive Manufacturing, Others), Application (Transportation and Logistics, Industrial, Construction, Electrical and Electronics, Others), Metal Form (Scrap/Recycled Metal, Ores), Production Method (Physical, Chemical, Mechanical), Compaction Technique (Cold Compaction, Hot Compaction), Metal Powder (Ferrous Metal Powder, Non-Ferrous Metal Powder), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Steel Metal Powder Market
Data Bridge Market Research analyses that the steel metal powder market will witness a CAGR of 22.00% for the forecast period of 2022-2029. Growth in the steel metal powder especially in the developing economies such as India and China, surging application of steel metal powder for a wide range of applications such as electrical and electronics, consumer goods, healthcare and others increasing investment by the government for research and development activities and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the steel metal powder market. Therefore, the market value, which was USD 70 million in 2021, would rocket up to USD 343.53 million by 2029.
From the name itself, it is clear that steel metal powder is the steel available in powdered form. In other words, the steel that is broken into its powdered form to be used for a wide range of industrial applications is known as steel metal powder.
Rise in demand for steel metal powder by buildings and construction industry is the root cause for fuelling up the market growth rate. Rising demand for steel metal powder in the additives manufacturing and other industrial applications and growth and expansion of various end user verticals in the emerging economies will also directly and positively impact the growth rate of the market. Rising awareness about the benefits of steel metal powder in comparison to other alternatives such as cost-effectiveness, reduced manufacturing time, high volume capability, less wastage, and recyclability, rising expenditure for research and development proficiencies by the major companies, upsurge in the rate of industrialization, growing focus on manufacturing lightweight and electric vehicles, surging rationalizing of packaging materials coupled with growing demand for powder metallurgy manufactured components and growing focus on the technological advancements and modernization in the production techniques will further carve the way for the growth of the market.
However, high manufacturing costs, insufficiency in raw material demand and supply owing to the lockdown and volatility in their prices will pose a major challenge to the growth of the market. High cost associated with research and development proficiencies, large scale availability of alternatives and strict global trade restrictions will dampen the market growth rate. Also, stringent government rules and regulations imposed on the industries will also hamper the market growth rate.
This steel metal powder market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on steel metal powder market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Steel Metal Powder Market Scope and Market Size
The steel metal powder market is segmented on the basis of process, technology, application, production method, metal form, metal powder and compaction technique. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of process, the steel metal powder market is segmented into atomization, solid state reduction, electrolysis and others.
- On the basis of technology, the steel metal powder market is segmented into Pressing and sintering, metal injection molding, additive manufacturing and others.
- The application segment for steel metal powder market is segmented into transportation and logistics, industrial, construction, electrical and electronics and others. Others segmnt is sub-segmented into medical/healthcare, defense, decorative, and entertainment.
- On the basis of metal form, the steel metal powder market is segmented into scrap/recycled metal, and ores.
- On the basis of production method, the steel metal powder market is segmented into physical, chemical, and mechanical.
- On the basis of compaction technique, the steel metal powder market is segmented into cold compaction, and hot compaction.
- On the basis of metal powder, the steel metal powder market is segmented into ferrous metal powder and non-ferrous metal powder.
Steel Metal Powder Market Country Level Analysis
The steel metal powder market is segmented on the basis of process, technology, application, production method, metal form, metal powder and compaction technique.
The countries covered in the steel metal powder market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the steel metal powder market owing to the growing demand from various end-use industries, increase in the research and development activities, favourable investment policies by the government in order to promote industrial growth, high economic growth in the emerging countries, presence of small- and medium-sized component manufacturers, growing buildings and construction activities, abundant availability of raw materials and rising investments by various public and private manufacturers in Asia Pacific.
The country section of the steel metal powder market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Steel Metal Powder Market Share Analysis
The steel metal powder market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to steel metal powder market.
Some of the major players operating in the steel metal powder market report are ATI. American Axle & Manufacturing, Inc., American Chemet Corporation, AMETEK Inc., Burgess-Norton., CRS Holdings, LLC., Daido Steel Co., Ltd., DIAMET CORPORATION, DOWA HOLDINGS CO., LTD., ERASTEEL, F.W. Winter Inc, & Co., Federal-Mogul Holdings Corp., fine-sinter Co., Ltd., GKN Sinter Metals Engineering GmbH, H.C. Starck Tungsten GmbH, Showa Denko Materials Co., Ltd., Höganäs AB, JFE Steel Corporation., Kennametal Inc., and KOBE STEEL, LTD., among others.
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