The Metal
Powder Global Market Report 2024 by The Business Research Company provides
market overview across 60+ geographies in the seven regions - Asia-Pacific,
Western Europe, Eastern Europe, North America, South America, the Middle East,
and Africa, encompassing 27 major global industries. The report presents a
comprehensive analysis over a ten-year historic period (2010-2021) and extends
its insights into a ten-year forecast period (2023-2033).
Learn More On The Metal Powder Market:
https://www.thebusinessresearchcompany.com/report/metal-powder-global-market-report
According to The Business Research Company’s Metal Powder Global Market Report
2024, The metal powder market size has grown strongly in recent years. It will
grow from $7.11 billion in 2023 to $7.68 billion in 2024 at a compound annual
growth rate (CAGR) of 8.0%. The growth
in the historic period can be attributed to medical device manufacturing,
consumer electronics, automotive sector demand, cost-effective production,
increased customization needs..
The metal powder market size is expected to see strong growth in the next few
years. It will grow to $10.09 billion in 2028 at a compound annual growth rate
(CAGR) of 7.1%. The growth in the forecast period can be attributed to rapid
prototyping applications, expansion of wearable devices, medical microfluidics,
automotive interior components, biodegradable materials.. Major trends in the
forecast period include advancements in materials, customization and
prototyping, sustainability and material recycling, advancements in mold design
and technology, smart packaging solutions..
Increasing electric vehicle demand is expected to propel the growth of the
metal powder market going forward. Electric vehicles are vehicles that consist
of a motor that is powered by electricity stored in batteries, operates on
electric motors, and charges its batteries with electricity rather than
utilizing fossil fuels such as gasoline or diesel. Metal powder in the electric
vehicle is used to create lighter components over traditionally forged
alternatives such as battery production, motor production, and 3D printing to
create lightweight, high-strength parts. For instance, according to the Global
EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the
previous year in 2021, reaching a new high of 6.6 million. Additionally, the
sales of electric car vehicles worldwide in 2021 have reached 6600000 units
from 2980000 units. Therefore, the increased demand for electric vehicles is
driving the growth of metal powder.
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The metal powder market covered in this report is segmented –
1) By Type: Ferrous, Non-Ferrous, Other Types
2) By Process: Atomization, Reduction Of Compounds, Electrolysis, Other
Processes
3) By Application: Additive Manufacturing, Powder Metallurgy, Metal Injection
Molding, Other Applications
4) By End-Use Industry: Transportation, Electrical And Electronics, Medical,
Chemical And Metallurgical, Defense, Construction, Other End-User Industries
Advancements in 3D printing technologies are a key trend gaining popularity in
the metal powder market. Major market players are concentrating their efforts
on creating innovative 3D printing technologies to create lightweight,
high-strength parts based on metal powders that can improve the performance and
efficiency of vehicles. For instance, in April 2023, Eplus3D Tech GmbH, a
Germany-based company specializing in developing and manufacturing advanced 3D
printing technologies and systems for industrial applications, launched the
EP-M400, a new quad-laser metal powder bed fusion 3D printer designed to
increase productivity and efficiency in the additive manufacturing industry by
enabling high-speed and high-precision printing of metal parts using metal
powders as the raw material. The EP-M400 3D printer offers an open-system
format capable of utilizing various metal powders such as nickel-based alloys,
tool steels, die steels, aluminum alloys, titanium alloys, and copper alloys.
The metal powder market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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