The Global Metal Powder market is expected to grow at a significant rate during the forecast period. The Metal Powder Market is projected to reach the valuation of 5.98 USD billion in 2020 by growing at a CAGR of above 7.1% during the forecast period 2016-2026.
Metal powder is made up of various metals such as aluminum, iron metal, copper, etc. Metal powder is extensively used for several applications due to several advantages and benefits of metal powder, which is expected to create ample growth opportunities over the forecast period.
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Metal powders are used in every primary system in automobiles, and as vehicle production, metal powder usage will increase as well. Due to superior performance, the automotive sector is estimated to dominate the metal powder market. Compared with conventional methods such as casting, forging, and stamping, powder metallurgy is considered more energy efficient. Metal powders allow many of automobile parts to be cost-effectively produced. Manufacturers of computers and electronics use the smallest quantity of metal powders by volume but are the largest market by dollar value.
Metal powders are used in various industries such as automotive, health, building, chemical, aerospace, etc. Metal powder applications are fairly large. Their use in powder metallurgy also results in a variety of products, including dental restorations, oilless bearings, auto transmission gears, armor-piercing bullets, etc.
Technological progress never ceases. It is constantly reinventing itself with new materials, processes, and products that will contribute to the future. Metal powder producers, manufacturers of equipment, and process companies are all investing in new technology to expand their business.
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The global Metal Powder Market separated through geography into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The North American market is expected to dominate in the projected years. The USA is projected to grow fastest in the North America region due to high demand in the automobile, electrical and health care sectors. The Asia Pacific is projected to be the fasted growing in the region. This is due to rapid industrial growth and urbanization are driving the production of metal powder in Asia Pacific developing countries.
The major market players in the Metal Powder are BASF SE, Sandvik AB, GKN Plc., Rio Tinto, Hgans AB, JFE Holdings, Inc., Vale S.A., Alcoa Corporation, Laiwu Iron & Steel Group Powder Metallurgy Co., Ltd, GGP Metalpowder AG, Sarda Industrial Enterprises, Metal Powder Company Limited (MEPCO), The Arasan Aluminium Industries (P) Ltd, MMP Industries Ltd. (MMPIL), Deva Metal Powders Pvt. Ltd and other prominent players.
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