Global Atomizing Metal Powder Market Analysis, Trends and Opportunities 2020 - 2024
Summary -
A new market
study, titled “Global Atomizing Metal Powder Market - Global Demand, Sales, Consumption and
Forecasts to 2024“ has been featured on WiseGuyReports.
Market
Analysis
Atomizing
Metal Powder Market is projected to register a healthy CAGR of 6.91% to reach a
market value of over USD 4,100 Million by the end of 2026. Metal powders are
metal particles with size less than 1,680 micrometers and have a high surface
area to mass ratio. They are generally produced by four main processes, namely
atomization, chemical, electrolysis, and solid-state reduction. Atomization is
the most commonly used production method for metal powders. The process
generally consists of three stages, namely melting, dispersion of the melt into
droplets, and solidification and cooling. The two major types of atomization
used for metal powder production are gas and liquid atomization. The metallurgy
industry is the largest consumer of atomized metal powders, wherein these
powders are widely used in various powder metallurgy processes. Powder
metallurgy (PM) is recognized as a green and sustainable manufacturing
technology to produce finished components in the automotive industry. The
snowballing use of PM over the traditional processes (such as machining,
casting, and extrusion) is mainly attributed to the substantial cost savings,
high dimensional accuracy, good part-to-part reproducibility, minimal
post-processing, dimensional freedom, and compositional complexity obtainable
using the PM process. With the growing automotive industry and growing use of
powder metallurgy in the automotive industry, the demand for atomized metal
powders is expected to increase substantially in the coming years. The
protuberant factors favouring the global market growth are increasing demand
for powder metallurgy in the automotive industry and diverse applications
served by atomized metal powders in the surface coating process. The growth of
the automotive industry coupled with the rising demand for lightweight and high
strength components is expected to boost the application of atomized metal
powders in automobile components including engine and chassis. Moreover, the
demand for advanced surface coating technologies is constantly increasing in
major end-use industries such as aerospace, steel, oil & gas, and power.
Atomized metal powders are majorly used in the metallurgy industry in the
manufacturing of various products and coating applications. The automotive
industry recently is facing a challenge of procuring components that are light
in weight, exhibit high durability and reliability, and offer superior
performance to produce comfortable and safe vehicles at a low cost. PM is a
green and energy-saving process, offering improved performance and greater
design flexibility and helps to achieve the changing needs and demand from
existing and potential customers of automobile manufacturers while maintaining
higher value than competing material technologies. The application areas
include windshield wipers, connecting rods, valves, fuel injection components,
actuators, heaters, gear parts, lightning systems, brake systems, window
lifter, sensors, battery, transmission, and shock absorber parts. Thus, the
growing automotive industry and increasing demand for atomized metal powders in
the powder metallurgy processes for manufacturing lightweight automobile
components are expected to be the major factors driving the global market
growth. However, the fluctuations in the prices of iron ore, the major raw
material, is expected to be the key factor hampering the market growth.
Nevertheless, the robust demand for atomized metal powders in 3D printing
applications is assumed to be a major aspect providing a thrust to the market
growth in the years to follow.
Market
Segmentation
Based on type,
the Global Atomizing Metal Powder Market has been segmented into atomizing iron
powder, atomizing copper powder, and others. Among these, the atomizing iron
powder segment prevailed as the leading type segment with a market share of
around 65% in the year 2018. The atomized iron powder is used in an array of
applications including friction materials and products (brake pads, drum brake
lining); sintered parts, products, and components; and brazing and welding
services. By application, the global atomizing metal powder market has been
divided into the metallurgy industry, chemical industry, electronic materials,
diamond tools, welding, 3D printing, and others. Among these segments, the
metallurgy industry segment held the largest market share of over 34% in the
year 2018 owing to the widespread use of atomized metal powders in the
manufacturing of complex and high strength components for automobiles,
aircraft, and consumer goods.
Regional
Analysis
The Global
Atomizing Metal Powder Market has been studied with respect to five key
regions, namely North America, Europe, Asia-Pacific, Middle East & Africa,
and Latin America. The North American market accounted for the largest share of
the global market in 2018 owing to the wide base of the automotive industry in
the US and the presence of automotive OEMs in the region. In addition, the
expanding market for additive manufacturing in the US is further expected to
support the demand for atomizing metal powder in the region over the next
decade. The Asia-Pacific market held a relatively smaller share of the global
market in 2018; however, is projected to register the highest CAGR during the
forecast period. This is mainly attributed to the expanding automotive industry
in the emerging economies of China and India, as well as in the established
market in Japan. These country-level markets are expected to witness high
investments in the aviation sector, for instance, the Indian aviation sector is
likely to witness investment of around USD 15 Billion during 2018–2022. This,
in turn, is expected to fuel the demand for atomizing metal powders during the
forecast period.
Major
Players
The
Prominent Players in the Global Atomizing Metal Powder Market are Höganäs AB
(Sweden), Sandvik AB (Sweden), Hangzhou Yitong New Material Co., Ltd (China),
Kobe Steel Ltd (Japan), JFE Steel Corporation (Japan), Kymera International
(US), Makin Metal Powders (UK) Ltd (UK), GKN Sinter Metals Engineering GmbH
(US), Mitsui Mining & Smelting Co., Ltd(Japan), Laiwu Feilong Powder
Metallurgy Co. Ltd (China), Pompton S.p.A. (Italy), and SAFINA a.s. (Czech
Republic), among others.
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5166759-global-atomizing-metal-powder-market-research-report-forecast-till-2026
About Us:
Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.
Contact Us:
NORAH
TRENT
Ph: +162-825-80070
(US)
Ph: +44 2035002763
(UK)
Comments
Post a Comment