Rapid growth of the construction industry is foreseen to be one of the key growth drivers of the global Metal Powder Market size. Metal powder is extensively utilized in building and construction operations such as for installing steel rims and other interior fittings. According to a study conducted by Oxford Economics, the construction industry will experience a meteoric rise in the next two decades, surging at a rate of 85%. By 2030, the study says, the output value of this industry will reach USD 15.5 trillion, with China, India, and the US accounting for majority of the rise.
Prominent Players Covered in the Metal Powder Market Report by Fortune Business Insights™ Include:
- Kymera International
- The Metal Powder Company Limited
- Praxair Surface Technologies
- Miba Group
- Rio Tinto
- Carpenter Technology Corporation
- Advanced Metallurgical Group
- ATI (Allegheny Technologies Incorporated)
- Höganäs AB
- GKN Hoeganaes
- C. Starck
Fortune Business Insights™, in its new report, titled “Metal Powder Market Size, Share & Industry Analysis, By Metal Type (Ferrous Metal, Non-Ferrous Metal), By Production Method (Mechanical Method, Chemical Method, Physical Method), By Compaction Technique (Hot Compaction, Cold Compaction), By End-User (Automotive, Electrical & Electronics, Medical, Manufacturing, Others) and Regional Forecast, 2019-2026”, provides valuable information on the market in the form of:
The industry is expected to flourish in the developing economies of India and China. The Oxford study estimates that the industry will grow twice as fast in India as in China owing to the skyrocketing increase in India’s urban population. This will surge the demand for powder metallurgy and emerge as one of the leading metal powder market trends during the forecast period.
Gain More Insights into the Metal Powder Market Research Report: https://www.fortunebusinessinsights.com/industry-reports/metal-powder-market-101458
Wide-ranging Applicability of Metal Powder to Favor Its Uptake
Metal powders are essentially base metals that are converted into powder form. These powders lay the foundation for powder metallurgy operations and the upcoming field of additive manufacturing. Metal powders are versatile in nature as they can be utilized across a vast spectrum of industrial processes. For instance, these powders can be used to coat metallic surfaces to prevent wear and corrosion. Moreover, they are well-suited for high-energy applications such as laser cladding and flame spraying. In the manufacturing sector, metal powders are heavily employed in making different automotive components, powder metallurgy, diamond tools, metal injection molding, among others. Lastly, these powders are becoming increasingly popular in the 3D printing industry, the metal powder market analysis shows.
Rising Interest in Additive Manufacturing to Fuel the Market in North America
North America is likely to lead the metal powder market share during the forecast period owing to the increasing adoption of robotics and a fast-rising additive manufacturing industry in the region. In Europe, the primary factor driving the market in the region is the growing research into powder metallurgy along with increasing popularity of additive technology in various industrial applications. In terms of share, Asia-Pacific is projected to dominate on account of a rapidly developing manufacturing sector, a thriving transport sector, and a rising demand for lightweight components in the automotive industry.