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Atomizing Metal Powder Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product and Application

Atomizing Metal Powder Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product and Application

  • October 2021
  • 156 pages
  • ID: 6195558
  • Format: PDF
  • The Insight Partners

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The atomizing metal powder market was valued at US$ 919.26 million in 2021 and is projected to reach US$ 1,400.67 million by 2028; it is expected to grow at a CAGR of 6.2% from 2021 to 2028. Metal powders can be manufactured using various processes such as atomization, chemical synthesis, electrolysis, and solid-state reduction. Out of these processes, atomization is a dominant method to produce metal and pre-alloyed powders, such as iron, aluminum, copper, steel, bronze, and tin. The technique uses high pressure fluid jets to disperse molten metal stream into fine droplets, which then solidifies into fine particles. There are various types of atomization processes, such as water atomization, gas atomization, centrifugal atomization, and ultrasonic atomization. Water and gas atomization are popular and commercially used processes owing to their cost efficiency and easy availability.

Atomizing metal powder has wide applications in metallurgy, coating, and decorations, additive manufacturing, and sintered parts.The various kinds of metal powders are used as bonding agents in the fabrication of diamond cutting and grinding tools.

Moreover, the increasing use of additive manufacturing is driving growth in the growth of the atomizing metal powder market.

Based on application, the global atomizing metal powder market is segmented into metallurgy, coating and decorations, electronic materials, sintered parts, diamond cutting tools, additive manufacturing, and others. In 2020, the additive manufacturing segment held the largest market share. 3D printing, also known as additive manufacturing (AM), is a process of creating a three-dimensional solid object from a digital file. Aluminum, copper, and titanium powders are used in additive manufacturing. The increasing use of additive manufacturing is driving the growth of the atomizing metal powder market.

Geographically, the atomizing metal powder market is segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SAM), and Middle East & Africa (MEA).Asia Pacific is a lucrative market for atomizing metal powder due to the rapidly evolving automotive industry.

Various industries such as electronic, electrical, and automotive, are major growth propellers of the market in the region.The key manufacturers in Asia Pacific are highly focused on developing high-quality and innovative products to meet the end users’ requirements through research & development, technological advancement, and other strategies.

In North America, the growing demand for powder metallurgy-produced components is expected to drive the growth of the atomizing metal powder market in the coming years. The increasing use of atomizing metal powders in numerous applications is expected to propel the demand for atomizing metal powders during the forecast period.

The ongoing COVID-19 pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the atomizing metal powder market.The implementation of measures to combat the spread of the virus has aggravated the situation and has impacted the growth of several sectors.

Industries, such as automotive, and electronics, have been hampered by the sudden distortion in operational efficiencies and disruptions in the value chains due to the sudden closure of national and international boundaries.The significant decline in the growth of the several industrial sectors reduced the demand for atomizing metal powder in the global market.

Many parts producers and powder makers from the powder metallurgy sector have had to cut back and adjust their operations owing to the reduced demand from the market.The shortage of raw materials in the automotive industry has adversely affected the performance of the powder metallurgy sector and reduced the demand for atomizing metal powders.

However, as the economies are planning to revive their operations, the demand for atomizing metal powder is expected to rise globally in the coming years. Additive manufacturing is widely used in the medical device industry. With the economic challenges posed by the COVID-19 pandemic, the importance of 3D printing is growing. The companies operating in the powder metallurgy business are coming on track as supply constraints affecting the automotive industry are being resolved gradually. The expanding demand for atomizing metal powder in various applications, such as sintered parts, powder metallurgy, and additive manufacturing, and significant investments by prominent manufacturers are expected to drive the growth of the atomizing metal powder market during the forecast period.

Höganäs AB; JFE GROUP; Sandvik AB; GKN Sinter Metals Engineering GmbH; Advanced Technology & Materials Co., Ltd; KOBE STEEL, LTD.; Kymera International; Makin Metal Powders (UK) Ltd; MITSUI MINING & SMELTING CO., LTD.; Pometon S.p.A.; and m-tec powder GmbH are among the well-established players operating in the global atomizing metal powder market.

The overall global atomizing metal powder market size has been derived in accordance with both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global atomizing metal powder market.

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