Global Metal Powders Market to Reach $3.7 Billion by 2026
SAN FRANCISCO, May 18, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Metal Powders - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 19; Released: May 2021
Executive Engagements: 6091
Companies: 145– Players covered include Allegheny Technologies Incorporated; American Axle & Manufacturing, Inc.; American Chemet Corp.; AMETEK Specialty Metal Products; Burgess-Norton Manufacturing Company; Carpenter Technology Corporation; Daido Steel Co., Ltd.; Diamet Corporation; Dowa Holdings Co., Ltd.; Erasteel SAS; F. W. Winter Inc. & Co.; Federal-Mogul Corporation; Fine Sinter Co., Ltd.; GKN Sinter Metals, Inc.; Hoeganaes Corp.; H.C. Starck GmbH; Hitachi Chemical Company, Ltd.; Höganäs AB; JFE Steel Corp.; Kennametal, Inc.; Kobe Steel, Ltd.; Kymera International; Miba AG; Norilsk Nickel; PMG Holding GmbH; Pometon SpA; Rio Tinto Metal Powders; Sumitomo Electric Industries, Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Type (Ferrous, Non-Ferrous, Other Types); Production Method (Physical, Chemical, Mechanical); Application (Automotive, Aerospace & Defense, Construction, Electrical & Electronics, Healthcare, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global Metal Powders Market to Reach $3.7 Billion by 2026
Metal powders are base materials which are required for manufacturing metallic components for a number of industries. Powders depict a behavior that is in the mid-range with solid and liquid metal forms. Powders therefore can flow easily into containers or die cavities and can also be compressed like gases. These features allow metal powders to be shaped easily with the required characteristics of solid metal. Amid the COVID-19 crisis, the global market for Metal Powders estimated at US$2.8 Billion in the year 2020, is projected to reach a revised size of US$3.7 Billion by 2026, growing at a CAGR of 5.1% over the analysis period. Ferrous, one of the segments analyzed in the report, is projected to record a 5% CAGR. United States represents the largest regional market accounting for an estimated 35.4% share of the global total in 2020. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Ferrous segment is readjusted to a revised 5.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.02 Billion in 2021, While China is Forecast to Reach $431.5 Million by 2026
The Metal Powders market in the U.S. is estimated at US$1.02 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$431.5 Million by the year 2026 trailing a CAGR of 7.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 4.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR. Increase in demand for structural components from various applications including home appliances, motorcycles, agriculture equipment and automotive parts among others will continue to support growth in the metal powders market. Iron & steel constitute the major ingredients in structural component manufacturing. Development of improved production techniques and better understanding of processes used in powder manufacture remain critical to growth.
Ferrous Segment to Reach $2.7 Billion by 2026
Ferrous powders, comprising Iron powder and Stainless steel powders, represent the largest type of metal powders, constituting for about 74% share of the global market. Iron powders are used in powder metallurgy of steel, iron and in conjunction with other metals. Iron powder, which can be made into complex shapes, is mainly utilized in ferromagnetism and in automotive industries. The global Ferrous segment is estimated at US$2.1 Billion in 2020, and is projected to reach US$2.7 Billion by 2026 reflecting a compounded annual growth rate of 5.0% over the analysis period. United States constitutes the largest regional market for Ferrous segment, accounting for 36.1% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 6.9% over the analysis period, to reach US$325.6 Million by the year 2026. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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