10 Juin 2020
Browse 241 market data tables with 63 figures across 250 pages and in-depth TOC on “Metal Powder Market”.
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The metal powder industry is influenced by the increase in population, consumer awareness, changing consumer lifestyles & preferences, urbanization, and development in economy, which drive the demand for sustainable products. This has resulted in the rise in disposable income of consumers and the ability to purchase a range of new products from automobiles, personal technology, and packaged foods. These factors will drive the demand for metal powder from these regions. The increase in the demand for powder metallurgy processes would eventually drive the metal powder market. Advancement in technology and economies of scale process have enabled use of aluminum in a wide range of applications and lowered the production cost.
Growing demand for metal powder in emerging economies such as China is expected to drive the metal powder market. Emerging countries such as China, India, Brazil, and countries in Southeast Asia are witnessing change in consumer preferences.
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The global metal powder market is marked with intense competition due to the presence of a large number of both, big and small firms. Mergers and acquisitions, investments, and expansions are the key strategies adopted by market players to ensure their growth in the market. Companies such as Sandvik AB (Sweden), Carpenter Technology Corporation (U.S.), Hoganas AB (Sweden), GKN Plc. (U.K.), Rio Tinto (U.K.), and Allegheny Technologies Incorporated (U.S.) are some of the prominent companies in the metal powder market.
The market for metal powder is observed to be matured in developing economies such as Europe and North America. The reason behind this is the high disposable income. The Asia-Pacific region is projected to be the fastest-growing market with the highest CAGR of 5.01% during the forecast period. North America accounted for the largest market a share of 40.4% in 2014. The global market for metal powder is projected to grow at a CAGR of 3.80% from 2015 to 2020 and is projected to reach USD 4,062.2 Million by 2020.
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