Atomizing Metal Powder Market Analysis, Growth, COVID-19 Overview, Demand and Industry Forecast 2023
Atomizing Metal Powder Market Highlights
The atomizing metal powder market is projected to register a
healthy CAGR of 6.91% to reach a market value of USD 4,134.97 million by
the end of 2026.
The prominent factor favoring the growth of the
global atomizing metal powder market is the increasing adoption of powder
metallurgy in the automotive industry coupled with the high demand for metal
powders in the metallurgy industry. Powder metallurgy is a green and
energy-saving technology with zero waste and complete recycling, offering
improved performance and greater design flexibility for automobile components.
With the rising pressure on automobile manufacturers for enhancing the
performance and safety while maintaining the vehicle's weight, the demand for
powder metallurgy is increasing and thus atomized metal powders.
The other key factor driving the market growth is the widespread
use of atomized metal powders in surface coating applications in a variety of
industries ranging from aerospace, oil & gas, and power generation to
steel, mining, construction, and agriculture. In the aerospace and power
industries, atomized metal powders are mainly used in wear-resistant coatings
of rotating parts such as industrial gas turbines or combustion engines. This
is mainly due to the high resistance offered by metal powders to high temperatures,
thermal cycling, and hot gas corrosion. The growth of the aerospace industry
due to increasing passenger traffic is expected to play a vital role in the
growth of the global market. The steel industry is the other major consumer
wherein metal powders offer vast potentials to improve operation and
efficiencies by cladding components with surface welding or spray coatings.
However, fluctuating prices of iron as a raw material is expected
to be a key factor hampering the market growth in the years to follow.
Nevertheless, the increasing use of powdered metals in additive
manufacturing process/technology is expected to provide an impetus to the
growth of the market in the years to follow and is expected to create lucrative
opportunities for the market players during the review period.
Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/atomizing-metal-powder-market-8521
Atomizing Metal Powder Market
MRFR recognizes the following companies as the key players of
the atomizing
metal powder industry segments Sandvik AB
(Sweden), Höganäs AB (Sweden), Kymera International (US), Hangzhou Yitong New
Material Co., Ltd (China), Kobe Steel Ltd (Japan), JFE Steel Corporation
(Japan), 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), SAFINA a.s. (Czech Republic), and Pometon S.p.A.
(Italy).
Atomizing Metal Powder Market Regional Analysis
The global COVID-19 analysis on atomizing
metal powder market has been segmented
into five key regions, namely Asia-Pacific, North America, Europe, the Middle
East & Africa, and Latin America. The North American market was the
dominant regional market in 2018 with a market share of around 40% in 2018 and is
expected to register a CAGR of over 7% during the forecast period. The growth
of the regional market is primarily driven by the technological advancements in
PM parts manufacturing such as hot isostatic pressing, metal injection molding,
and additive manufacturing.
The regional market in Asia-Pacific is expected to be the
fastest-growing, registering a CAGR of 7.58% during the assessment period. The
country-level markets in China, Japan, and South Korea are the key consumers of
atomizing metal powder in the region. The fast-growing automotive and aerospace
& defense industries in the region and the expanding manufacturing base are
expected to be the prominent driving factors of the regional market growth in
the years to follow.
Read more reports at: https://www.marketresearchfuture.com/categories/chemicals-market-report
Read more details at: https://www.marketresearchfuture.com/infographics
Read more details at: https://www.marketresearchfuture.com/videos
NOTE: Our team of researchers are studying Covid19 and its impact
on various industry verticals and wherever required we will be considering
covid19 footprints for a better analysis of market and industries. Cordially
get in touch for more details.
About Market Research Future
At Market
Research Future (MRFR), we enable our customers to unravel
the complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality
market research and intelligence services to our clients. Our market research
studies by products, services, technologies, applications, end users, and
market players for global, regional, and country level market segments, enable
our clients to see more, know more, and do more, which help to answer all their
most important questions.
Contact
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Comments
Post a Comment