26-Feb-2020 | Facts and Factors
Facts and Factors have authored “Steel Powder Market By Type (Atomization, Reduction, and Others) and By Application (Automobile, Machinery, Aerospace, Chemical Industry, and Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026”. Based on our analysis, the global steel powder market in 2019 is approximately USD 4300 Million and is anticipated to reach around USD 5700 Million by 2026. The anticipated CAGR for the steel powder market is around 3.5% from 2020 to 2026.
The steel powder is a fine metal powder with particle size varying from 20 µm to 200 µm. The steel powder is obtained by the atomization, and reduction process. The application of the steel powder changes as per the particle size. The 3D printing market is estimated to create a significant opportunity for steel powder in the forthcoming time.
Browse the full “Steel Powder Market Size, Share, Growth Analysis Report By Type (Atomization, Reduction, and Others) and By Application (Automobile, Machinery, Aerospace, Chemical Industry, and Others): Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data, and Forecast 2020 – 2026" report at https://www.fnfresearch.com/steel-powder-market-by-type-atomization-reduction-and-565
The rising demand for the manufacturing of complex parts is projected to drive the steel powder market. Also, rising demand in the end-use industries owing to technological advancement is also expected to propel the steel powder market. However, steel powder costs more than carrying out forging and casting operations which are predicated to impact the buying decision of the industries.
Segmental Overview:
According to the type, the market is bifurcated into atomization, reduction, and others. The steel powder can be manufactured by using this method. It is expected that reduced powder is projected to have augmented demand owing to the use of steel powder in the chemical laboratory as the reducing agent, in flame cutting due to its high flammable properties, and sintering of machined components. Atomized steel powder is also estimated to have rapid growth owing to the use of atomized steel powder in powder metallurgy.
Moreover, according to the application, the market is bifurcated into the automobile, machinery, aerospace, chemical industry, and others. The automobile market is estimated to have significant demand as electric vehicles are expected to replace traditional fuel-powered vehicles within the next decade due to stringent regulations by the leading governments.
Regional Overview:
Additionally, according to region market is segmented as North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific region. The North American region is estimated to have a larger share in the forecasted period owing to demand from the automotive industry. The U.S. sold around 17 million vehicles in the financial year of 2018.
Also, alliances and mergers happening between Ford and Volkswagon, Honda and General Motors, and Toyota and Mazda Motors are projected to spur the market of the automotive industry. Steel powder is used in the automotive industry for the manufacturing of powder metallurgy components. The Asia Pacific region is expected to grow at a rapid rate in the forecasted time, owing to the consumption power of the Asia Pacific region. The Asia Pacific region holds more than half of the population of the world.
Report Scope
| Report Attribute |
Details |
| Market Size in 2019 |
USD 4300 Million |
| Projected Market Size in 2026 |
USD 5700 Million |
| CAGR Growth Rate |
3.5% CAGR |
| Base Year |
2019 |
| Forecast Years |
2020-2026 |
| Key Market Players |
Metal Powder Products, Höganäs, CNPC Powder Material, LaiwuIronandSteel Group, GKN (Hoeganaes), HainingFeida, Rio Tinto, Carpenter Technology, JFE Steel Corporation, JiandeYitong, Wuhan IronandSteel Group, Sandvik, NANOSTEEL, Pellets, Pompton Powder, Daido Steel, Ma Steel, AMETEK, KOBELCO, and others. |
| Key Segment |
By Product Type, Application, and Region |
| Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options |
Request customized purchase options to meet your research needs. Explore purchase options |
Competitive Landscape:
The key players in the market are Metal Powder Products, Höganäs, CNPC Powder Material, LaiwuIronandSteel Group, GKN (Hoeganaes), HainingFeida, Rio Tinto, Carpenter Technology, JFE Steel Corporation, JiandeYitong, Wuhan IronandSteel Group, Sandvik, NANOSTEEL, Pellets, Pompton Powder, Daido Steel, Ma Steel, AMETEK, and KOBELCO.
This report segments the Steel Powder market as follows:
Global Steel Powder Market: By Type
- Atomization
- Reduction
- Others
Global Steel Powder Market: By Application
- Automobile
- Machinery
- Aerospace
- Chemical Industry
- Others
Global Steel Powder Market: By Region
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- The Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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