Forecast: Metal-Powder Market Reaching $9.73 Billion By 2028, With AM a Key Driver
July 30, 2021Comments
The global metal powder market size is expected to be valued at $9.73 billion by 2028, with a compounded annual growth rate of 6.5 percent along the way, according to a new study by Polaris Market Research. The report, Metal Powder Market Share, Size, Trends, Industry Analysis Report, By Production Method (Chemical, Mechanical, Physical); By Type (Ferrous, Nonferrous); By Application (Additive Manufacturing, Powder Metallurgy, Metal Injection Molding, Others); By End-Use; By Regions; Segment Forecast, 2021-2028, gives a detailed insight into current market dynamics and provides analysis on future market growth.
Manufacturing companies increasingly are turning toward powder metallurgy for production of tooling and parts. While the ferrous segment accounted for the higher market share in 2020, demand for nonferrous metal powder is expected to increase significantly during the forecast period, according to report researchers. Helping drive overall metal-powder demand, additive manufacturing (AM) is expected to increase during the forecast period.
The Asia-Pacific region dominated the global market in 2020 and is expected to maintain its dominance over the forecast period, according to the report.
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