Overview of the Market
With a compound annual growth rate (CAGR) of 6.5% from 2020 (77.4 million units) to 2023 (93.5 million units), the manufacturing of motor vehicles is increasing globally. During the projected period (2024–2032), the consumption of metal powder is anticipated to be directly impacted by the growth in car production.

The primary factors driving up demand for automobiles are rising spending power and fast population increase. Metallurgy, which aids in the production of several parts such bearings, crankshaft sprockets, camshaft pulleys, and gears, is responsible for the automotive industry’s use of powdered metals. Additionally, structural pieces are manufactured, welded, and cut using powder metallurgy. Furthermore, because they can produce intricate shapes, techniques like metal injection molding and laminate molding are gaining popularity in the automotive sector.

Perspectives on Market Segments
Ferrous and non-ferrous metals are included in the Metal Powder market segmentation based on Metal Type. Over the course of the projected period, the ferrous sector is expected to dominate the market. Steel and iron are examples of ferrous metals. Dental restorations, oil-less bearings, automotive transmission gears, Orthopedic implants, and brake pads for airplanes are just a few of the goods that use them.

The mechanical and chemical methods are included in the Metal Powder market segmentation based on the production method. Due to the method’s greater efficiency and adaptability, the mechanical method segment held the largest market share. It encompasses the spray method, electrolysis, mechanical alloying, milling, and atomization of gas and water.

Automotive, manufacturing, medical, electrical and electronics, and other industries are included in the Metal Powder market segmentation based on end-use industry. Throughout the projection period, the automotive category is anticipated to maintain its dominant market share.

Regional Perspectives
North America, Europe, Asia-Pacific, and the Rest of the World are the regions for which the study offers market information. Over the course of the projected period, the Asia Pacific region is anticipated to have growth rates. This is mostly because China is a manufacturing hub for everything from electrical goods to auto OEMs. Due to the existence of numerous medium- and small-sized enterprises, China produces the most powdered metal in Asia Pacific.

Over the course of the projection period, North America might experience substantial growth. The North American market is anticipated to be driven by the United States’ increasing demand for and use of technologies like additive manufacturing and powder forging. The market will also be driven by the advancement of advanced manufacturing technologies that coincides with rising R&D costs.

Europe accounts for the third-largest metal powder market share due to the increasing demand for automobiles. Furthermore, Europe is a significant hub for passenger car production, which is fueling the expansion of the powdered metal sector.

Key Players
Major Metal Powder market players, including Sandvik AB (Sweden), Carpenter Technology Corporation (U.S.), Hoganas AB (Sweden), and GKN Plc. (U.K.), and others, are attempting to increase market demand by funding R&D initiatives.