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Steel Powder Market Share

Report ID: GMI7578
Published Date: Dec 2024
Report Format: PDF

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Steel Powder Market Share

Höganäs and Sandvik hold significant shares in the Asia-Pacific market due to the growing demand for steel powder products, especially in China and India. The Asia-Pacific region, the largest steel powder industry globally, is expected to grow further. This growth is driven by rapid economic development, urbanization, and the rising need for lightweight and strong materials in the automotive and aerospace industries. Höganäs and Sandvik, as major producers, are well-prepared to meet this increasing demand in the region.

Steel Powder Market Companies

Major players operating in the steel powder industry are:

AMETEK Specialty Metal Products
ATI Materials
Carpenter Technology
CNPC Powder
Erasteel
GKN Powder Metallurgy
Hoganas
Kennametal
Rio Tinto Metal Powders
Sandvik
Voestalpine

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The global market size for steel powder was valued at USD 5.2 billion in 2024 and is projected to reach USD 9.4 billion by 2034, driven by a CAGR of over 6.1% during the forecast period, supported by rising demand for lightweight and high-strength materials in automotive and aerospace industries.

Stainless steel powder held a 35.4% market share in 2024 and is expected to grow significantly by 2034, driven by its corrosion resistance and extensive use in automotive, aerospace, and construction sectors.

The U.S. market generated USD 906.8 million in 2024, driven by demand from automotive, aerospace, and construction sectors, along with advancements in additive manufacturing and powder metallurgy.

Major players in the industry include AMETEK Specialty Metal Products, ATI Materials, Carpenter Technology, CNPC Powder, Erasteel, GKN Powder Metallurgy, Hoganas, Kennametal, Rio Tinto Metal Powders, Sandvik, and Voestalpine.