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Steel Powder Market Size

Report ID: GMI7578
Published Date: Dec 2023
Report Format: PDF

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Steel Powder Market Size

Steel Powder Market was valued at USD 4.8 billion in 2022 and is estimated to expand at 6.2% CAGR between 2023 and 2032, driven by the increasing demand for lightweight and high-strength materials in automotive and aerospace industries, where steel powder finds extensive use in manufacturing components to reduce weight without compromising on strength.

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Additionally, the rising adoption of powder metallurgy techniques for enhanced material properties, advancements in technology for improved steel powder production methods, and the growing application scope in diverse sectors such as construction, industrial machinery, and electronics further propel the demand for steel powder in the global market.

Steel Powder Market Report Attributes
Report Attribute	Details
Base Year:	2022
Steel Powder Market Size in 2022:	USD 4.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.2%
2032 Value Projection:	USD 8.3 Billion
Historical Data for:	2018 to 2022
No. of Pages:	180
Tables, Charts & Figures:	246
Segments covered:	Particle Size, Type , Production Method , Application and Region
Growth Drivers:	Growing demand for lightweight and high-strength materials in automotive and aerospace industries Advancements in technology for improved steel powder production methods Increased application scope in construction, industrial machinery, and electronics sectors
Pitfalls & Challenges:	Challenges related to achieving consistent quality and purity in steel powder production Environmental concerns and regulations associated with the manufacturing process

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One pitfall in the steel powder market involves challenges associated with ensuring consistent quality and purity throughout the production process, which may impact the reliability and suitability of the final steel powder for various industrial applications.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of steel powder market was worth USD 4.8 billion in 2022 and is estimated to reach USD 8.3 billion by 2032, owing to the increasing demand for lightweight and high-strength materials in automotive and aerospace industries.

The stainless steel powder segment held a dominant market share of around 35% in 2023 and is expected to grow at a lucrative pace by 2032, due to its versatile properties, corrosion resistance, and wide-ranging applications across industries.

U.S. steel powder industry size was reached USD 856.8 million in 2023 and is anticipated to expand at a significant pace from 2023 to 2032, owing to the wide applications in booming sectors like automotive, aerospace, and healthcare.

GKN Powder Metallurgy, Höganäs AB, Sandvik AB, Carpenter Technology Corporation, Rio Tinto Metal Powders, ATI Powder Metals, Voestalpine AG, AMETEK Specialty Metal Products, Praxair Surface Technologies, Kennametal Inc., Metaldyne Performance Group, Erasteel, SLM Solutions Group AG, Miba AG, and LPW Technology Ltd.