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Steel Powder Market Size

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

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Steel Powder Market Size

The global steel powder market was valued at USD 5.2 billion in 2024 and is estimated to grow at a CAGR of over 6.1% from 2025 to 2034.

Steel Powder Market

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Steel powder, a fine form of steel, is used in many industries because it is strong and durable. The automotive and aerospace sectors are driving the demand for steel powder as they need lightweight and strong materials. Using processes like powder metallurgy, steel powder helps make parts that are lighter and stronger, improving fuel efficiency and performance.

Steel Powder Market Report Attributes
Report Attribute	Details
Base Year:	2024
Steel Powder Market Size in 2024:	USD 5.2 Billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	6.1%
2025 – 2034 Value Projection:	USD 9.4 Billion
Historical Data for:	2021 – 2024
No. of Pages:	310
Tables, Charts & Figures:	240
Segments covered:	Particle Size, Type, Production Method, Application
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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New technologies have helped the steel powder industry grow by improving how it is made. Methods like atomization and reduction have made steel powder better in quality and easier to produce. This helps manufacturers meet the strict requirements of industries like aerospace and automotive.

The use of steel powder is also growing in construction, industrial machinery, and electronics. In construction, it helps make strong structures. In industrial machinery, it is used for parts that resist wear and tear. In electronics, its magnetic properties make it useful for items like inductors and transformers. These trends show how new ideas and changing industry needs are helping the global market grow, making it an important material in modern manufacturing.

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.