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Steel Powder Market Trends

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

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Steel Powder Market Trends

The global steel powder industry is changing due to new technologies and industry shifts. Additive manufacturing (3D printing) is a major trend, using steel powder to make detailed and custom parts, especially in aerospace, medical implants, and car prototyping. Sustainability efforts are also influencing the market, with more recycling in steel powder production to cut waste and reduce environmental harm. Demand for high-alloy and stainless steel powders is growing because they resist corrosion and perform well in industrial and marine uses. Regionally, Asia-Pacific leads in production due to lower costs, while North America and Europe focus on innovation with advanced powder metallurgy research. These trends show the market’s importance in modern manufacturing and material science.

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.