Report : Asia Pacific Atomizing Metal Powder Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Atomizing Iron Powder, Atomizing Copper Powder, Atomizing Steel Powder, Atomizing Aluminium Powder, and Others) and Application (Metallurgy, Coating and Decorations, Electronic Materials, Sintered Parts, Diamond Cutting Tools, Additive Manufacturing, and Others)
Atomizing Aluminium Powder Segment is Expected to be Fastest Growing During Forecast Period for APAC Region
According to a new market research study on “APAC Atomizing Metal Powder Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and Application” is expected to reach US$ 1,010.25 million by 2028 from US$ 619.83 million in 2021. The market is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The report provides trends prevailing in the APAC atomizing metal powder market along with the drivers and restraints pertaining to the market growth. Burgeoning additive manufacturing-specific metal powder atomization and growing importance of standard and customized powders are the major factor driving the growth of the APAC atomizing metal powder market. However, fluctuations in prices of raw material hinders the growth of APAC atomizing metal powder market.
In case of COVID-19, APAC is highly affected specially India. The governments of various APAC economies are taking possible steps to restrict the spread of the virus by announcing country-wide lockdown, which has a direct impact upon the growth of industrial sectors. This may impact the demand for atomizing metal powders. The various end-use sectors such as sintered parts, powder metallurgy, additive manufacturing, etc. have been hit hard by the pandemic, creating an impact on the consumption of atomizing metal powders in the region. The automotive industry is one of the major end-users of metal powders. China leads the automotive industry both in terms of production and consumption. In the automotive industry, consumer demand has declined dramatically. Moreover, the closure of manufacturing plants has declined the sales of metal powders. The growth of atomizing metal powder market has been severely affected by dwindling sales of vehicles amid the COVID-19 pandemic. The pandemic has also caused fluctuations in the prices of raw materials. However, as the logistics industry is resuming its operations, the production of metal powders in the region is increasing gradually. The growing electronics industry will further fuel the adoption of metal powders in post-pandemic times. The market is expected to witness an increase in investment by players to tap the prevailing opportunities as well as cater to expanding demand for atomizing metal powder in post-pandemic times.
The APAC atomizing metal powder market is segmented based on product, application, and country. Based on product, the market is segmented into atomizing iron powder, atomizing copper powder, atomizing steel powder, atomizing aluminium powder, and others. The atomizing iron powder segment dominated the market in 2020 and atomizing aluminium powder segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into metallurgy, coating and decorations, electronic materials, sintered parts, diamond cutting tools, additive manufacturing, and others. The coating and decorations segment dominated the market in 2020 and others segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
Advanced Technology & Materials Co., Ltd; GKN Sinter Metals Engineering GmbH; Höganäs AB; JFE GROUP; KOBE STEEL, LTD.; Kymera International; Makin Metal Powders (UK) Ltd; MITSUI MINING & SMELTING CO., LTD.; m-tec powder GmbH; Pometon S.p.A.; and Sandvik AB are among the leading companies in the APAC atomizing metal powder market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Kobe Steel, Ltd. announced to invest around 1.8 billion yen to enhance the production capacity of its Steel Powder Plant in Takasago, Hyogo Prefecture in western Japan. The manufacturing capacity of steel powder products will rise to 110,000 metric tons per year, from the current 96,000 metric tons per year.
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