Report : North America Atomizing Metal Powder Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Atomizing Iron APowder, 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 Iron Powder Segment to Dominate North America Atomizing Metal Powder Market During 2021–2028
According to a new market research study on “North America Atomizing Metal Powder Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and Application” is expected to reach US$ 131.99 million by 2028 from US$ 102.12 million in 2021. The market is estimated to grow at a CAGR of 3.7% from 2021 to 2028. The report provides trends prevailing in the North America atomizing metal powder market along with the drivers and restraints pertaining to the market growth. Growing use of powder metallurgy in the automotive industry and rising use of atomizing metal powder in surface coating process are the major factor driving the growth of the North America atomizing metal powder market. However, variation in prices of raw material hinders the growth of North America atomizing metal powder market.
North America, especially the US, has been severely affected by the COVID-19 pandemic. The significant disruption in manufacturing, along with raw material sourcing, has had a negative impact on the demand for atomizing metal powder in the region. The market for atomizing metal powder has been impacted in the region due to distortion in the supply of raw materials and limited operational efficiencies. This has negatively impacted various industries especially, the powder metallurgy industry, as the automotive industry, the primary consumer of powder metallurgy parts, came to a standstill. The powder metallurgy industry in North America has experienced a decline in the production and sales of metal powders, equipment, and parts. Most of the iron powder shipped in the region is used for engine and light trucks parts. However, the market is reviving on account of the government's significant measures, such as vaccination drives. With the state of economic recovery, several industrial sectors are strategically planning to invest in advanced products to maximize revenue. The companies providing equipment for sintering and brazing have experienced a surge in demand for standardized equipment as more mid-sized companies recover from pandemic-related disruptions. Many players are resuming pre-COVID investment plans as businesses gain confidence in stabilizing economies and anticipate increased demand. This is expected to provide the impetus for market growth.
The North America 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 additive manufacturing segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the US, Canada, and Mexico.
GKN Sinter Metals Engineering GmbH; Höganäs AB; JFE GROUP; KOBE STEEL, LTD.; Kymera International; Makin Metal Powders (UK) Ltd; MITSUI MINING & SMELTING CO., LTD.; and Sandvik AB are among the leading companies in the North America 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 2017, Höganäs AB announced the acquisition of Metasphere Technology in Luleå, Sweden, which is a start-up that has produced a new technology for atomizing carbides, metals, and ceramics at very high temperatures.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com