Market Introduction
The North American region consists of developed economies, including the U.S. and Canada, as well as Mexico, as a developing nation. In this region, the United States is a major market for atomizing metal powder, followed by Canada and Mexico. The atomizing metal powder market in the region is anticipated to be driven by the rising demand from end-use sectors and technological advancements. Besides, the growth of economy plays a vital role in bolstering the demand for atomizing metal powder in the North American market. The growing demand for powder metallurgy-produced components is also expected to drive the growth of the atomizing metal powder market. Also, the rising demand for atomizing metal powder from various end-use industries, especially the automotive, electronics, aerospace & defense sector is further predicted to drive the market growth. For instance, Kymera International offers air atomized copper powder which finds applications such as friction for brake pads in automobiles, bi-metallic bearings for automotive, brazing, porous metal filtration, PM parts, thermal spray coatings, synthetic industrial diamond manufacturing, and others. 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.
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.
Market Overview and Dynamics
The North America atomizing metal powder market is expected to grow from US$ 102.12 million in 2021 to US$ 131.99 million by 2028; it is estimated to grow at a CAGR of 3.7% from 2021 to 2028. Additive manufacturing is one of the most important application fields of atomizing metal powders. Currently, many start-up companies are focusing on metal powder production and alloy development for additive manufacturing. These companies are making efforts to fundraise, innovate, and redefine the industry status quo. The start-ups have a unique value proposition and a sophisticated approach to value chain positioning. A few start-ups are focusing on additive manufacturing-processable alloy development to expand the limited options in additive manufacturing. Start-ups are stronger indicators for developing technological trends and recognizing tomorrow’s mainstream market prospect in quickly rising technology industries, such as additive manufacturing. Players operating in the market are focusing on additive manufacturing-specific metal powders. Sandvik AB is increasing its focus on materials for additive manufacturing, especially nickel-based alloys. The company delivers very low oxygen and nitrogen powders ideal for the energy sectors, which provides exceptionally high mechanical properties for hot isostatic pressing and additive manufacturing. Sandvik AB has also invested in additive manufacturing, including a research and development team working on different metal powders. The company is trying to develop unique types of products, especially additive manufacturing. Thus, increasing additive manufacturing-specific metal powder atomization, coupled with the growing efforts from the market players, offers lucrative growth opportunities for the growth of the North America atomizing metal powder market.
Key Market Segments
In terms of product, the atomizing iron powder segment accounted for the largest share of the North America atomizing metal powder market in 2020. In terms of application, the coating and decorations segment held a larger market share of the North America atomizing metal powder market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America atomizing metal powder market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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 among others.
Reasons to buy report
North America Atomizing Metal Powder Market Segmentation
North America Atomizing Metal Powder Market - By Product
North America Atomizing Metal Powder Market - By Application
North America Atomizing Metal Powder Market - By Country
North America Atomizing Metal Powder Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 102.12 Million |
| Market Size by 2028 | US$ 131.99 Million |
| CAGR (2021 - 2028) | 3.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Atomizing Metal Powder Market is valued at US$ 102.12 Million in 2021, it is projected to reach US$ 131.99 Million by 2028.
As per our report North America Atomizing Metal Powder Market, the market size is valued at US$ 102.12 Million in 2021, projecting it to reach US$ 131.99 Million by 2028. This translates to a CAGR of approximately 3.7% during the forecast period.
The North America Atomizing Metal Powder Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Atomizing Metal Powder Market report:
The North America Atomizing Metal Powder Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Atomizing Metal Powder Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Atomizing Metal Powder Market value chain can benefit from the information contained in a comprehensive market report.
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