Steel Powder Market Size & Share, By Production Method (Reduction Method, Atomization, Electrolysis), Particle Size (Fine Steel Powder, Coarse Steel Powder), Type (Stainless Steel Powder, Alloy Steel Powder, Carbon Steel Powder), Application, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Steel Powder Market surpassed USD 5.12 Billion in 2023 and is likely to exceed USD 8.87 Billion by end of the year 2032, witnessing more than 6.3% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 5.12 Billion
• CAGR (2024-2032): 6.3%
• Forecast Year Value (2032): USD 8.87 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

Rising demand for steel powder in various end-use industries such as automotive, aerospace, and construction is expected to drive market growth. The increasing adoption of additive manufacturing technology in the production of complex components is also boosting the demand for steel powder. Additionally, the growing focus on reducing carbon footprint and energy consumption is driving the shift towards lightweight and durable materials like steel powder.

Report Scope

Report Coverage	Details
Segments Covered	Particle Size, Type , Production Method , Application
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	GKN Powder Metallurgy, Höganäs AB, Sandvik AB, Carpenter Technology, Rio Tinto Metal Powders, ATI Powder Metals, Voestalpine AG, AMETEK Specialty Metal Products, Praxair Surface Technologies, Kennametal, Metaldyne Performance Group, Erasteel, SLM Solutions Group AG, Miba AG, LPW Technology.,

Industry Restraints:

High cost of production and limited availability of raw materials are major restraints for the steel powder market. The fluctuations in steel prices and stringent regulations related to the manufacturing processes are also hindering the market growth.

Regional Forecast:

North America:

The steel powder market in North America is expected to witness steady growth due to the presence of established industries and infrastructures in countries like the U.S. and Canada. The growing demand for steel powder in automotive, aerospace, and construction sectors is driving the market growth in this region. Additionally, the increasing focus on research and development activities to improve the quality of steel powder is further contributing to the market expansion in North America.

2. Asia Pacific:

In Asia Pacific, countries like China, Japan, and South Korea are the major contributors to the steel powder market. The burgeoning automotive and manufacturing industries in these countries are propelling the demand for steel powder. Moreover, the presence of key steel powder manufacturers and suppliers in Asia Pacific is boosting the market growth in the region. The increasing investments in infrastructural development projects are also expected to drive the demand for steel powder in the coming years.

3. Europe:

Europe, particularly countries like the United Kingdom, Germany, and France, is witnessing significant growth in the steel powder market. The region's robust manufacturing sector, coupled with the rising demand for lightweight materials in automotive and aerospace industries, is fueling the market growth. Additionally, stringent regulations pertaining to emissions and fuel efficiency are driving the adoption of steel powder in various applications. The increasing focus on sustainable practices and technological advancements is expected to further propel the market expansion in Europe.

Segmentation Analysis:

In terms of segmentation, the global Steel Powder market is analyzed on the basis of Particle Size, Type , Production Method , Application.

Production Method:

Reduction Method: The reduction method segment in the steel powder market involves the reduction of iron oxide or iron ore in the presence of a reducing agent. This method is widely used for producing steel powder due to its cost-effectiveness and efficiency.

Atomization: Atomization is another production method segment in the steel powder market, where molten steel is atomized into small droplets which solidify into fine steel powder particles. This method results in high-quality steel powder with consistent particle size distribution.

Electrolysis: Electrolysis is a less common production method in the steel powder market, where steel powder is produced through the electrolysis of steel ions in a suitable electrolyte solution. This method is known for producing high-purity steel powder for specialized applications.

Particle Size:

Fine Steel Powder: The fine steel powder segment in the market consists of steel powder particles with a smaller particle size range, typically below 100 microns. Fine steel powder is preferred for applications requiring high surface area to mass ratios and uniform mixing capabilities.

Coarse Steel Powder: Coarse steel powder, on the other hand, consists of steel powder particles with a larger particle size range, typically above 100 microns. Coarse steel powder is often used in applications where strength and density are critical factors.

Type:

Stainless Steel Powder: The stainless steel powder segment in the market includes steel powder derived from stainless steel compositions, known for their corrosion resistance and high-temperature properties. Stainless steel powder finds applications in industries such as aerospace, automotive, and medical devices.

Alloy Steel Powder: Alloy steel powder is another segment in the market that consists of steel powder produced from alloyed steel compositions. This type of steel powder is customized to meet specific mechanical and chemical properties required for particular applications.

Carbon Steel Powder: Carbon steel powder segment includes steel powder derived from carbon steel compositions, known for their strength and hardness properties. Carbon steel powder is widely used in industries such as construction, machinery, and infrastructure development.

Application:

The steel powder market finds applications in various industries such as automotive, aerospace, construction, electronics, and energy. Steel powder is utilized in the manufacturing of components for engines, transmissions, bearings, gears, and structural parts. Additionally, steel powder is used in additive manufacturing, metal injection molding, and surface coating applications due to its versatility and cost-effectiveness.

Competitive Landscape:

The competitive landscape in the Steel Powder Market is characterized by a diverse array of players ranging from large multinational corporations to specialized regional firms. Key factors driving competition include technological advancements in powder metallurgy, increasing demand for lightweight materials in various industries, and a growing emphasis on sustainability and recycling. Companies in this sector are focusing on innovations in production techniques, enhancing the physical and mechanical properties of steel powders, and expanding their product portfolios to cater to the unique requirements of end-users such as automotive, aerospace, and construction. Strategic partnerships, mergers, and acquisitions are also prevalent as companies seek to enhance their market presence and leverage complementary capabilities.

Top Market Players

- Höganäs AB

- GKN Powder Metallurgy

- Linde AG

- Cartech Inc.

- PB Clad

- Makin Metal Powders (UK) Ltd

- ¾Böhler Edelstahl GmbH & Co KG

- Praxair Technologies, Inc.

- Advanced Powder Products, LLC

- Dowa Metaltech Co., Ltd.