What is Global Stainless Steel Powder Market?
The Global Stainless Steel Powder Market is a vast and dynamic sector that encompasses the production, distribution, and use of stainless steel powder worldwide. This market is characterized by its diverse range of applications, from metallurgy and manufacturing to additive production and more. Stainless steel powder, a fine granular form of stainless steel, is produced through various methods such as water atomization and gas atomization. It is highly valued for its corrosion resistance, durability, and versatility, making it a sought-after material in various industries. The global market for this product is influenced by several factors, including technological advancements, demand from end-use industries, and economic conditions in different regions.
Martensitic Grade, Ferritic Grade, Austenitic Grade in the Global Stainless Steel Powder Market:
The Global Stainless Steel Powder Market is segmented into different grades, namely Martensitic Grade, Ferritic Grade, and Austenitic Grade. Martensitic Grade stainless steel powder is known for its high hardness and moderate corrosion resistance. It is often used in applications that require a combination of wear resistance and good corrosion resistance. Ferritic Grade, on the other hand, is characterized by its magnetic properties and resistance to stress corrosion cracking. It is commonly used in automotive applications, among others. Lastly, Austenitic Grade is the most widely used type of stainless steel powder. It is known for its excellent formability and weldability, as well as its resistance to corrosion. Each of these grades has its unique properties and applications, contributing to the diversity and versatility of the stainless steel powder market.
Powder Metallurgy, Metal Injection Molding, Additive Manufacturing, Others in the Global Stainless Steel Powder Market:
The Global Stainless Steel Powder Market finds its usage in various areas such as Powder Metallurgy, Metal Injection Molding, Additive Manufacturing, and others. In Powder Metallurgy, stainless steel powder is used to produce parts and components for various industries, including automotive, aerospace, and electronics. Metal Injection Molding, on the other hand, uses stainless steel powder to create complex shapes and designs that are difficult to achieve with traditional manufacturing methods. Additive Manufacturing, also known as 3D printing, uses stainless steel powder to create objects layer by layer, allowing for the production of intricate designs and rapid prototyping. Other applications of stainless steel powder include surface coating, welding, and brazing, among others. Each of these applications contributes to the growth and development of the global stainless steel powder market.
Global Stainless Steel Powder Market Outlook:
The Global Stainless Steel Powder Market is a thriving sector with promising growth prospects. In 2022, the market was valued at US$ 745.1 million and is projected to reach US$ 1031.6 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 4.7% during the forecast period from 2023 to 2029. Höganäs, the world's largest manufacturer of stainless steel powder, holds approximately 12% of the market shares. Furthermore, the Austenitic Grade of stainless steel powder has a significant market share of 37%. These figures underscore the robustness and potential of the global stainless steel powder market.
| Report Metric | Details |
| Report Name | Stainless Steel Powder Market |
| Accounted market size in 2023 | US$ 783.1 million |
| Forecasted market size in 2029 | US$ 1031.6 million |
| CAGR | 4.7 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Höganäs, Sandvik, Daido Steel, AMETEK, Yitong New Material, GKN Powder Metallurgy, CNPC Powder Material, VDM Metals, TIZ-Advanced Alloy, Haining Feida |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
