The Asia-Pacific region is the fastest-growing metal powder market, with the highest CAGR of 5.01%, says a new report. China is estimated to grow faster than any other country because of its strong economic growth along with growing demand from end-user industries and rapid urbanization.
North America accounted for around 40.4% of the total market share in terms of value, followed by the Europe and Asia-Pacific says Metal Powder Market 2015-2020, published by Research and Markets.
Ferrous metal powder accounted for the largest share of 73.6% of metal powder market in 2014, while non-ferrous metal powder is projected to be the fastest-growing segment from 2015 to 2020. Chemical method is projected to be the fastest-growing production segment during the same period, and cold compaction, as a compaction technique, will be the fastest-growing technique from 2015 to 2020.
Transportation & logistics accounted for the largest share of the metal powder market in 2014 due to the rising demand for fuel-efficient vehicles.
This story uses material from Research and Markets, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
