Market Introduction
The market for the Europe region includes Germany, France, Italy, the UK, Russia, and the rest of Europe. Economically strong countries such as the UK, Italy, Germany, and Russia have been witnessing significant growth in the atomizing metal powder market. The growth of this market is attributable to the growth in aerospace and automotive industries. A substantial financial investment is made in R&D for the aerospace industry, which is anticipated to boost the atomizing metal powder market. Besides, the European atomizing metal powder market is growing due to a robust automotive base. The rising demand for high-performance vehicles in Europe is anticipated to fuel the atomizing metal powder market. The growth of the automotive sector coupled with the surging demand for lightweight and high-strength components is predicted to bolster the use of atomizing metal powder in automotive components such as chassis and engine. Further, the demand for advanced surface coating technologies is continually progressing in major end-use industries such as steel, aerospace, oil & gas, and power. Atomizing metal powder is also utilized in the metallurgy sector in the manufacture of several products and coating applications. Moreover, according to European Commission, the construction sector is crucial to the EU economy. The industry provides 18 million direct jobs and contributes to about 9% of the region's GDP. Thus, the surge in application of atomizing metal powder in diamond tools, welding, 3D printing, and others coupled with the growth in the construction sector are anticipated to create demand for atomizing metal powder in Europe.
In case of COVID-19, Europe is highly affected specially France and Russia. The region is estimated to suffer an economic hit due to the lack of revenue from various industries subjected to disruption in the supply chain. As of October 6, 2021, the total number of confirmed cases in Europe are 71,084,302. The massive outbreak of the pandemic has created a temporary distortion in operation efficiencies of industrial bases in the European market. The market for atomizing metal powder has been negatively impacted due to limited operational capabilities due to COVID-19 restrictions. The COVID-19 pandemic has forced many atomizing metals powder manufacturers to cut output due to a shortage of raw materials. However, the various industries are resuming their operations, including the automotive industry. The increasing usage of automobile vehicles, in turn, will create demand for atomizing metal powders in transport and logistics. Rising demand for atomizing metal powder across diverse industrial applications is expected to substantially promote the demand for atomizing metal powder in the regional market.
Market Overview and Dynamics
The Europe atomizing metal powder market is expected to grow from US$ 115.66 million in 2021 to US$ 159.36 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028. Atomization is the most common method for producing metal powders. A variety of industrial and research approaches are included in the general types of atomization procedures. There are numerous processes in producing atomized powders, each subjecting to a metal powder to different processing regimes. As a result, it becomes very crucial to match powder properties to a specific application or equipment. Moreover, there is an increasing emphasis on atomizing equipment to produce dedicated additive manufacturing powders to meet customer requirements around morphology, purity, and particle size distribution. Many manufacturers in the market also focus on offering standard and custom metal powders that deliver qualities, which meet the needs of customers for specific applications. Thus, growing importance of standard and customized powders for specific application will provide more growth opportunities for the Europe market growth.
Key Market Segments
In terms of product, the atomizing iron powder segment accounted for the largest share of the Europe atomizing metal powder market in 2020. In terms of application, the coating and decorations segment held a larger market share of the Europe 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 Europe 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.; m-tec powder GmbH; Pometon S.p.A.; and Sandvik AB among others.
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Europe Atomizing Metal Powder Market Segmentation
Europe Atomizing Metal Powder Market - By Product
Europe Atomizing Metal Powder Market - By Application
Europe Atomizing Metal Powder Market - By Country
Europe Atomizing Metal Powder Market - Company Profiles