Copper Powder Market Insights and Industry Analysis by Type (< 100 Mesh, 100 - 200 Mesh, 200 - 300 Mesh, 300 - 400 Mesh, and > 400 Mesh), Process (Atomization, Electrolysis, Hydrometallurgy, and Solid-State Reduction), End-use (Metallurgy, Chemical, Electronics, Additive Manufacturing, and Others) and Region, Competitive Market Size, Share, Trends, and Forecast till 2030
New York, US, June 30, 2021 (GLOBE NEWSWIRE) -- Copper Powder Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Copper Powder Market Information by Type, Process, End-use, and Region - Forecast till 2030”, the market is forecasted to reach USD 941.52 Million by 2030 at of 4.22% CAGR.
The global market is being driven by the growing demand for powder metallurgy in the automotive industry and the diverse applications of atomized copper powders in the surface coating process. Additionally, demand for advanced surface coating technologies has been increasing steadily in key end-use industries such as aerospace, steel, oil and gas, and power generation. Copper powder is a necessary component of these technologies, and demand is expected to grow in the near future. Additionally, copper powder is sometimes used as a biocide in marine paints. Thus, the versatility of copper powder is a significant demand factor. Copper powder demand is being fueled by factors such as increased demand in the electrical and electronics industries and industrial machinery manufacturing. Additionally, it is a favored metal powder for rapid prototyping and powder metallurgy applications.
However, price fluctuations in copper ore, the primary raw material, are expected to be a significant factor impeding demand development. However, the robust demand for copper powder in 3D printing applications is expected to accelerate the global copper powder market's growth in the coming years.
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Numerous national, regional, and local vendors are present in the global copper powder market. The market is extremely fragmented, with all players focusing on expanding their market scope. Market participants' growth is determined by market dynamics, government regulations, and business development. As a result, players should prioritize expanding production capacity to meet demand and improving their services. These companies are primarily focused on developing customized product offerings, especially for the metallurgy and electronics industries.
The players in the global copper powder market are pursuing a variety of strategies to retain their positions and expand their regional reach, including growth, mergers and acquisitions, partnerships, joint ventures, and expansion. Expansion was the most frequently used growth tactic by several industry players in order to maximize market share.
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The global copper powder market has been segmented by type, process, end-use, and region.
Based on type, the global copper powder market has been segmented into <100 Mesh, 100-200 Mesh, 200-300 mesh, 300-400 mesh, and >400 mesh. Due to its low cost and wide availability, the <100 Mesh has the largest market share of around 30% and is projected to grow at a CAGR of around 3.5 percent between 2019 and 2030. During the forecast period, however, the 300-400 mesh segment is projected to have the highest CAGR of about 5 percent.
The global market has been divided into four categories based on process: atomization, electrolysis, hydrometallurgy, and solid-state reduction. The atomization segment had the largest market share of about 70% in 2019 and is expected to grow at a CAGR of over 4% over the forecast period. In 2019, the electrolysis segment is the second-largest, accounting for around 13% of the market.
The global market has been divided into metallurgy, chemical, electronics, additive manufacturing, and others based on end-use. The metallurgy segment held the largest market share of more than 40% in 2019 and is expected to develop at a healthy CAGR of 4% over the forecast period. The increased use of powder metallurgy in a variety of end-use applications is responsible for this segment's development. During the forecast period, however, the electronics segment is expected to have the highest CAGR of around 5%.
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Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa are the region analyzed for the sake of research.
Due to the presence of large-scale manufacturing hubs, especially in China and Japan, the Asia-Pacific market accounts for around 40% of the global copper powder market in 2019. Furthermore, the Copper Powder market in the area is expected to grow due to its proximity to raw materials, dynamic economies, and emerging industrial countries. The Asia-Pacific market was estimated to be worth around USD 300 million and is projected to develop at a rate of over 4% over the forecast period. A key factor driving demand for copper & copper alloy powder in Asia Pacific is the rise in demand for the powder in several industries such as automotive, machinery manufacturing, and electrical & electronics.
Due to the growth of manufacturing companies in many industries such as real estate, aviation, automotive, and others, Europe was the second-largest market in the global copper powder market in 2019, with a market share of about 30%. Increased use of copper powder in energy applications such as wind turbines, wires and cables, electrical motors, and HVAC, as well as the promising growth of major economies such as Germany, France, and the United Kingdom, are expected to drive the Copper Powder market in the area over the forecast period. During the forecast period, the demand in Europe is projected to grow at a CAGR of 4% to cross over USD 250 million by the end of 2030.
North America accounts for roughly 15% of global market share and is projected to grow at a CAGR of about 5%. The developed construction industry, as well as the increasing output of electrical parts, are primarily responsible for the region's development. In 2019, the North American market was worth around USD 100 million, and it is projected to grow to around USD 150 million over the next few years. Over the forecast era, the Copper Powder market in Latin America, the Middle East, and Africa has seen significant development. This expansion is due to the expanding automotive industry in Latin America, particularly in Mexico, as well as the expanding electrical and electronics industry, particularly in Brazil.
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