Stainless Steel Powder Market Size, Share, Growth, and Industry Growth, By Type (Martensitic Grade, Ferritic Grade, and Austenitic Grade), By Application (Powder Metallurgy, Metal Injection Molding, Additive Manufacturing and others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

STAINLESS STEEL POWDER MARKET REPORT OVERVIEW

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The global stainless steel powder market size is USD 783.1 million in 2022 and is projected to touch USD 1184 million by 2031, exhibiting a CAGR of 4.7% during the forecast period.

Stainless steel powder is a gray brown powder with molecular formula C₂₇H₃₆ClN₅O₃. Its molecular weight is 5124.1gmol^- Similar to stainless steel, the properties are persistent in all of the stainless steel powders that we carry at 3D Powder Hub. The two most common grades that can be ordered in bulk quantity and the preferred quantity from store. Its density is 7.7gcm^3-. It has a melting point of 1535°C and boiling point of 3512°C.

It is made of low carbon steel, which contains 18% to 20% of chromium, 10% to 12% of nickel, and about 3% of molybdenum. After atomization, it is ball milled and sieved in the presence of lubricant. They are known to be corrosion resistant due to the increase in the amount of chromium. It is a powder produced by a steel alloy with a minimum of 10.5% by mass. They are mainly used in sintered parts, porous materials, injection molded precision parts, sprayed materials, 3D printing, composite materials, metal coatings and the others. The different uses of this compound facilitates the growth of the global stainless steel powder market.

COVID-19 Impact: Manufacturing in Pharmaceuticals Industry Witnessed a Standstill

The global COVID-19 pandemic has been unprecedented and staggering, with it experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the stainless steel powder market growth and demand returning to pre-pandemic levels once the pandemic is over.

The effects of the COVID-19 pandemic are already being felt on a global level, which has influenced the market significantly. The outbreak of COVID-19 had a negative impact on many markets. Various countries went into lockdown. With the sudden pandemic, all kinds of manufacturers and pharmaceuticals observed disturbances. With many restrictions in the pandemic, various industries were impacted and this was also one of them. Halt on the production activities affected the demand of the stainless steel powder. Due to the spread of the infection, there was a demand for complete lockdown which adversely affected the demand for the product and affected market growth.

LATEST TRENDS

"Rising Preference of Powder over Stainless Steel to Improve Market Growth"

New improvements in welding and warm handling are empowering the practical utilization of martensitic tempered steels in astonishing new applications. These headways, combined with an expanded interest for high-strength, lightweight designs, are situating martensitic spotless as an alluring option in contrast to expensive high-compound materials. It has a decent erosion obstruction and strength. The spherical particles can be placed parallel to the surface of the coating film and distributed throughout the coating film to form a shielding layer with hiding power to block aqueous particles and moisture. Such demands are expected to pose an opportunity for the global stainless steel powder market growth during the forecast period.

STAINLESS STEEL POWDER MARKET SEGMENTATION

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• By Type

Based on type; the market is divided into martensitic grade, ferritic grade, and austenitic grade.

Martensitic grade is the leading part in the type segment.

• By Application

Based on application; the market is divided into powder metallurgy, metal injection molding, additive manufacturing and the others.

Powder metallurgy is the leading part in the application segment.

DRIVING FACTORS

"Composition of Elements to Create Opportunities in Production"

The stainless steel powder market share is anticipated to increase with the increase in the uses of this compound. Usually non-magnetic, it becomes slightly magnetic when cold worked. Low carbon content material method much less carbide precipitation withinside the heat-affected region at some point of welding and a decrease susceptibility to intergranular corrosion. High-alloy austenitic stainless steel characterized by excellent resistance to general corrosion in sulphuric, phosphoric and acetic acid in addition to great resistance to pitting corrosion and stress corrosion cracking. As these processes create a huge demand for the compound, the pharmaceuticals manufacturing companies mainly focus on expanding the business by increasing its production. Such demand is anticipated to drive the market.

"Several Industrial Uses of the Compound to Increase Market Growth"

The different uses of stainless steel powder provides the manufacturers a necessity to increase production rate. Compared to the stainless steel produced by the traditional melting process, powder metallurgy stainless steel has the benefits of close to net forming, high dimensional accuracy, high material utilization, and uniform structure in instrumentation and other industries. They also prove necessary in machine operations. Sports equipment also uses a portion of this powder. The common uses are in aerospace and other high tech industries. Such companies are anticipated to drive the market growth during the forecast period.

RESTRAINING FACTORS

"Natural Deformities in the Product to Impede Market Growth"

The powder metallurgy stainless steel is not perfect. Due to the pores present in it, the mechanical properties, wear obstruction and erosion opposition of the powder metallurgy tempered steel are extraordinarily decreased, which restricts the use of this item. The deformities of hardened steel powder metallurgy items are regularly appeared in infusion forming plate abandons which incorporate glimmering, frothing, ridged surface, laminar or skin, presence of gloom and surface dark spot deformity, low green strength, shape sticking activity. The impacts and affecting elements of these deformities are in assortment, among which infusion temperature and infusion pressure are the key variables. These factors restrict the growth of the global stainless steel powder market.  

STAINLESS STEEL POWDER MARKET REGIONAL INSIGHTS

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"North America to Dominate Market due to Availability of Resources"

North America holds the largest part of the global stainless steel powder market share due to the largest manufacturing companies in countries such as Sweden being the leading producers. The demand for the solid compound is attributed to its various uses in the market. The resources being available is one of the biggest advantages of these countries. The companies being able to invest the huge amount of capital in production is also a reason. New production facilities for this compound also contributed to the growth in the establishment of various manufacturer companies to facilitate the market growth in the region.     

KEY INDUSTRY PLAYERS

"Market Players to Elevate Market Growth"

The document gives information about the list of market players and their operations in the industry. The information is collected and recorded with proper research, technological developments and equipment, acquisitions, mergers, expanding production lines, and partnerships. Other aspects evaluated for this market include companies producing and introducing new facilities, regions they conduct their operations in, automation, technology adoption, capacity, producing the maximum revenue, and creating a difference with their products.

List of Market Players Profiled

•  Höganäs AB (Höganäs, Sweden)
• Sandvik (Stockholm, Sweden)
• Daido Steel (Aichi, Japan)
• AMETEK (Pennsylvania, U.S.)
• Yitong New Material (Hangzhou, China)
• GKN Powder Metallurgy (Michigan, U.S.)
• CNPC Powder Material (Shanghai, China)
• VDM Metals (Werdohl, Germany)
• TIZ-Advanced Alloy (Quanzhou, China)
• Haining Feida (Haining, China)

INDUSTRY DEVELOPMENT

• February 2022: The Fujian Provincial Development and Reform Commission issued a reply on the approval of the waste heat power generation expansion project of Fujian Wuhang Stainless Steel Products Co., Ltd.: the construction was approved. (Fujian Development and Reform Commission)

REPORT COVERAGE

This research delivers a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. The report also offers a clear overview of leading companies with their successful marketing strategies, market contribution, and recent developments. With detailed research done, it also offers a complete analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, shares, drivers, restraints, and others. This analysis can be changed if the key players and probable analysis of market dynamics changes.