Global Cobalt Alloy Powder Market: Overview
Cobalt alloy powder, as the name suggests, is a fine granular and crushed cobalt alloy. Several processes are employed to obtain cobalt alloy powder. One of the prominent methods entails spraying of molten cobalt alloy under very high pressure to obtain fine granular powder. The manufacture of cobalt alloy powder involves a series of processes: melting the alloy; atomizing the melt; filtering the powder; collecting the powder and drying it; grading the dried powder on various parameters; inspection; and packaging for sale. Several grades of cobalt alloy powder can be manufactured, depending on type of atomizing gas used to ‘blow’ the molten cobalt alloy from a nozzle tip. Cobalt alloy powder can be manufactured in a various particle sizes ranging from 5 microns to more than 1000 microns. Several types of cobalt alloys such as CoCr, CoCrMo, and CoCrNi are available, which used for different applications.
Global Cobalt Alloy Powder Market: Drivers & Restrains
Cobalt alloy powder is used in various applications. A substantial amount of cobalt alloy powder is used in additive manufacturing and powder metallurgy. Cobalt alloy powder is employed in the manufacture of various components. This manufacture involves use of several powder metallurgy techniques. Cobalt alloy powder is also used as a filler material in brazing operations. Thus, versatility of powdered cobalt alloy is one of the major drivers for the cobalt alloy powder market. The market is also driven by factors such as rise in the demand in additive manufacturing. Rapid prototyping and 3D printing are also a key driving force for the cobalt alloy powder market. Cobalt alloy powder is also a preferred metal powder of choice in powder metallurgy.
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Global Cobalt Alloy Powder Market: Key Segments
Based on alloy type, the cobalt alloy powder market can be divided into CoCr alloy powder, CoCrMo alloy powder, CoCrNi alloy powder, and others. Each type is manufactured with different cobalt alloys and is used for different applications, as the alloying element induces particular properties in the particular type. Based on type of cobalt alloy powder, the market can be segmented into general alloys, brazing alloys, and thermal spray alloys. Based on application, the cobalt alloy powder market can be segregated into additive manufacturing & 3D printing, brazing, metal injection molding, plasma & thermal spray applications, and others. Each of these applications requires powder of a specific composition and particle size. The thermal spray application segment can be sub-segmented into self-fluxing alloy powder and non-self-fluxing alloy powder. Cobalt alloy powder is substantially applied in applications such as aerospace turbines and land-based turbines.
Global Cobalt Alloy Powder Market: Regional Outlook
In terms of geography, the global cobalt alloy powder market can be divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Asia Pacific is anticipated to be the key market for cobalt alloy powder during the forecast period. Rise in additive manufacturing and growth of several industries such as automotive, aerospace, equipment manufacturing, and building & construction are key factors driving the demand for cobalt alloy powder in Asia Pacific. Rapid development in the fields of additive manufacturing, powder metallurgy, and 3D printing across all regions is driving the demand for cobalt alloy powder across the world, with noticeable growth in Asia Pacific, North America, and Europe.
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Global Cobalt Alloy Powder Market: Key Players
Key players operating in the global cobalt alloy powder market are Sandvik Materials Technology, Umicore – Cobalt & Specialty Materials, CNPC Powder Group Co. Ltd, Metal Powder and Process Ltd., and American Elements.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
Companies in the Cobalt Alloy Powder market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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