Market revenue in 2020 | USD 285.7 million |
Market revenue in 2027 | USD 517.0 million |
Growth rate | 8.8% (CAGR from 2020 to 2027) |
Largest segment | Press & sinter |
Fastest growing segment | Additive Manufacturing |
Historical data covered | 2016 - 2019 |
Base year for estimation | 2020 |
Forecast period covered | 2021 - 2027 |
Quantitative units | Revenue in USD million |
Market segmentation | Press & Sinter, Metal Injection Molding, Additive Manufacturing |
Key market players worldwide | Flywheel Advanced Technology Inc, Hoganas, MP Materials Corp Ordinary Shares - Class A, Rio Tinto PLC ADR, RUSAL, Sandvik AB |
Press & sinter was the largest segment with a revenue share of 45.05% in 2020. Horizon Databook has segmented the Latin America metal powder market based on press & sinter, metal injection molding, additive manufacturing covering the revenue growth of each sub-segment from 2016 to 2027.
Latin America metal powder market is expected to be driven by the favorable government regulations for additive manufacturing. For instance, recently, Brazil government has announced a series of tax exemptions for accessories, consumables, and printers in additive manufacturing industry, making the additive manufacturing process less expensive and opening new avenues for the market vendors.
Growing industrial output and technological developments have created a positive impact on the manufacturing sector in the region. Moreover, end-use industries have started adopting new technologies in their traditional manufacturing processes. The need for low-cost product development and operational efficiency is projected to increase the adoption of metal powder parts.
Automotive industry in LA is offering numerous opportunities to additive manufacturing vendors in the market. As numerous auto parts production and assembly companies are migrating to countries outside traditional markets such as Brazil and Mexico.
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