The Global Alloy Steel Powder Market was valued at USD 7.8 Billion in 2024 and is projected to reach USD 10.9 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.7% during the forecast period (2024–2030). This robust expansion is fueled by rising demand from the automotive sector for lightweight components, advancements in metal additive manufacturing (3D printing), and increasing adoption of complex powdered metal parts across industrial machinery and consumer goods. The shift toward sustainable manufacturing and near-net-shape production capabilities is further accelerating market growth.

As modern manufacturing transforms toward high-performance, efficient, and precise production methods, the spotlight is on the key material suppliers who are driving innovation in metallurgy and powder production. In this blog, we profile the Top 10 Companies in the Alloy Steel Powder Industry—a mix of established steel giants, specialized powder producers, and technology innovators shaping the future of advanced manufacturing.

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🔟 1. Sandvik AB

Headquarters: Sandviken, Sweden
Key Offering: Osprey® Metal Powders, Low-alloy steel powders, High-alloy steel powders

Sandvik is a global leader in metal powder technology, renowned for its Osprey® gas atomization process that produces high-quality, spherical metal powders. Its alloy steel powders are critical for additive manufacturing, metal injection molding (MIM), and hot isostatic pressing (HIP) applications across aerospace, medical, and automotive industries.

Innovation & Sustainability Initiatives:

• Investment in titanium and specialty alloy powders

• Focus on recycled content and sustainable powder production processes

• R&D in powder characteristics for advanced 3D printing applications

Download FREE Sample Report: Alloy Steel Powder Market – View in Detailed Research Report

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9️⃣ 2. Höganäs AB

Headquarters: Höganäs, Sweden
Key Offering: Astaloy™ Mo, Astaloy™ CrL, Distaloy™ alloy powders

Höganäs is the world’s largest producer of metal powders, with a comprehensive portfolio of iron and alloy steel powders. The company’s products are essential for powder metallurgy (PM) parts used in engines, transmissions, and industrial tools, offering high strength and complex geometries with minimal material waste.

Innovation & Sustainability Initiatives:

• Development of high-performance binder jetting and MIM powders

• Commitment to carbon-neutral operations by 2040

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8️⃣ 3. Rio Tinto Metal Powders

Headquarters: Montreal, Canada
Key Offering: Atomet® steel powders, Custom alloy blends

Rio Tinto is a major global supplier of high-purity iron and steel powders. Its Atomet® products are widely used in the automotive industry for producing durable, high-tolerance components. The company excels in providing consistent quality and technical support for large-scale powder metallurgy applications.

Innovation & Sustainability Initiatives:

• Expansion of production capacity to meet growing automotive demand

• Investment in water atomization technology for improved powder quality

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7️⃣ 4. JFE Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: JIP® Steel Powders, High-compressibility powders

JFE Steel is a leading Japanese producer of high-quality steel powders, serving the Asian automotive and electronics markets. Its JIP® powders are known for excellent compressibility and sintering performance, making them ideal for high-strength, complex-shaped PM parts.

Innovation & Sustainability Initiatives:

• Development of alloys for electromagnetic applications

• Focus on lightweighting solutions for the automotive sector

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6️⃣ 5. Daido Steel Co., Ltd.

Headquarters: Nagoya, Japan
Key Offering: DAP® Steel Powders, Tool steel powders, MIM powders

Daido Steel is a prominent manufacturer of specialty steels and metal powders, with a strong presence in the Asian market. The company’s DAP® powders are used in a wide range of applications, from automotive components to cutting tools and dies, known for their high purity and consistent performance.

Innovation & Sustainability Initiatives:

• Advanced powder production for additive manufacturing

• Collaborations with automotive OEMs on new material development

Download FREE Sample Report: Alloy Steel Powder Market – View in Detailed Research Report

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5️⃣ 6. Carpenter Technology Corporation

Headquarters: Philadelphia, Pennsylvania, USA
Key Offering: Carpenter Additive Powders, Custom 465® stainless, Tool steel powders

Carpenter Technology is a leading producer of specialty alloys, including a growing portfolio of alloy steel powders for additive manufacturing. Its powders are used in critical aerospace, medical, and defense applications where material consistency and performance are paramount.

Innovation & Sustainability Initiatives:

• Proprietary powder atomization technologies

• Focus on supply chain sustainability and material traceability

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4️⃣ 7. GKN Hoeganaes

Headquarters: Cinnaminson, New Jersey, USA
Key Offering: Ancorsteel® alloys, High-density powders

GKN Hoeganaes (now part of Mellcon) is a major North American manufacturer of ferrous metal powders. Its Ancorsteel® products are industry standards for powder metallurgy, offering a range of compositions for various density and strength requirements in automotive and industrial parts.

Innovation & Sustainability Initiatives:

• Development of advanced diffusion-bonded alloys

• Emphasis on energy-efficient production processes

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3️⃣ 8. AMETEK Specialty Metal Products

Headquarters: Eighty Four, Pennsylvania, USA
Key Offering: Fine alloy powders, Custom atomized metals

AMETEK is a diversified manufacturer of electronic instruments and electromechanical devices, with a strong specialty metals division. The company produces high-purity alloy steel powders for demanding applications in aerospace, medical, and energy sectors, often providing customized alloy solutions.

Innovation & Sustainability Initiatives:

• Precision atomization for controlled particle size distribution

• Research in nickel-based superalloy powders

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2️⃣ 9. CRS Holdings, Inc. (a Carpenter Technologies company)

Headquarters: Wyomissing, Pennsylvania, USA
Key Offering: Specialty steel powders, High-performance alloys

CRS Holdings, operating under Carpenter Technology, specializes in premium specialty alloy powders. The company focuses on high-value applications where material properties like corrosion resistance, high-temperature performance, and fatigue strength are critical.

Innovation & Sustainability Initiatives:

• Development of powders for extreme environment applications

• Investment in quality control and material certification processes

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1️⃣ 10. Advanced Powder Products (APP)

Headquarters: Philipsburg, Pennsylvania, USA
Key Offering: MIM feedstock powders, Custom alloy development

Advanced Powder Products is a specialized manufacturer focusing on metal injection molding (MIM) and additive manufacturing powders. The company provides tailored alloy steel powder solutions for medical devices, firearms, and industrial components, with expertise in small-lot, high-precision production.

Innovation & Sustainability Initiatives:

• Pioneering binder formulation technology for MIM

• Custom alloy development for specific customer applications

Get Full Report Here: Alloy Steel Powder Market – View in Detailed Research Report

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🌍 Outlook: The Future of Alloy Steel Powder Is Smarter and More Sustainable

The alloy steel powder market is undergoing a significant transformation. While traditional powder metallurgy continues to dominate volume consumption, the industry is rapidly advancing toward additive manufacturing, digital supply chains, and sustainable production methods. The convergence of material science with digital manufacturing technologies is creating new opportunities for complex, lightweight, and high-performance components.

📈 Key Trends Shaping the Market:

• Rapid adoption of metal 3D printing across aerospace, medical, and automotive sectors

• Development of specialized alloy powders for specific application requirements

• Increasing focus on powder recycling and circular economy principles