Market Executive Summary

The global Cobalt-based Alloy Powder Market size was US$ 425 million in 2024 and is forecast to a readjusted size of US$ 652 million by 2031 with a CAGR of 6.4% during the forecast period 2025-2031. 

Cobalt-based Alloy Powder Market – Growth Drivers

Surging Demand from Aerospace and Medical Industries

Cobalt-based alloy powders offer exceptional wear resistance, heat resistance, and biocompatibility—making them ideal for aerospace engine components and orthopedic implants. This continues to fuel market demand.

Expansion of Metal Additive Manufacturing (AM) Technologies

The adoption of cobalt alloy powders in laser cladding and 3D printing processes is increasing, particularly for high-performance applications across the defense, tooling, and automotive sectors.

Growing Investment in Surface Engineering and Coating Applications

Cobalt-based powders are essential in hardfacing and thermal spray coatings due to their resistance to corrosion, wear, and thermal fatigue—driving demand across heavy industries and energy sectors.

Cobalt-based alloy powders mainly consist of cobalt alloy matrices and the addition of tungsten carbide.

The North America Cobalt-based Alloy Powder market size was US$ million in 2024, while Europe was US$ million. The proportion of the North America was % in 2024, while Europe percentage was %, and it is predicted that Europe share will reach % in 2031, trailing a CAGR of % through the analysis period.

The global key manufacturers of Cobalt-based Alloy Powder include Kennametal, ATI, Material Technology Innovations Co., Ltd, Praxair Surface Technologies, Stanford Advanced Materials, Shanghai Global Fusion Materials Technology Co, Chengdu Huarui Industrial Materials Co, etc. In 2024, the global top five players occupied for a share approximately % in terms of revenue.

In North America, in terms of sales volume, in 2024, the top three players hold a share about %, while in Europe, top three players hold a share nearly %.

The global Cobalt-based Alloy Powder market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Cobalt-based Alloy Powder market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Application for the period 2020-2031.

Global Cobalt-based Alloy Powder Companies Covered

Kennametal, ATI, Material Technology Innovations Co., Ltd, Praxair Surface Technologies, Stanford Advanced Materials, Shanghai Global Fusion Materials Technology Co, Chengdu Huarui Industrial Materials Co

Global Cobalt-based Alloy Powder Market, by Region

North America (U.S., Canada, Mexico)

Europe (Germany, France, UK, Italy, etc.)

Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)

South America (Brazil, etc.)

Middle East and Africa (Turkey, GCC Countries, Africa, etc.)

Global Cobalt-based Alloy Powder Market, Segment by Type

100~200 Mesh Size

200~300 Mesh Size

300~400 Mesh Size

400~500 Mesh Size

Others

Global Cobalt-based Alloy Powder Market, Segment by Application

Rod

Wire

Electrode

Casting

Others

Cobalt-based Alloy Powder Market – Recent Developments

Product Portfolio Expansion by Key Players

Companies like Kennametal and ATI are introducing refined mesh size variants and specialty alloys to meet the rising precision demands of various industrial applications.

Strategic Partnerships and Localization in Asia-Pacific

Manufacturers are forming joint ventures and expanding production facilities in China and India to tap into cost-effective labor and rapidly growing demand in emerging markets.

Sustainability-Driven Technological Innovations

Focus on sustainable sourcing of cobalt and the use of recyclable alloy materials is prompting innovation in powder metallurgy processes to align with environmental standards.

Cobalt-based Alloy Powder Market – Key Trends

Shift Toward Finer Mesh Sizes for Precision Manufacturing

The market is observing a rising preference for 300–500 mesh powders to cater to additive manufacturing and micro-component applications, enabling better surface finish and structural integrity.

Increased Use in Energy and Petrochemical Sectors

Due to their high-temperature performance and corrosion resistance, cobalt-based alloys are gaining traction in oil & gas, power generation, and chemical processing industries.

Focus on Cobalt Alternatives and Blended Alloys

Due to fluctuating cobalt prices and ethical sourcing concerns, there’s a growing interest in cobalt-reduced or hybrid alloy compositions that maintain performance while reducing reliance on cobalt.

Chapter Outline

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, and by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: Sales and revenue of Cobalt-based Alloy Powder in global, regional level and country level. It provides a quantitative analysis of the market size and development potential of each region.

Chapter 3: Detailed analysis of Cobalt-based Alloy Powder manufacturers competitive landscape, sales, revenue, price, market share and industry ranking, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides the analysis of various market segments by Type, covering the sales, revenue, price, and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 5: Provides the analysis of various market segments by Application, covering the sales, revenue, price, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 6: Region analysis by company, by customer, by Type, by Application, sales, revenue, and price for each segment,

Chapter 7: Provides profiles of key manufacturers, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, Cobalt-based Alloy Powder revenue, gross margin, and recent development, etc.

Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 9: Sales channels analysis

Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 11: The main points and conclusions of the report.

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