The report provides a thorough analysis of the cobalt alloy powder market, covering key aspects such as sales estimates, industry size and share, and major drivers. It highlights the sector’s expected significant growth during the forecast period. In addition, the report presents detailed statistics on the drivers, restraints, and opportunities that directly impact the market.    

A report published by Allied Market Research on the cobalt alloy powder market states that the industry is expected to cite an impressive CAGR of 6.7% with a revenue of $490.9 million during the forecast period of 2021 to 2030. The sector is witnessing growth due to surge in demand for coating materials in the automotive industry, high demand for cobalt in the tooling industry, and rapid progress in 3D printing. However, the hazardous effects of cobalt dust on the environment and health restrain the industry’s expansion to some extent. Nevertheless, rapid advancement in the manufacturing processes is estimated to offer remunerative opportunities for growth of the market in the future.