Metal Powder Works Targets $5.5B Market With Jet Metals Copper Powder Deal
Metal Powder Works signs copper powder partnership with Jet Metals targeting US press-and-sinter market
Metal Powder Works (ASX: MPW) has signed a Powder Partner Program (PPP) agreement with Jet Metals Inc to evaluate copper alloy powders C10100 and C14500 for the press-and-sinter market. This marks MPW’s first PPP agreement in the Press & Sinter market segment, targeting copper “add-mix” powders blended into iron-based powders to create stronger sintered steel parts.
The partnership follows a reinvigorated focus by MPW’s sales team on the powder metallurgy market segment. Testing is expected to complete within 3-4 months, with successful results anticipated to lead to negotiation of an offtake agreement. At full ramp, commercial supply volumes are targeted at circa 40-60 tonnes per annum.
The agreement provides a technical collaboration framework for joint development, positioning MPW to enter an established market with predictable demand rather than speculative opportunity.
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Understanding copper add-mix in powder metallurgy
Add-mix powders are elemental powders blended into iron or steel-based powder to achieve the final part composition. Copper is the most widely used addition in this process.
The target applications for MPW’s copper powders are high-volume structural components including gears, sprockets, bearing caps, and oil-pump gears. These parts serve the automotive, industrial, and off-highway sectors.
Copper powder availability is currently constrained by supply chain restraints and delays across the industry. MPW’s DirectPowder™ process addresses this constraint because the company already manufactures alloys of interest (C10100 and C14500) and can add capacity and flexibility to the market. This positions MPW as a potential solution to existing supply issues in an established market with consistent demand.
Market opportunity spans USD 5.5 billion powder metallurgy segment
The Press & Sinter market represents a substantial addressable opportunity for MPW. In 2024, this segment accounted for more than 89% of the metal powder market by volume, making it an established market with consistent demand.
The North American market for copper and copper-based powder in the powder metallurgy segment consumed approximately 8,600 tonnes in 2024, according to the Metal Powder Industries Federation (MPIF) State of the PM Industry in North America report.
| Market Segment | 2024/2026 Value | Projected Value | Growth Rate |
|---|---|---|---|
| North American copper and copper-based powder (powder metallurgy) | 8,600 tonnes (2024) | — | CAGR 6.70% through 2034 |
| Global Copper Powder Market | USD 1.61B (2026) | USD 2.67B (2035) | CAGR 5.76% |
| Global Powder Met Market | USD 5.5B | — | — |
The Press & Sinter market is projected to grow at a compound annual growth rate of 6.70% through 2034, while the global copper powder market is forecast to grow at a CAGR of 5.76% from 2026 to 2035, according to Business Research Insights.
Why Jet Metals is the right partner for MPW
Jet Metals is a leading powder blending and remill supplier to the US Press & Sinter industry. The PPP agreement provides a technical collaboration framework for joint development that, if successful, is expected to result in a commercial offtake agreement.
MPW’s DirectPowder™ process adds value to the partnership because the company already produces the specific alloys of interest—C10100 and C14500 copper powder alloys. When blended with iron, these alloys produce stronger, harder sintered steel parts. The process also adds capacity and flexibility to a market currently constrained by supply chain issues.
John Barnes, Managing Director, Metal Powder Works
“Copper add-mix is a high-volume, everyday material in Press & Sinter, and Jet Metals is the right partner to put our powders to the test.”
The partnership with an established industry player de-risks MPW’s market entry and provides a clear validation pathway. Copper is one of the most widely used powder additions in the Press & Sinter market, making this a substantial, established source of demand that MPW is positioned to address.
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Timeline and next steps for investors to watch
The partnership provides a clear near-term catalyst with a defined timeline. Testing is expected to be completed within 3-4 months, after which MPW anticipates negotiating an offtake agreement if the testing succeeds. At full ramp, commercial supply volumes are targeted at circa 40-60 tonnes per annum.
Key milestones for investors to monitor:
- PPP agreement signed (current)
- Testing phase (3-4 months)
- Offtake negotiation (if successful)
- Commercial supply ramp
This agreement marks another significant milestone in MPW’s broader powder metallurgy strategy, which has gained momentum following the company’s reinvigorated sales team focus on this market segment. Success in this testing phase would open the door to an established market with quantified demand, providing a clear pathway from testing to revenue in the Press & Sinter copper add-mix segment.
The Westinghouse nuclear partnership, now in its third development phase, follows a similar staged validation model to the Jet Metals PPP agreement, with each phase building technical confidence before committing to full commercial supply.
The partnership represents MPW’s first step into the press-and-sinter copper add-mix market. Commercial supply is expected if the testing succeeds, positioning the company to impact the USD 5.5 billion global powder metallurgy market segment.
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