Powder Metallurgy Market

Powder Metallurgy Market Research, 2031

Powder Metallurgy Market to surpass USD 11.7 billion by 2031 from USD 4.6 billion in 2021 at a CAGR of 9.8% in the coming years, i.e., 2021-31.

Powder metallurgy is a technique by which metal powders are converted into desired components. The metal powders are heated just below their melting points. The process includes powder preparation, mixing and blending, compacting and sintering. Powder metallurgy produces precise and highly accurate structural parts. The technology of powder metallurgy is continually evolving which can work on most metallic and alloy materials.

Market Highlights

Powder Metallurgy market is expected to project a notable CAGR of 9.8% in 2031.

The rise in demand for light-weight products and lightweight materials by using additive manufacturing will drive the demand for powder metallurgy. Additionally, electronic items, gadgets and vehicles are composed of components that are made of metal powders, the demand for these products will directly create a positive impact on the powder metallurgy market.

Powder Metallurgy Market: Segments

Steel segment to grow with the highest CAGR during 2021-31

Based on material Powder Metallurgy is fragmented into aluminum, nickel, cobalt, titanium, and others. During the forecast period, steel segment is expected to grow with the highest CAGR. Steel is one of the cheapest metals for manufacturing components or products by using powder metallurgy. Due to its many qualities like corrosion and rust resistance, stainless steel is generally the first choice for the production of many components. Steel being a very versatile and adaptive metal has a huge range of applications and thus is expected to have the highest market share.

Automotive segment to grow with the highest CAGR during 2021-31

Powder metallurgy market is classified on the basis of application in Aerospace, Automotive, Electrical and Electronics, Industrial Machinery, Medical, Others. The automotive segment is expected to grow with the highest CAGR. The rising demand for improvement in fuel efficiency in several countries has boosted the demand for lightweight components and has raised the demand for powder metallurgy components. Powder metallurgy application in automotive segment has the ability to produce complex structures by using cost-effective production methods.

Market Dynamics

Drivers

High Utilization in manufacturing different components

Powder Metallurgy is widely used in aerospace, automotive, medical, and electronics sectors owing to the demand of high-quality, lightweight components with zero wastage and precise finishing products. Development and adoption of fuel-efficient regulations in the automotive sector have created a need for powder metallurgy components. As powder metallurgy reduces the machining time, there has been a shift from traditional manufacturing technologies. Rising use of additive manufacturing in aerospace and medical sector will boost the powder metallurgy market.

Growing demand for technology-based products

Over the span of years, we have seen a huge demand for high-tech products. Electronic devices are the most popular products in the modern world and the components are made of metal powders. The application of powder metallurgy in electric appliances and automobiles such as car batteries and gadgets will further fuel the powder metallurgy market.  

Restraint

High costs

High raw materials cost and high tooling cost is the major drawback of powder metallurgy market. The cost of metal powders is higher than the cost of raw material. There is difficulty in storing a few powders without any deterioration. It is preferable only for mass production.

Powder Metallurgy Market: Key Players

• Allegheny Technologies Inc (ATI)
• CRS Holdings Inc
• Catalus Corporation
• Basf Se
• Capstan Inc.
• Carpenter Technology Corp. (Crs Holdings LLC)
• Cnpc Powder
• Erasteel
• Exone Inc.
• Fine-Sinter Co. Ltd.
• Gkn Sinter Metals Engineering GmbH
• Hoganas Ab
• Hitachi Metals Ltd.
• Other Prominent players

Powder Metallurgy Market: Regions

Powder Metallurgy market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Rapid industrialization, rising population and growing investments in infrastructure will boost the market growth in Asia Pacific region during the forecast period. The demand for powder metallurgy for producing automotive parts and rising manufacturing economies in this region has started to flourish the powder metallurgy market.

Powder Metallurgy is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Powder Metallurgy report also contains analysis on:

Powder Metallurgy Segments:

• By Material:
  • Steel
  • Cobalt
  • Titanium
  • Aluminum
  • Others
• By Process
  • Additive Manufacturing
  • Metal Injection Molding
  • Powder Metal Hot Isostatic Pressing
• By Application
  • Aerospace
  • Automotive
  • Medical
  • Electricals and electronics
  • Industrial Machinery
  • Others
• Powder Metallurgy Market Dynamics
• Powder Metallurgy Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Powder Metallurgy Market Report Scope and Segmentation

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