Global Powder Metallurgy Market, By Product Type (Ferrous, Non-Ferrous), Process (Additive Manufacturing, Metal Injection Moulding, Powder Metal Hot Isostatic Pressing), Application (Aerospace, Automotive, Electrical and Electronics, Industrial Machinery, Medical, Others), End User (OEM’s, AM Operators) - Industry Trends and Forecast to 2030.
Powder Metallurgy Market Analysis and Size
Over the last few years, there has been immense growth in the participation in powder metallurgy activities. Additionally, with the transition from console toward mobile, the participation in Powder Metallurgy has surged rapidly. In recent decades, the legal Powder Metallurgy has become a major phenomenon in various countries, including the United States. The fact that over 80% of American adults bet at least once in their lifetime puts the popularity of powder metallurgy in the country into perspective. Therefore, the market is estimated to grow rapidly over the forecasted period 2023-2030.
Data Bridge Market Research analyses that the global powder metallurgy market which was USD 2.56 billion in 2022 is expected to reach USD 5.60 billion by 2030 and is expected to undergo a CAGR of 10.26 % during the forecast period 2023-2030. The “automotive” industry is said to dominate the global powder metallurgy market. This is because powder metallurgy is extensively used to manufacture components like gears, bearings, and structural parts in automobiles, benefiting from the industry's large-scale production and demand for lightweight, durable parts. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Powder Metallurgy Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Ferrous, Non-Ferrous), Process (Additive Manufacturing, Metal Injection Moulding, Powder Metal Hot Isostatic Pressing), Application (Aerospace, Automotive, Electrical and Electronics, Industrial Machinery, Medical, Others), End User (OEM’s, AM Operators)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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BASF SE (Germany), Carpenter Corporation (U.S.), Comtec Mfg.Inc. (U.S.), Fine Sinter Co. Ltd. (Japan), Melrose Industries PLC (U.K.),., Phoenix Sintered Metals LLC (U.S.), Precision Sintered Parts (U.S.), Sandvik AB (Sweden), Sumitomo Electric Industries, Ltd. (Japan), General Electric (U.S.), Miba AG (Austria), ExOne (U.S.), Showa Denko Materials Co., Ltd. (Japan), PMG Holding GmbH (Germany), Siemens (Spain), Shanghai Electric (China), ABB (Switzerland) and Hitachi Ltd. (Japan)
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Market Opportunities
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Market Definition
Powder metallurgy is the process of manufacturing or producing components or materials from metal powders. It is primarily used to create one-of-a-kind components that are impossible to create through melting or forming, such as tungsten carbide. Powder metallurgy reduces manufacturing yield losses and produces lower-cost products. It is a method that saves time, money, and effort. It converts the starting material into the necessary powder form and then sticks the powder together to form a desirable unique product. Powder metallurgy is also used in the production of inert machine parts such as rotors, gears, bearings, bushings, and magnets.
Global Powder Metallurgy Market Dynamics
Drivers
- High Utilisation Across The Automotive Industry
Power metallurgy is a popular technique in the automotive industry. Powder metallurgy applications in the automotive industry are steadily increasing, as powder metallurgy is widely regarded as a cost-effective alternative to machined or cast parts. The growing awareness in several developing regions to improve fuel efficiency drives the demand for powder metallurgy in the automotive sector. The demand for powder metallurgy components is being driven by the rise in demand for lightweight vehicles, lightweight materials, and alternative energy sources via metal injection molding, metal powder forging, and warm compaction. Powder metallurgy components are used to manufacture a wide range of automotive components, due to which the market will have an accelerated demand from automotive sector.
- Growth of Disposable Income
The growth in disposable income among consumers has further boosted demand for electronic appliances and gadgets, which directly impacts the powder metallurgy market. Over the forecast period, the market will be driven by the increasing use of additive manufacturing to reduce the weight of parts or components used in the aerospace, defense, and healthcare sectors. Additionally, the increase in application of powdered metals in electrical and electronic devices, such as car batteries and electronic gadgets will also drive market value growth. Powder metallurgy is being used in aerospace components due to increased demand for controlled porosity, high heat capacity, and high modulus of elasticity. The growing demand for thermoplastic components in the aerospace industry is driving up demand for powder metallurgy.
Opportunity
- Investments and Advancements
The market players are considerably investing in research and development activities that further enhance product applications and extend profitable opportunities to the market players in the forecast period. Additionally, the advancement in electrical and electronics components further expand the future growth of the global powder metallurgy market.
Restraints/Challenges
- High Costs of Powder Metallurgy
One of the major impediments to the expansion of the global powder metallurgy market is the high cost of the metal powder used in the processes in comparison to other raw materials used in casting and forging. This factor is projected to hamper the market growth over forecast period 2023-2030.
- Low Quality of Machined Parts
The mechanical properties of the parts are inferior to cast or machined parts. Moreover, the density of different parts of the final product can vary in some cases due to uneven compression will prove to be a demerit for the global powder metallurgy market. Therefore, this will challenge global powder metallurgy market growth rate.
This global powder metallurgy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global powder metallurgy market Contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In July 2023, Erasteel, a global leader in Powder Metallurgy High-Speed Steels, is set to launch BlueTap Max, an innovative solution for high-performance taps. With decades of experience, customer partnerships, and a skilled R&D team, Erasteel consistently delivers sustainable, high-performance grades
Global Powder Metallurgy Market Scope
The global powder metallurgy market is segmented on the basis of product type, process, end user and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Ferrous
- Iron Powder
- Steel Powder
- Non-Ferrous
- Aluminum
- Copper
- Nickel
- Cobalt
- Tungsten
- Titanium
- Chromium
- Molybdenum
Process
- Additive Manufacturing
- Metal Injection Molding
- Powder Metal Hot Isostatic Pressing
Application
- Aerospace
- Automotive
- Electrical and Electronics
- Industrial Machinery
- Medical
- Others
End User
- OEM’s
- AM Operators
Global Powder Metallurgy Market Analysis/Insights
The global powder metallurgy market is segmented on the basis of country, product type, process, end user and application as referenced above.
The countries covered in the global powder metallurgy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. The market growth over this region is attributed to rapid urbanization, population rise, and the need for improved infrastructure within the region.
Europe, on the other hand, is estimated to show lucrative growth over the forecast period 2023-2030, due to the rise in demand for powder metallurgy in various industries such as medical, automotive, and aerospace and defense industries in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Powder Metallurgy Market Share Analysis
The global powder metallurgy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company’s focus related to global powder metallurgy market.
Some of the major players operating in the global powder metallurgy market are:
- BASF SE (Germany)
- Carpenter Corporation (U.S.)
- Comtec Mfg.Inc. (U.S.)
- Fine Sinter Co. Ltd. (Japan)
- Melrose Industries PLC (U.K.)
- Phoenix Sintered Metals LLC (U.S.)
- Precision Sintered Parts (U.S.)
- Sandvik AB (Sweden)
- Sumitomo Electric Industries, Ltd. (Japan)
- General Electric (U.S.)
- Miba AG (Austria)
- ExOne (U.S.)
- Showa Denko Materials Co., Ltd. (Japan)
- PMG Holding GmbH (Germany)
- Siemens (Spain)
- Shanghai Electric (China)
- ABB (Switzerland)
- Hitachi Ltd. (Japan)
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