Global Powder Metallurgy Market Size By Material (Ferrous, Non-Ferrous), By Application (Aerospace, Automotive, Electrical and Electronics, Industrial Machinery), By Geographic Scope And Forecast

Powder Metallurgy Market Size And Forecast

Powder Metallurgy Market size was valued at USD 7.49 Billion in 2020 and is projected to reach USD 12.63 Billion by 2028, growing at a CAGR of 6.77% from 2021 to 2028.

The increasing demand for powder metallurgy in the manufacture of automotive components is the major factor in booming the Powder Metallurgy Market. Moreover, developing advancements in the innovation in computer and electronic components are going to impel interest in non-ferrous metal powder and the growing adoption of powder metallurgy is expected to boost the market growth. The Global Powder Metallurgy Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

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Global Powder Metallurgy Market Definition

Powder metallurgy is that the process of producing different types of components from metal powders. It is wont to make filters that need greater strength and impact resistance. The metallurgy is additionally used for the manufacture of inserts of cutting tools and parts of machines like rotors, gears, bushings, bearings, and magnets. They are also applied in commercial machinery, hardware, hydraulics, and hand tools divisions.

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Global Powder Metallurgy Market Overview

The growing penetration of additive manufacturing in the medical, automotive, and aerospace & defense sectors is projected to drive the market. The growing demand for powder metallurgy in the manufacture of automotive components is the major factor in prospering the Powder Metallurgy Market. Moreover, developing advancements in the innovation in computer and electronic components are going to impel interest in non-ferrous metal powder and the growing adoption of powder metallurgy is expected to boost the market growth.

There are certain restrictions and barriers faced that will hinder the overall market growth. These processes are not yet efficient and capable of producing large parts and components. This NJHis estimated to slow growth during the forecast period of the global Powder Metallurgy Market. Nevertheless, the progressions in technologies and untapped potential in emerging markets offer beneficial growth opportunities.

Global Powder Metallurgy Market: Segmentation Analysis

The Global Powder Metallurgy Market is Segmented on the basis of Material, Application, And Geography.

Powder Metallurgy Market, By Material

• Ferrous
• Non-Ferrous

Based on Material, the market is segmented into Ferrous and Non-Ferrous. The ferrous segment holds the largest market share during the forecast period. The factors that can be attributed to the increase in its utilization in the production of machines, car frames, and transport equipment are accelerating the demand for this segment.

Powder Metallurgy Market, By Application

• Aerospace
• Automotive
• Electrical and Electronics
• Industrial Machinery
• Other Applications

Based on Application, the market is segmented into Aerospace, Automotive, Electrical and Electronics, Industrial Machinery, and Other Applications. The aerospace segment holds the largest market share during the forecast period. The factors that can be attributed to the growing awareness about significant cost and weight savings among various manufacturers are fueling the demand for this segment.

Powder Metallurgy Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the Global Powder Metallurgy Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America holds the largest market share. The strong presence of major manufacturers in the region increased funding for the research & development and standardization of the technology, and ongoing projects will boost the market in the North American region.

Key Players

The “Global Powder Metallurgy Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Hitachi Chemical Company Ltd, GKN Hoeganaes, Sumitomo Electric Company Ltd., AMES S.A, Fine Sinter Company Ltd, H.C. Starck, Schunk Group, SHW AG, SMC Powder Metallurgy, and Miba AG.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Mergers and Acquisitions

• GKN Powder Metallurgy, a US-based plastic parts producer, acquired FORECAST 3D on October 22, 2019 to expand additive manufacturing capabilities to include plastics. The acquisition builds on HP Metal Jet’s quick success and connects firms that effectively use HP 3D printing solutions in metal and plastic. This move has a favourable impact on the company’s success.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
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