According to the latest report by IMARC Group, titled “Global Powder Metallurgy Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global powder metallurgy market reached a value of US$ 2.58 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.63 Billion by 2027 exhibiting a CAGR of 9.80% during 2022-2027.
Powder metallurgy (PM) refers to advanced metal-forming techniques to fabricate various metallic materials or components by heating compacted metal powders. It involves blending the fine powder, pressing it into a desired shape or form, and heating the compressed material in a controlled atmosphere for bonding. It offers several benefits in shape complexity, material utilization, and near-net-shape dimensional control than traditional methods such as forging and metal casting. As a result, PM is widely used in manufacturing oil and gas drilling well-head components, hardware, washing machines, power tools, hunting knives, hydraulic assemblies, fuel cells, and X-ray shielding.
Base Year: 2021
Forecast Year: 2022-2027
Powder Metallurgy Market Trends and Drivers:
The global powder metallurgy market is primarily driven by the rising preference of PM among automotive original equipment manufacturers (OEMs). Additionally, the increasing penetration of additive manufacturing or 3D printing in the aerospace, defense, and healthcare industries due to its reduced weight, complexity in designs, and cost-effectiveness, is another major growth-inducing factor.
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In line with this, several leading players are making heavy investments in research and development (R&D) activities to enhance their production capacity, efficiency, and profitability, which in turn, is propelling the market growth.
Other factors, including the rising establishment of manufacturing plants, emerging medical and dental applications, growing automobile production, rapid industrialization, and technological advancements, are also anticipated to drive the market further in the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Powder Metallurgy Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
BASF SE, Carpenter Corporation, Catalus Corporation, Comtec Mfg.Inc., Fine Sinter Co. Ltd., Horizon Technology Inc., Melrose Industries PLC, Perry Tool & Research Inc., Phoenix Sintered Metals LLC, Precision Sintered Parts LLC, Sandvik AB and Sumitomo Electric Industries Ltd.
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The report has segmented the market on the basis of region, type, material, manufacturing process and application.
Breakup by Type:
Breakup by Material:
Breakup by Manufacturing Process:
- Additive Manufacturing
- Powder Bed
- Blown Powder
- Metal Injection Molding
- Powder Metal Hot Isostatic Pressing
Breakup by Application:
- Electrical and Electronics
- Oil and Gas
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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