Global Powder Metallurgy Market Outlook to 2022 - Key Players are GKN Hoeganaes, Sumitomo Electric Company Ltd, and Fine Sinter Company Ltd.

Global Powder Metallurgy Market Overview:

The powder metallurgy is used to process powdered raw materials to manufacture different types of components. It is used in various applications in various industries around the world. Powder metallurgy is used to make filters that require greater strength and impact resistance. It is used for the manufacture of inserts of cutting tools and parts of machines such as gears, bushings, bearings, gears, rotors and magnets. They find applications in commercial machinery, hardware, appliances, industrial engines, hydraulics and hand tools. It is likely that rapid technological advances in electronic and computer components will increase the demand for powders of non-ferrous metals such as aluminum and titanium powdered metals during the forecast period. Powder metallurgy is a preferred manufacturing method for several structured parts due to the profitability and uniqueness of the product.

Global Powder Metallurgy Market Size:

The Global Powder Metallurgy Market should reach USD 10.9 billion by 2022 from USD 7.3 billion in 2017 at a compound annual growth rate (CAGR) of 5.2% and 8.2%, respectively, from 2017 to 2022.

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Drivers and Restraints:

The growing demand for powder metallurgy in the manufacture of automotive components is an important factor in the powder metallurgy market. It is expected that the use of powder metallurgy parts in automobiles will increase in the coming years due to changing fuel consumption standards throughout the world. It is expected that these new laws will change the characteristics of many automobiles, such as the reduction of the weight of the vehicle, the change in the design of the powertrain and the globalization of production and design. Another important factor in the powder metallurgy market is the inherent advantages of powder metallurgy, such as low energy consumption and superior use of raw materials compared to other technologies. The powder metallurgy has a raw material utilization rate higher than 95% compared to machining, which uses only about 50% of the raw materials. In addition, the energy required to produce one kilogram of finished product is the lowest for powder metallurgy. All these factors should stimulate the powder metallurgy market during the forecast period. Significant investments, the complexity of producing three-dimensional shapes and the need for expensive food stocks are some of the factors that can reduce the market during the forecast period. However, it is expected that the powder metallurgy technology will overcome most of its limitations soon. The increasing demand for controlled porosity aerospace components, and high heat capacity and high modulus elasticity for additive manufacturing with 3D printing is expected to provide lucrative opportunities for manufacturers operating in the market.

Geographic Segmentation:

At the regional level, the global powder metallurgy market has been classified into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa. In terms of consumption, North America has been one of the main regions of the powder metallurgy market in 2017 with the increased energy efficiency through better engine performance, lower fuel consumption and higher fuel efficiency. In addition to the automotive industry, the demand for powder metallurgy in the US aerospace industry is expected to increase significantly during the forecast period. The increased demand for cells due to the growing need for more efficient engines should prompt manufacturers to develop more resistant materials that can operate at higher temperatures. The superalloy components based on powder metallurgy have an important demand in various applications, such as turbine discs, since they do not exhibit the inherent solidification defects in foundries and cast and forged alloys. In terms of consumption, Asia Pacific is expected to outperform North America during the forecast period. This is mainly due to the expansion of the automotive industry and the increase of foreign direct investment in the electrical and electronic industry in developing countries such as China, India and others. In addition, the increase in purchasing power parity and consumer disposable income have stimulated the automobile industry in Asia-Pacific. This, in turn, has increased the demand for powder metallurgy in the Asia-Pacific car user industry. The market in Europe is expected to grow at a moderate pace. It is expected that countries such as Germany, France, the United Kingdom and the countries of Eastern Europe will provide lucrative opportunities for manufacturers soon. Increasing demand for fuel-efficient aircraft and motor vehicles due to rising fuel costs. and the pressure to reduce greenhouse gas emissions is driving demand for aerospace and automotive components for the future. Latin America, the Middle East and Africa contribute less in terms of powder metallurgy consumption than in other regions. Both regions are highly dependent on imports of metallurgical dust from neighboring countries. However, manufacturers strive to expand manufacturing production to these regions through strategic acquisitions and mergers.

GKN Hoeganaes, Sumitomo Electric Company Ltd, and Fine Sinter Company Ltd are few of the key players operating in the global powder metallurgy market. They are focusing on mergers and acquisitions for expansion. For instance, in 2016, Sumitomo Electric Industries, Ltd., acquired Keystone Powdered Metal Co, a U.S.-based manufacturer of powder metal components and assembly parts.

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Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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