Increases in demand for automotive component owing to Expansion in the automotive sector to driving Global Powder Metallurgy Market

Albany, NY, 28th February : ResearchMOZ.us has published a fresh report to its vast repository titled “Global Powder Metallurgy Market- Segmented by Type of Cancer and Therapeutics - Growth, Trends and Forecasts 2018-2026” to its offerings. The report presents a comprehensive analysis of the global powder metallurgy market along with this segmental and regional analysis of the global powder metallurgy market is included. The report also provides major drivers and restraints impacting growth of this market in the coming years. The competitive landscape of the global powder metallurgy market is also presented in the research report.

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The rising demand for the powder metallurgy in the automotive sector for the production of several automotive parts such as exhaust system, oil pumps, and engines parts is one of the key reasons responsible for the growth of this market. These functions plays significant role in the production of automobile and this is other factor promoting growth of this market in the coming years. Apart from this, powder metallurgy provides 40% expenditure savings when compare to other technologies owing to low energy requirements. Further powder technologies can be utilized to produce high-value products for instance shafts, bearings and gears. These are another trend supporting growth of the global powder metallurgy market in the coming years.

The rising emphasis on alternative source of energy is driving growth of the global powder metallurgy market in the coming years. In addition, the increasing application of powder metallurgy in the electrical, electromagnetic and aerospace and the alternative energy industry is likely to provide lucrative opportunities and these are another factors positively triggering growth of this market in the foreseeable future.

On the other hand, the powder metallurgy has limited usage in the production of three-dimensional products which possess the properties of axial direction or through thickness. This is one of the key factors limiting growth of the global power metallurgy market. In addition, high expense associated with the power metallurgy raw material is another trend hampering overall growth of this market in the year to come.

From a geographical point of view, North America account for maximum share in the global metallurgy market. The United States is likely to provide lucrative opportunities ‘to the vendors due to rising demand from motors vehicle, electrical equipments and machine manufacturing in the batteries is likely to drive North America power metallurgy market in the coming years. However, other developing countries Asia Pacific are likely to account maximum growth in the coming years due to expansion of the automotive vehicle sector in the industry. These regions will provide lucrative opportunities.

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For instance, Bodycote Plc., a dominating service provider of heat treatment and thermal processing, launched a group of additive vendor’s processes by utilizing powder metallurgy for the production of complex components for the aerospace industry. All these factors are expected to boost the market in the region,

Some of the companies operating in the global powder metallurgy market are Allegheny Technologies Incorporated, Sumitomo Electric Company Ltd, and GKN Hoeganaes.

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