Powder Metallurgy Market Size to Surpass USD 5.08 Billion with CAGR of 10.26% by 2029

The powder metallurgy has largely gaining popularity across the automotive sector. Furthermore, PM allows for the production of materials with high melting points, which are difficult to produce using the casting method. Moreover, it is used in various products such as hardware, washing machines, power tools, copiers and postage meters, hunting knives, hydraulic assemblies, fuel cells, X-ray shielding, and oil and gas drilling well-head components. Consequently, the increased utilization across the industries aid the market to flourish over the forecast period.

Global Powder Metallurgy Market was valued at USD 2.33 billion in 2021 and is expected to reach USD 5.08 billion by 2029, registering a CAGR of 10.26% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

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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.

Some of the major players operating in the 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)

POWDER METALLURGY MARKET DYNAMICS
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
High Utilisation Across 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.

Furthermore, 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.

Opportunities
Investments and Advancements
Furthermore, 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 of 2022 to 2029. Additionally, the advancement in electrical and electronics components further expand the future growth of the powder metallurgy market.

Restraints/Challenges
High Costs of Powder Metallurgy
One of the major impediments to the expansion of the 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.

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 powder metallurgy market. Therefore, this will challenge the powder metallurgy market growth rate.

This 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 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.

Access Full Report: https://www.databridgemarketresearch.com/reports/global-powder-metallurgy-market

GLOBAL POWDER METALLURGY MARKET SCOPE
The powder metallurgy market is segmented on the basis of product type, process, application and end user. The growth amongst these segments will help you analyze 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
Aluminium
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

POWDER METALLURGY MARKET REGIONAL ANALYSIS/INSIGHTS
The powder metallurgy market is analyzed and market size insights and trends are provided by country, product type, process, application and end user as referenced above.
The countries covered in the 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 of 2022-2029. The market growth over this region is attributed to rapid urbanization, population rise, and the need for improved infrastructure within the region.

The report answers questions such as:
What is the market size and forecast of the Powder Metallurgy Market?
What are the inhibiting factors and impact of COVID-19 shaping the Powder Metallurgy Market during the forecast period?
Which are the products/segments/applications/areas to invest in over the forecast period in the Powder Metallurgy Market?
What is the competitive strategic window for opportunities in the Powder Metallurgy Market?
What are the technology trends and regulatory frameworks in the Powder Metallurgy Market?
What is the market share of the leading vendors in the Powder Metallurgy Market?
What modes and strategic moves are considered suitable for entering the Powder Metallurgy Market?

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