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Powder Metallurgy Market Trends, Top Companies, Share, Growth And Forecast 2033
Powder Metallurgy Market
The Business Research Company offers in-depth market insights through Powder Metallurgy Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The powder metallurgy market size has grown strongly in recent years. It will grow from $3.8 billion in 2023 to $4.17 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to advancements in materials for renewable energy, industrial machinery and automation, emergence of additive manufacturing, development of specialized alloys, rise in consumer electronics demand.
The powder metallurgy market size is expected to see strong growth in the next few years. It will grow to $6.05 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to shift towards sustainable manufacturing, advancements in additive manufacturing, adoption of powder metallurgy in aerospace, development of high-performance alloys. Major trends in the forecast period include industrial applications and machinery, focus on sustainability and recycling, consumer electronics sector, medical devices and implants, renewable energy infrastructure.
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Market Segmentation:
The powder metallurgy market covered in this report is segmented -
1) By Material: Titanium, Nickel, Steel, Aluminum, Cobalt, Other Materials
2) By Process: Additive Manufacturing, Metal Injection Molding, Powder Metal Hot Isostatic Pressing
3) By Type: Ferrous, Non-Ferrous
4) By Application: Aerospace and Defense, Automotive, Medical and Dental, Oil and Gas, Other Applications
Major Driver - Additive Manufacturing Reshapes Powder Metallurgy Market Landscape
The increasing adoption of additive manufacturing is expected to drive the growth of the powder metallurgy market going forward. Additive manufacturing, also called 3D printing, is a computer-controlled process of manufacturing 3D objects by depositing repetitive layers of monomeric materials. Additive manufacturing is an important aspect of powder metallurgy. In an Additive manufacturing process, metal powders or metal alloy powders are used creates objects layer upon layer. The adoption of additive manufacturing required more metal powers which increase the demand for powder metallurgy. For instance, according to 3D Printing Trends 2021 report, by Jabil Inc., a US-based manufacturing services company, the utilization of additive manufacturing technology for industrial parts has gradually expanded with more than 50% of manufacturing companies employing additive manufacturing to create functional or end-use items. Therefore, the increasing adoption of additive manufacturing drives the growth of the powder metallurgy market forward.
Competitive Landscape:
Major companies operating in the powder metallurgy market report are Glencore plc, BASF SE, ArcelorMittal S.A., BHP Billiton Limited, Nippon Steel & Sumitomo Metal Corporation, Vale S.A., Anglo American plc, Rio Tinto Metal Powders, Sumitomo Electric Industries Ltd., Freeport-McMoRan Inc., Norsk Hydro ASA, Kobe Steel Ltd., United Company RUSAL, Melrose Industries plc, Antofagasta plc, Alcoa Corporation, Yulch Metallurg Group, Carpenter Technology Corporation, Hoganas AB, 3D Systems Corp, Phoenix Sintered Metals LLC, Betatype Ltd., Materialise NV, ExOne GmbH, GKN plc, Fine Sinter Co Ltd., Liberty House Group, Arcam AB, Fiat Chrysler Automobiles NV, Sibur Holding plc, Mitsubishi Corporation, JFE Steel Corporation
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Top Trend - Advancements In Powder Metallurgy Unleash High-Performance Tap Solutions For Superior Precision
Major companies operating in the powder metallurgy market are focused on introducing advanced solutions, such as high-performance tap solutions, to gain a competitive edge in the market. High-performance tap solutions are advanced tools used for creating internal threads in a workpiece that provide superior performance, precision, and durability compared to standard taps. For instance, in July 2023, Erasteel, a US-based company that provides powder metallurgy and high-speed steel, launched BlueTap Max. BlueTap Max is a high-performance tap solution made from high-performance PM HSS (Powder Metallurgy High-Speed Steel) grades that provides excellent mechanical properties and corrosion resistance. It provides exceptional performance, longevity, and reliability.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Powder Metallurgy Market Characteristics
3. Powder Metallurgy Market Trends And Strategies
4. Powder Metallurgy Market - Macro Economic Scenario
5. Powder Metallurgy Market Size And Growth
…..
27. Powder Metallurgy Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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