Top Factor Driving Powder Metallurgy Parts Market Growth in 2025: Electric Vehicle Surge Fuels Accelerated Growth In The Powder Metallurgy Parts Market

How Are the key drivers contributing to the expansion of the powder metallurgy parts market?
The surge in the global demand for electric vehicles is anticipated to drive the expansion of the powder metallurgy parts market. Electric vehicles, which are fully or partially powered by electricity and operate on an electric engine rather than a traditional combustion one, use powder metallurgy parts like soft magnetic parts in the electric motor, thereby ruling out the possibility of laminations. Consequently, the burgeoning electric vehicles industry would result in increased demand for the powder metallurgy parts market. To illustrate, the International Energy Agency, an autonomous intergovernmental organization based in France, reported in April 2023 that over 10 million electric cars were sold globally in 2022, with sales predicted to rise by another 35% in 2023, hitting 14 million. Hence, the escalating demand for electric vehicles is fuelling the growth of the powder metallurgy parts market.

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What growth opportunities are expected to drive the powder metallurgy parts market's CAGR through 2034?
The market for powder metallurgy parts has demonstrated robust growth in the preceding years. Its size is projected to surge from $26.94 billion in 2024 to $28.97 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.6%. The significant growth perceived in the historic phase can be accredited to the escalating demand from the automotive sector, cost-effective production methods, advancements in metal powder technology, environmental sustainability, and growth in the diversity of end-use industries.

The market size for powder metallurgy parts is predicted to experience robust expansion in the forthcoming years. It's projected to reach $36 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.6%. The surge in the forecast period is attributed to the growth of the electric vehicle market, the need for customization and intricate geometries, the rising use in aerospace applications, the high demand for lightweight materials, and the growing usage within the healthcare sector. Key trends during this period are expected to be the use of tungsten alloys, the emphasis on quality standards and certification, global supply chain issues, cooperative R&D, and increased manufacturing of electric vehicles.

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What are the emerging trends shaping the future of the powder metallurgy parts market?
Leading firms in the powder metallurgy parts market are investing in product advancements, including bonded mix solutions, to boost compaction efficiency. This technology allows for the creation of bigger, more intricate components featuring improved density distribution and lesser material wastage. Bonded mix solutions enhance compaction effectiveness by providing high apparent density and superior filling performance, eliminating the need for metal stearates. For example, in October 2024, Höganäs AB, a powdered metal manufacturing company from Sweden, debuted Starmix Nova, a cutting-edge bonded mix solution. This product is designed to augment compaction efficiency, providing high apparent density and bolstered filling performance without relying on metal stearates. The development supports the fabrication of larger, more sophisticated components with a better density distribution, prolongs tool lifespan, and promotes cleaner, more eco-friendly sintering procedures.

Which growth-oriented segments of the powder metallurgy parts market are leading the industry's development?
The powder metallurgy parts market covered in this report is segmented -

1) By Product: Ferrous Metals, Non-Ferrous Metals
2) By Fabrication Method: Pressure-Based, Sinter-Based, Hybrid
3) By Application: Industrial, Automotive, Healthcare, Electrical And Electronics, Other Applications

Subsegments:
1) By Ferrous Metals: Iron Powder, Steel Powder, Stainless Steel Powder
2) By Non-Ferrous Metals: Aluminum Powder, Copper Powder, Titanium Powder, Nickel Powder

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What regions are leading the charge in the powder metallurgy parts market?
North America was the largest region in the powder metallurgy parts market in 2024. The regions covered in the powder metallurgy parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What companies are at the forefront of innovation in the powder metallurgy parts market?
Major companies operating in the powder metallurgy parts market include Sumitomo Electric Industries Ltd., Allegheny Technologies Inc., AMETEK Inc., Carpenter Technology Corporation, Daido Steel Co. Ltd., Diamet Corporation, DOWA Electronics Materials Co. Ltd., Eramet SA, H C Starck GmbH, Hitachi Chemical Co. Ltd., JFE Steel Corporation, Kennametal Inc., Miba AG, PMG Holding GmbH, Rio Tinto Metal Powders, Allied Sinterings Inc., American Sintered Technologies, AMES Reese Inc., Atlas Pressed Metals, Baxter Machine & Tool Co., Burgess-Norton Manufacturing Co., Catalus Corporation, Cloyes Gear & Products Inc., Compax Inc., Engineered Sintered Components Company, fine-sinter Co. Ltd., FMS Corporation, GKN Sinter Metals, Gorham Inc., Hittco Tools Limited, Hoeganaes Corporation, Horizon Technology, Keystone Powdered Metal Company, Liberty Pressed Metals LLC, Melrose Industries PLC, Metal Powder Products Company, Metaldyne Performance Group, Metco Industries Inc., NetShape Technologies Inc.

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What Is Covered In The Powder Metallurgy Parts Global Market Report?

• Market Size Forecast: Examine the powder metallurgy parts market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the powder metallurgy parts market for a structured understanding.
• Key Players Overview: Analyze major players in the powder metallurgy parts market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the powder metallurgy parts market.
• Segment Contributions: Evaluate how different segments drive overall growth in the powder metallurgy parts market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the powder metallurgy parts market.
• Industry Challenges: Identify potential risks and obstacles affecting the powder metallurgy parts market.
• Competitive Landscape: Review strategic developments in the powder metallurgy parts market, including expansions, agreements, and new product launches.

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