Powder Metallurgy Parts Market Anticipated To Witness Robust Growth, Surpassing $36 Billion By 2029

The Powder Metallurgy Parts Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Powder Metallurgy Parts Market Size Expected to Be by 2034?
The market size of powder metallurgy parts has seen significant growth in the past few years. It is projected to increase from $26.94 billion in 2024 to $28.97 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%. The surge in growth during the historical period is a result of demands from the automotive industry, economic manufacturing methods, advancements in metal powder, environmental sustainability, and the growth of end-use industries.

Anticipations point to substantial expansion in the powder metallurgy parts market over the forthcoming years, with predictions for it to reach $36 billion by 2029, at a compound annual growth rate (CAGR) of 5.6%. The projected progress in this period is largely due to the booming electric vehicles market, increasing demand for custom designs and intricate geometries, the heightened use in aerospace applications, the need for lightweight materials, and growing utilization in the healthcare industry. Looking ahead, key trends to watch for include the increased use of tungsten alloys, tightening quality standards and certifications, challenges faced globally in the supply chain, cooperative research and development efforts, and the surge in electric vehicle production.

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How Are Emerging Segments Shaping the Powder Metallurgy Parts Market Landscape?
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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Which Growth Factors Are Influencing Powder Metallurgy Parts Market Expansion?
The escalating interest in electric vehicles globally is predicted to drive the expansion of the powder metallurgy parts market. Electric vehicles, which run completely or partly on electric energy and use an electric engine rather than a traditional combustion one, require the use of powder metallurgy parts like soft magnetic parts. These parts are utilised in the electric motor, mitigating lamination risks. As such, the increasing usage of electric vehicles will boost the need for the powder metallurgy parts market. For example, data from the France-based independent intergovernmental organisation, International Energy Agency, in April 2023 shows that over 10 million electric cars were bought globally in 2022, and sales are projected to surge by another 35% in 2023, hitting 14 million. Thus, the escalating demand for electric vehicles is fuelling the expansion of the powder metallurgy parts market.

Who Are the Dominant Players Across Different Powder Metallurgy Parts Market Segments?
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.

What Are the Latest Developing Trends in the Powder Metallurgy Parts Market?
Key businesses working within the powder metallurgy parts market are concentrating on novel product innovations, such as bonded mix solutions that boost compaction efficiency. This enables the manufacture of bigger, more intricately crafted components with superior density distribution and less material wastage. A bonded mix solution amplifies compaction efficiency, providing high apparent density and outstanding filling performance, negating the need for metal stearates. Notably, in October 2024, Höganäs AB, a company rooted in Sweden and specialising in the production of powdered metals, introduced a new bonded mix solution named Starmix Nova. This solution is crafted to augment compaction efficiency by providing high apparent density and superior filling performance, excluding the application of metal stearates. This creative breakthrough facilitates the creation of larger, geometrically intricate components with enhanced density distribution. Furthermore, it prolongs tool life, while also ensuring clearer, more environmentally friendly sintering procedures.

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Which Geographic Regions Are Expected to Dominate the Powder Metallurgy Parts Market in the Coming Years?
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

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Powder Metallurgy Parts Market?
2. What is the CAGR expected in the Powder Metallurgy Parts Market?
3. What Are the Key Innovations Transforming the Powder Metallurgy Parts Industry?
4. Which Region Is Leading the Powder Metallurgy Parts Market?

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