Powder Metallurgy Market

Market Overview:

The global powder metallurgy market size reached US$ 3.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.6 Billion by 2032, exhibiting a growth rate (CAGR) of 8.6% during 2024-2032. The growing utilization in the automotive industry, increasing usage in manufacturing inert machine parts, and increasing need to produce low-cost products represent some of the key factors driving the market.

Powder metallurgy (PM) refers to a metal-forming process that is performed by heating compacted metal powders, such as steel, aluminum, titanium, and nickel, below their melting points through forming, mixing, pressing, and sintering processes. It comprises various technologies, such as metal additive manufacturing (AM), powder bed, blown powder, metal injection molding (MIM), and powder metal hot isostatic pressing (HIP). It is highly suitable for a wide variety of ferrous and non-ferrous materials and provides high yield strength, tensile strength, and durability. It offers flexibility, lowers wastage costs, and improves stress performance and vibration absorption. It allows for designing intricate parts and has precise forming capabilities that boost overall product quality. Besides this, it assists in providing an improved surface finish, enhanced hardness, and high wear and cratering resistance. As a result, PM is widely employed in the automotive, aerospace, medical, construction, electrical and electronics, and oil and gas industries across the globe.

Powder Metallurgy Market Trends:

At present, the rising adoption of PM to manufacture inert machine parts, such as gears, rotors, bearings, magnets, and bushings, represents one of the key factors contributing to the growth of the market. Besides this, the growing utilization in the automotive industry to produce various lightweight automotive components and enhance fuel efficiency is offering a positive market outlook. Additionally, there is a rise in the demand for cost-effective, efficient, and lightweight material products around the world. This, coupled with the increasing number of infrastructure projects and construction activities is bolstering the growth of the market. Apart from this, the rising utilization of PM, as it reduces manufacturing yield losses and produces lower cost products, is impelling the growth of the market. Moreover, the increasing employment of PM in numerous electronic devices, such as car batteries and electronic gadgets across the globe, is offering lucrative growth opportunities to industry investors. In addition, the rising demand for PM in the aerospace industry, as it provides controlled porosity and high heat capacity and modulus of elasticity, is supporting the growth of the market. Furthermore, the increasing demand for metal-based products that are produced using additive manufacturing in the oil and gas sector is strengthening the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global powder metallurgy market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, material, manufacturing process and application.

Type Insights:

• Ferrous
• Non-Ferrous
   

The report has provided a detailed breakup and analysis of the powder metallurgy market based on the type. This includes ferrous and non-ferrous. According to the report, ferrous represented the largest segment.

Material Insights:

• Titanium
• Steel
• Nickel
• Aluminum
• Others
   

A detailed breakup and analysis of the powder metallurgy market based on the material has also been provided in the report. This includes titanium, steel, nickel, aluminum, and others. According to the report, steel accounted for the largest market share.

Manufacturing Process Insights:

• Additive Manufacturing
• Powder Bed
• Blown Powder
• Metal Injection Molding
• Powder Metal Hot Isostatic Pressing
• Others
   

A detailed breakup and analysis of the powder metallurgy market based on the manufacturing process has also been provided in the report. This includes additive manufacturing, powder bed, blown powder, metal injection molding, powder metal hot isostatic pressing, and others. According to the report, powder metal hot isostatic pressing accounted for the largest market share.

Application Insights:

• Automotive
• Aerospace
• Electrical and Electronics
• Oil and Gas
• Others
   

A detailed breakup and analysis of the powder metallurgy market based on the application has also been provided in the report. This includes automotive, aerospace, electrical and electronics, oil and gas, and others. According to the report, automotive accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) was the largest market for powder metallurgy. Some of the factors driving the Asia Pacific powder metallurgy market included the growing demand for enhanced infrastructure, rising adoption of additive manufacturing in the automotive sector, increasing need for lightweight components with improved performance, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global powder metallurgy market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include BASF SE, Carpenter Corporation, Catalus Corporation, Comtec Mfg.Inc., Fine Sinter Co. Ltd., Horizon Technology Inc., Melrose Industries PLC, Perry Tool & Research Inc., Phoenix Sintered Metals LLC, Precision Sintered Parts LLC, Sandvik AB, Sumitomo Electric Industries Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the powder metallurgy market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global powder metallurgy market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the powder metallurgy industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.