Global Powder Metallurgy Market was valued US$ 7.32 Bn in 2019 and is anticipated to reach US$ X.98 Bn by the end of the forecasted period 2027, with expected CAGR of X.9%.
Global Powder Metallurgy Market, By Region
Utilization of powder metallurgy by industries for manufacturing various type of tools, is fuelling the demand and it is documented annual production of product is approximately, 50,000 tonnes/year. In the year of 2019 recorded production was XX tones globally. Ease of import and export facility movement is giving numerous opportunities for Powder Metallurgy market and to the competitive player competing in the market. The European Market alone has an annual turnover of over 6 Bn Euros, with annual worldwide metal powder production exceeding one Mn tonnes. Probable export price of Powder Metallurgy, all over the world is ~ X.32$ per tonne and estimated to grow with X.2%. Dispensing cost may differ country to country. The Global Powder Metallurgy market was valued US$ 7.32Bn and is expected to reach X.98 Bn by 2027, at a CAGR of X.9% during a forecast period.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Market Growth Factor
Deep analysis study for the powder metallurgy market have its uniqueness and cost effectiveness is making product, which is accepted worldwide. Uniqueness of this product covers, processing combinations of materials that would otherwise be impossible to mix, processing of materials with very high melting points, products with controlled levels of porosity and many more. Furthermore, high manufacturing unit development in automotive industries, reflected as leading opportunity provider for the market to grow in future.
Globally, powder metallurgy is used to make filters which necessitate greater impact and strength resistance. It is widely used for the parts of machines and manufacture of inserts of cutting tools like bearings, gears, rotors, bushings, and magnets also applicable in commercial machinery, appliances, engines, industrial hydraulics, hardware, and hand tools. Rapid technological improvements in computer and electronic components will surge the demand for powders of non-ferrous metals such as titanium and aluminium powdered metals during the forecast period.
The powder metallurgy has a raw material utilization rate higher than 95% compared to machining, which uses only about 50% of the raw materials. In addition, the energy required to produce 1kg of the finished product is the lowest for powder, customization as per client need, is attracting the vendors to invest will boost the market.
Furthermore, factors like high capital investment and complexity in obtaining 3D shapes and the requirement for expensive metal powder feed stocks is expected to restrict the market growth during forecasted period.
Advances in Powder Metallurgy Technology:
4 recent advancements are added in the powder metallurgy market on 29th may 2019 will increase the market demand, includes:
• Advances in Automotive Manufacturing
• Ultra-High-Temperature Sintering
• Breaking the SMC Barrier
• Metal Additive Manufacturing
On 22 October 2019 US-based plastic parts provider, GKN Powder Metallurgy Acquires FORECAST 3D to expand additive manufacturing Capabilities to Include Plastics. Acquisition builds off rapid success of HP Metal Jet technology, links businesses that successfully leverage HP 3D printing solutions in metal and plastic. This step influences the company progress positively.
Powder Metallurgy Market Segment analysis:
By the Application segment, automotive application of powder metallurgy, is expected to dominate the market during forecast period. Automotive segments accounted for largest market share of XX% with market value of XX Bn globally. Use of powder for metal increase self-lubricating property and controlled porosity, helps to filter gases and liquid. Furthermore, flexibility to produce mechanical parts like, metal-non-metals and metal-metal combination is performed by using powder metallurgy. Powder metallurgy's applications are primarily targeting on engine parts, gearbox parts, and brake systems. Its upcoming applications comprise of interconnector, H2 storage, high-performance magnets, and battery parts like anode and cathode are probably to include in the application of powder metallurgy. Numerous key players are showing their interest in Powder Metallurgy market to expand and is considered as the most demanding sector by end-users, expected to boost the market.
Powder Metallurgy Market Regional Analysis:
Regionally, Asia Pacific is expected to dominate the Powder Metallurgy market and is expected to grow at an estimated CAGR of XX % during the forecast period along with increasing disposable income. Developing countries like, japan, china India have boosted the market growth owing to increase in manufactures and plants for machinery and tools across the world expected to drive the market demand in this region. For instance, the number of manufacturing plants in the country is increasing with investments from manufacturers across the world. This is expected to increase the demand for powder metallurgy in the production of machinery and tools. Japanese aerospace industries are growing, will contribute in the market growth. Japan is into manufacturing the F-35A next-generation fighter jet and other military aircraft, firming the foundation of aerospace manufacturing in the country
The objective of the report is to present a comprehensive analysis of the Global Powder Metallurgy Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Powder Metallurgy Market dynamics, structure by analysing the market segments and project the Global Powder Metallurgy Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Powder Metallurgy Market make the report investor’s guide.
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Scope of Powder Metallurgy Market
Global Powder Metallurgy market, By Material
Global Powder Metallurgy market, By Application
• Electrical and Electronics
• Business Machines
Global Powder Metallurgy Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Powder Metallurgy Market,
• SHW AG, SMC Powder Metallurgy
• Sumitomo Electric Company Ltd
• Hitachi Chemical Company Ltd
• H.C. Starck, Schunk Group
• Fine Sinter Company Ltd
• Melrose Industries PLC
• GKN Hoeganaes
• FORECAST 3D
• AMES S.A
• Miba AG.
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