Global Powder Metallurgy Market Size, Drivers, Trends, Opportunities And Strategies – Includes Powder Metallurgy Market Analysis
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The increasing adoption of additive manufacturing are expected to drive innovation in powder metallurgy manufacturing, thus driving the market during the forecast period.
The global powder metallurgy market is expected to grow from $3.54 billion in 2022 to $3.97 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The powder metallurgy market size is expected to grow to $6.03 billion in 2027 at a CAGR of 11.0%.
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Global Powder Metallurgy Market Segments Include:
- By Material:Titanium, Nickel, Steel, Aluminum, Cobalt, Other Materials
- By Process:Additive Manufacturing, Metal Injection Molding, Powder Metal Hot Isostatic Pressing
- By Type:Ferrous, Non-Ferrous
- By Application:Aerospace and Defense, Automotive, Medical and Dental, Oil and Gas, Other Applications
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global powder metallurgy market in 2021.
Major Market Players in the powder metallurgy market include Carpenter Technology Corporation, ExOne GmbH, GKN PLC., Hoganas AB, Materialize NV, BASF SE, GKN Sinter Metals Engineering Gmb.
Product innovations are a key trend gaining popularity in the powder metallurgy market. Major companies operating in the powder metallurgy market are constantly innovating to sustain themselves in the market. For instance, in July 2022, EOS GmbH, a Germany-based laser sintering 3D printing technology company launched EOS NickelAlloy HAYNES for additive manufacturing machines. It is is a nickel-base superalloy that has been precipitation-strengthened. It combines high-temperature strength with thermal stability and fabricability. It is the final product of the powder metallurgy process. Components for gas turbines, turbomachinery, and aerospace and rocket engines, as well as those used in the energy sector, are typical applications for the material. EOS NickelAlloy HAYNES 282 has high ductility and low strength.
The Powder Metallurgy Global Market Report 2023 provides a powder metallurgy market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The powder metallurgy market forecast analyzes powder metallurgy market size, powder metallurgy market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Powder metallurgy is a metal-forming method in which metal powder is pressed and sintered to give the desired shape to the metal. It is a cost-effective process, requires very little post-production processing, and is energy-efficient. The metal characteristics of products can be controlled and tailored as per need using the powder metallurgy process.
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