Powder Metallurgy Market Outlook – 2028
Powder metallurgy is a process in which components or materials are manufactured or produced by metal powders. Powder metallurgy is mainly used for manufacturing of unique component, which are impossible to manufacture from melting or forming from other ways such as tungsten carbide. Powder metallurgy reduces the yield losses in manufacturing and gives the lower cost products. It is a time saving, cost-effective and effort-free method. It converts the starting material into required powder form and then stick the powder to form a desirable unique product. Additionally, powder metallurgy is used in manufacturing of inert parts of machines such as rotors, gears, bearings, bushings and magnets. Major industries using powder metallurgy are aerospace, automotive and electronics & electrical.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the global powder metallurgy market.
- As a result of the global economic slowdown caused by the pandemic, the demand for automotive products has decreased dramatically. This has caused a steep fall in the demand for powder metallurgy in the automotive segment. Since maximum engine parts such as gear pulley, alternator, and engine body are made up from powder metallurgy.
- Moreover, because of the decrease in disposable income among the consumers, the demand for electronic appliances and gadgets has also decreased exponentially and this has a direct impact on the powder metallurgy market.
- Aerospace is the biggest consumer of powder metallurgy and aerospace is the highly impacted sector. Due to which powder metallurgy demand also decreased, owing to which there is huge decline in the powder metallurgy market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The growing manufacturing of automotive, medical, defense and aerospace acts as an excellent driver for the powder metallurgy market. Maximum parts of engine in automotive and aerospace are made up of metal powder, which boosts the market of powder metallurgy. Moreover, advancement in electrical & electronics components are expected to impel in powder metallurgy and thus, by using non-ferrous metal in their component from powder metallurgy also boost the powder metallurgy market. In oil and gas exploration, diamond cutting tool is used maximally which is mainly made by powder metallurgy. A variety of metals, including ferrous (steel, iron, alloy) and non-ferrous (bronze, aluminum, copper) can be used different industries by molding and re-molding them into a desire shape with the help of powder metallurgy.
In terms of market share, the Europe region is dominant in the global powder metallurgy market because of the largest automotive industry in Germany. The market in North America region is also expected to grow at a significant pace because of the presence of a massive electronics sector and advancement of technologies in aerospace and defense the region.
Key benefits of the report:
- This study presents the analytical depiction of the global powder metallurgy market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global powder metallurgy market share.
- The current market is quantitatively analyzed to highlight the global powder metallurgy market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global powder metallurgy market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the powder metallurgy market research report:
- Which are the leading market players active in the powder metallurgy market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Powder Metallurgy Market Report Highlights
By Manufacturing Process
Key Market Players
Hitachi Chemical Co., Ltd., Hoganas AB, BASF SE, Miba AG, Carpenter Technology Corp., GKN Sinter Metals Engineering Gmb, Arcam AB, GKN Plc, ExOne GmbH, Materialize NV, Porite Europe S.A.S., Fine-Sinter Co., Ltd.