Powder Metallurgy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Powder Metallurgy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global powder metallurgy market size reached US$ 2.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.1 Billion by 2028, exhibiting a growth rate (CAGR) of 9.7% during 2023-2028.

Powder metallurgy (PM) refers to a group of advanced processes that involve synthesizing, processing and shaping different materials. It also comprises mixing metal and reinforcement powders, powder compaction to produce green materials, and sintering, which is generally followed by a deformation process like hot extrusion. As it reduces scrap losses by minimizing or eliminating chip removal, PM finds extensive applications in the aerospace and electronics industries across the globe.

Powder Metallurgy Market Trends:
The thriving automotive sector represents one of the key factors bolstering the growth of the market. Moreover, PM enables the manufacturing of materials with a high melting point, which is challenging to produce using the casting method. As a result, it is used in hardware, washing machines, power tools, copiers and postage meters, hunting knives, hydraulic assemblies, fuel cells, X-ray shielding, and oil and gas drilling well-head components. Apart from this, PM is utilized in the production of porous implants that increase the adhesion between the bone tissue and the implant as it is favorable for transporting body fluid. This, along with the increasing adoption of 3D printing or additive manufacturing (AM), is positively influencing the market. Furthermore, there is a rise in the use of aluminum alloys in electric module packaging, electronic technology, automotive body structure, wind, and solar energy management on account of their conductivity and high strength and processability. Besides this, market players operating in the industry are considerably investing in research and development (R&D) activities to propel their overall sales and profitability. Other factors facilitating the growth of the market include technological advancements and the rising number of air travelers around the world.

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 2023-2028. Our report has categorized the market based on type, material, manufacturing process and application.

Breakup by Type:

Ferrous
Non-Ferrous

Breakup by Material:

Titanium
Steel
Nickel
Aluminum
Others

Breakup by Manufacturing Process:

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

Breakup by Application:

Automotive
Aerospace
Electrical and Electronics
Oil and Gas
Others

Breakup by Region:

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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Sumitomo Electric Industries Ltd.

Key Questions Answered in This Report

1. What was the size of the global powder metallurgy market in 2022?
2. What is the expected growth rate of the global powder metallurgy market during 2023-2028?
3. What are the key factors driving the global powder metallurgy market?
4. What has been the impact of COVID-19 on the global powder metallurgy market?
5. What is the breakup of the global powder metallurgy market based on the type?
6. What is the breakup of the global powder metallurgy market based on the material?
7. What is the breakup of the global powder metallurgy market based on the manufacturing process?
8. What is the breakup of the global powder metallurgy market based on the application
9. What are the key regions in the global powder metallurgy market?
10. Who are the key players/companies in the global powder metallurgy market?