IMARC Group, a leading market research company, has recently releases report titled “Powder Metallurgy Market Report by Type (Ferrous, Non-Ferrous), Material (Titanium, Steel, Nickel, Aluminum, and Others), Manufacturing Process (Additive Manufacturing, Powder Bed, Blown Powder, Metal Injection Molding, Powder Metal Hot Isostatic Pressing, and Others), Application (Automotive, Aerospace, Electrical and Electronics, Oil and Gas, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the global powder metallurgy market report.
How Big Is the Powder Metallurgy Market?
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.
Industry Overview of Powder Metallurgy
Powder metallurgy is a manufacturing process that involves the production of metal parts and components from powdered metal materials. It helps to create complex and intricate shapes with high precision. It enables the formation of parts with intricate geometries that would be challenging or even impossible to achieve through conventional machining methods. Additionally, powder metallurgy allows for the incorporation of alloying elements, enhancing the properties of the final product. It generates minimal waste since nearly all the powdered material can be used, reducing material waste and associated costs. It also lowers energy consumption, as it typically requires less energy inputs compared to traditional metalworking techniques. As it is a highly efficient and resource-conserving process, the demand for powder metallurgy is increasing across the globe.
Request Sample Copy of This Report: https://www.imarcgroup.com/powder-metallurgy-market/requestsample
What are the growth prospects and trends in the powder metallurgy industry?
The growing demand for lightweight materials in the automotive and aerospace industries to improve fuel efficiency and reduce emissions represents one of the key factors offering a favorable market outlook. Powder metallurgy offers the ability to create strong yet lightweight components, making it a crucial solution for these sectors. Besides this, the rising need for cost-effective and high-performance parts in the automotive industry is leading to a rise in the use of powder metallurgy.
Components like gears, bearings, and bushings, which are integral to automobiles, can be efficiently produced through this method. Additionally, powder metallurgy is an energy-efficient process compared to traditional machining techniques. As energy conservation is becoming more critical in manufacturing, there is a rise in the adoption of powder metallurgy across various industries. Moreover, key manufacturers are increasingly seeking customized and complex-shaped components.
Powder metallurgy allows for the creation of intricate parts with high precision, meeting the demands of diverse sectors, such as healthcare, electronics, and industrial. Furthermore, ongoing research and development (RD) activities are leading to the development of new and improved powder materials, including advanced alloys and metal matrix composites.
Leading Companies Operating in the Global Powder Metallurgy Industry:
- 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.
Powder Metallurgy Market Report Segmentation:
The report has segmented the market into the following categories:
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
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
Browse Other Research Reports:
Global Mining Drills & Breakers Market
