What Has Been Powder Metallurgy Market in Recent Years?
The powder metallurgy market has seen considerable growth due to a variety of factors.
• In recent years, there has been a notable expansion in the powder metallurgy market. The market, which was worth $4.12 billion in 2024, is projected to escalate to $4.5 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.3%.
Factors such as advancements in materials for renewable energy, the expansion of industrial machinery and automation, the advent of additive manufacturing, the creation of specialized alloys, and the increasing demand for consumer electronics have all contributed to the growth witnessed in the historical period.
What is the Forecasted Market Size and CAGR for the Powder Metallurgy Market?
The powder metallurgy market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for powder metallurgy is projected to witness substantial growth in the following years, elevating to a value of $6.69 billion by 2029, with a compound annual growth rate (CAGR) of 10.4%.
The anticipated growth over the forecast period is driven by a shift towards environmentally-friendly manufacturing practices, advancements in additive manufacturing, an increase in the use of powder metallurgy in the aerospace sector, and the creation of high-performance alloys. Key trends to watch in this period include its industrial and machinery applications, a greater emphasis on sustainability and recycling, usage in the consumer electronics field, application in medical devices and implants, as well as its role in the renewable energy infrastructure.
What Key Factors and Trends are Driving the Growth of the Powder Metallurgy Market?
The forecasted expansion of the powder metallurgy market is anticipated to be fueled by the rising acceptance of additive manufacturing. Additive manufacturing, also known as 3D printing, is a computerized assembly procedure that creates three-dimensional items through the stacked layers of monomeric materials. This manufacturing method is a key component of powder metallurgy. During the additive manufacturing procedure, metallic or metal alloy powders are utilized to build items, one layer at a time. This increased utilization of additive manufacturing necessitates greater quantities of metallic powders subsequently driving the demand for powder metallurgy. For example, the National Center for Biotechnology Information, a US government-funded agency, reports that globally, additive manufacturing contributes an estimated $667 million in value, which corresponds to 0.01% of the aggregate global manufacturing value. In the US, this added value is about $241 million. Consequently, the escalating usage of additive manufacturing is envisaged to fuel the expansion of the powder metallurgy market.
What Are The Principal Market Segments In The Global Powder Metallurgy Healthcare Industry?
The powder metallurgy market covered in this report is segmented –
1) By Material: Titanium, Nickel, Steel, Aluminum, Cobalt, Other Materials
2) By Process: Additive Manufacturing, Metal Injection Molding, Powder Metal Hot Isostatic Pressing
3) By Type: Ferrous, Non-Ferrous
4) By Application: Aerospace and Defense, Automotive, Medical and Dental, Oil and Gas, Other Applications
Subsegments:
1) By Titanium: Titanium Powder, Titanium Alloy Powder
2) By Nickel: Nickel Powder, Nickel Alloy Powder
3) By Steel: Stainless Steel Powder, Carbon Steel Powder, Low Alloy Steel Powder
4) By Aluminum: Aluminum Powder, Aluminum Alloy Powder
5) By Cobalt: Cobalt Powder, Cobalt Alloy Powder
6) By Other Materials: Copper Powder, Molybdenum Powder, Iron Powder, Others
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Which Emerging Market Trends Are Altering The Powder Metallurgy Market?
The emergence of product innovations is an important trend being observed in the powder metallurgy industry. In an effort to maintain their market presence, principal companies in the powder metallurgy market are consistently bringing forth innovative offerings. An example of this can be seen when EOS GmbH, a laser sintering 3D printing technology enterprise based in Germany, introduced EOS NickelAlloy HAYNES for additive manufacturing machines in July 2022. This newly produced nickel-based superalloy, which happens to be a result of the powder metallurgy process, has been fortified through precipitation. It merges superior strength at high temperatures with thermal stability and formability. This material is commonly used in parts for gas turbines, turbomachinery, and aerospace and rocket engines, as well as those applied in the energy sector. The EOS NickelAlloy HAYNES 282 boasts high malleability and modest strength.
Who Are the Key Players in the Powder Metallurgy Market?
Major companies operating in the powder metallurgy market include:
• GKN Powder Metallurgy
• Höganäs AB
• Sumitomo Electric Industries Ltd.
• Sandvik AB
• Miba AG
• Hitachi Chemical Co. Ltd.
• Carpenter Technology Corporation
• Fine Sinter Co. Ltd.
• PMG Holding GmbH
• Allegheny Technologies Incorporated (ATI)
• Stackpole International
• Porite Corporation
• Shanghai Malin Metal Products Co. Ltd.
• H.C. Starck GmbH
• RYOBI Limited
• Advanced Technology & Materials Co. Ltd.
• AAM (American Axle & Manufacturing)
• Catalus Corporation
• Burgess-Norton Manufacturing Company
• Riken Corporation
• Nippon Piston Ring Co. Ltd.
• Precision Sintered Parts Pvt. Ltd.
• Samvardhana Motherson Group
• AMES Group Sintering
• ExOne
• Kennametal Inc.
• Höganäs North America
• Powder Alloy Corporation
• Kyocera Corporation
• FJ Sintered Metals
What are the Regional Insights into the Powder Metallurgy Market?
Asia-Pacific was the largest region in the powder metallurgy market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the powder metallurgy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
