Powder
Metallurgy Market Size and Growth Rate:
The Powder Metallurgy
Market Size should reach USD 10.9 billion by 2022 from USD 7.3 billion in 2017
at a compound annual growth rate (CAGR) of 5.2% during 2017 to 2022.
Browse 143 Pages of Research Report developed on Powder Metallurgy
Market @
Powder
Metallurgy Market Growth Drivers and Restraints:
Powder metallurgy is used for
manufacturing filters which require greater strength and shock resistance.
Additionally, it has applications in the manufacture of cutting tools and
machinery such as gears, bearings, bushes, and magnets. It is used across
business machines, household applications, hardware, hydraulics, and hand tools.
Growing advancements in the technology in electronic and computer components
are likely to propel demand for non-ferrous metal powders including
titanium-based powder and aluminum, supporting the growth of the market for
powder metallurgy over the forecast period.
Additionally, growing demand
for the spherical metallic shapes for manufacturing metal injection moulding
(MIM) or 3D-printing is boosting uptake of powder metallurgy and likely to
propel the growth of the global market.
Lower need for energy in the
consumption is leading to boost uptake of raw material and likely to fuel
growth of the global powder metallurgy market. However, high capital
requirement coupled with complexity in manufacturing 3D shapes is restraining
growth of the world market.
Powder
Metallurgy Market Geographical Segmentation:
On the basis of region, the
global powder metallurgy market is segmented into Europe, North America, Latin
America, Asia Pacific, and the Middle East and Africa. Of these, North America
dominated the globalmarket in the year 2017 and is expected to remain dominant
over the forecast period owing to higher demand for the manufacturing additives
in the region. Europe is expected to account for the second leading share in
the revenue of the world powder metallurgy market.
However, Asia Pacific is
expected to expand with the faster CAGR over the forecast period owing to
expansion of automotive sector in the developing countries present in the
region. Additionally, emerging automotive industry across developing countries
in the Middle East and Africa is also expected to witness lucrative
opportunities over the forecast period. AsiaPacific has emerged as the one
of the largest powder metallurgy markets and a key destination for the powder
metallurgy producers
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Key players of the Powder
Metallurgy Market:
Some of the players operating
in the global powder metallurgy market are GKN Hoeganaes, H.C. Starck, Sumitomo
Electric Company Ltd, Sandvik AB, and Hitachi Chemical Company Ltd. The top
three players such as Sumitomo Electric Company Ltd, GKN Hoeganaes, and Fine
Sinter Company Ltd.
Powder
Metallurgy Market Segmentation:
By
Material:
·
Ferrous
·
Non-Ferrous
By Application:
·
Automotive
·
Business Machines
·
Electrical &
Electronics
·
Aerospace
By Region:
·
North America
·
South America
·
Europe
·
Asia Pacific
·
Middle East and
Africa
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