According to the current analysis of Reports and Data, the global powder metallurgy components market was valued at USD 23.07 Billion in 2020 and is expected to reach USD 41.81 Billion by the year 2028, at a CAGR of 7.9%. Powder Metallurgy (PM) is the technology used for producing mechanical parts from metal and other powders. More recently, the vast majority of the manufacturing of industrial parts is based on PM manufacturing methods. PM components in the automotive sector are in high demand on an international scale due to the cost-benefit and functional flexibility they provide. PM sector, for the electrical machinery industry as components, power tools, hydraulic equipment, motors, and magnetic components, can supply directly or indirectly. The applications for powder metallurgy components can be bifurcated into two main groups. The first group involves the parts that are difficult to be manufactured by any other method, such as those made from molybdenum, tungsten, or tungsten carbide. Filters, porous bearings, and different types of hard and soft magnetic components are exclusively made with PM technology. The second group involves PM components that offer a cost-effective alternative to castings, machined parts, and forgings.
Top Companies Operating in the Global Powder Metallurgy Components Market:
Fine Sinter, PMG Holding, GKN Hoeganaes, Schunk Group, Porite Group, Hitachi Chemical, AMES, Metaldyne Performance, SMC Powder Metallurgy, Stackpole International, Sumitomo Electric
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Further key findings from the report suggest
· As of 2020, ferrous metals is the leading type segment of the global Powder Metallurgy Components This segment is projected to register the significant growth during the forecast period due to its rising preference in end-use applications
· The ferrous metals type powder metallurgy components segment has also shown the highest growth rate of 7.96% and is expected to maintain the position during the forecast period
· The automotive application of powder metallurgy components accounted for the most significant market share in 2020. It is projected to maintain its lead with a CAGR of 7.89% during the forecast period
· The aerospace application segment is the fastest-growing segment, registering the highest CAGR followed by the automotive segment which held the chief position in the powder metallurgy components market
· The Asia-Pacific region accounted for the most significant market share in 2020 with a growth rate of 8.62%. This region is proposed to remain the dominant regional segment during 2020-2028. The China country is the fastest-growing economy, which is projected to drive the global Powder Metallurgy Components market.
· Both North America and Europe regions are forecasted to show significant growth over the coming years
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Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Powder Metallurgy Components Market Segmentation
Product Type (Revenue, USD Million; Volume in Tons, 2020–2028)
- Ferrous Metals
- Iron
- Steel
- Non-Ferrous Metals
- Aluminum
- Copper
- Tungsten
- Others
Preparation Process (Revenue, USD Million; Volume in Tons, 2020–2028)
- Mechanical Pulverisation
- Electrolytic Process
- Chemical Reduction
- Atomization
Fabrication Method (Revenue, USD Million; Volume in Tons, 2020–2028)
- Pressure-based
- Sinter-based
- Hybrid
Application (Revenue, USD Million; Volume in Tons, 2020–2028)
- Industrial
- Automotive
- Transmission
- Engine Parts
- Others
- Aerospace & Defense
- Healthcare
- Electrical & Electronics
- Others
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