Global Powder Metallurgy Market Overview:
Powder metallurgy (PM) refers to processes by which materials or components are made from metal powders. Powder metallurgy processes can avoid, or greatly reduce, the need to use metal removal processes, thereby drastically reducing yield losses in manufacture and often resulting in lower costs. Growing Demand for Powder Metallurgy parts in automobiles is likely to fuel over the coming years because of concerns regarding reducing vehicle weight and growing fuel economy. One key factor essential to the Powder Metallurgy industry is its low energy consumption and superior use of raw materials compared to other technologies. Automotive application to dominate the global powder metallurgy market during the forecast period. Powder metallurgy is also used to make unique materials impossible to melt or form in other ways. Some of the key players profiled in the study are American Axle & Manufacturing Inc. (United States), ATI (United States), Carpenter Technology Corporation (United States), Catalus Corporation (United States), Fine Sinter Co. Ltd (Japan), GKN Sinter Metals Engineering GmbH (Germany), HC Starck GmbH (Germany), Hitachi Chemical Co. Ltd (Japan), Hoganas AB (Sweden) and Miba AG (Austria). According to Market Analyst at AMA, the Global Powder Metallurgy market may see a growth rate of 6.4%
On the basis of geography, the market of Powder Metallurgy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by End User, the sub-segment i.e. Automotive will boost the Powder Metallurgy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Demand for Machinery Manufacturing
- High Demand for Iron Powder
- Growing Adoption for 3D Printing
- Increasing Demand for Fuel-efficient Vehicles
- High capital investment Associated with Powder Metallurgy
- Huge Demand due to Advancement in Powder Metallurgy
- Increasing Demand from End-User Industries And Due To the Strong Economic Rise
- Complexity in obtaining 3D shapes and the requirement for expensive metal powder feedstocks.
Major Market Developments:
On 16th July 2019, Allegheny Technologies Incorporated has acquired Addaero Manufacturing (Addaero), a leader in metal alloy-based additive manufacturing for the aerospace and defense industries, located in New Britain, CT.
On 24th October 2018, Carpenter Technology Corporation, Philadelphia, Pennsylvania, USA, has acquired LPW Technology Ltd for approximately 81 million dollars. LPW develops and supplies advanced metal powders and lifecycle management solutions to the metal Additive Manufacturing industry. LPW is based in Widnes, Cheshire, UK, and has additional processing operations near Pittsburgh, Pennsylvania, USA.
The powder metallurgy market is consolidated, with a few top players accounting for a major chunk of the global market. Other market players are focusing on strategic partnerships to improve their products and services. Moreover, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Government Regulatory Bodies, Government Research Organizations, Industry Associations, Private Research Organizations and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Powder Metallurgy market on the basis of product [Iron Powder, Steel Powder and Non-ferrous Powder [Aluminum, Copper, Nickel, Cobalt, Tungsten, Others]] , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Powder Metallurgy market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Powder Metallurgy industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Phoenix Sintered Metals LLC (United States), Sandvik AB (Sweden) and Sumitomo Electric Industries Ltd (Japan).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Powder Metallurgy market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.