Stratview Research has published a new report titled “Powder Metallurgy Market” which is segmented by Material Type (Titanium, Nickel, Steel, Aluminum, Cobalt, and Others), by Process Type (Additive Manufacturing, Metal Injection Molding, and Powder Metal Hot Isostatic Pressing), by Application Type (Aerospace & Defense, Automotive, Medical & Dental, Oil & Gas, and Industrial), by End-User Type (OEMs and AM Operators), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

As per the study, Powder Metallurgy Market is likely to grow from USD 2.52 billion in 2021 to USD 5.35 billion by 2028 at a CAGR of 11.26% during the forecast period of 2022-2028. Major factors such as increasing adoption of additive manufacturing coupled with the growing demand for lightweight components or parts in the aerospace, defense, and automotive sectors is expected to drive the growth of the market during the forecast period. In addition, powder metallurgy is a cost-effective process for manufacturing simple as well as complex shapes, having advantages over conventional processes. With powder metallurgy offering favorable surface finish, controlled porosity, low scrap generation, high production rate, and excellent wear resistance, the market is likely to experience favorable gains over the forecast period.

Report Highlights

This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.

The market is bifurcated into various segments. Below given is the segment-wise analysis -

Based on the material type, the market is segmented as titanium, nickel, steel, aluminum, cobalt, and others. Steel is expected to hold the major share of the market during the forecast period owing to its easy availability and low cost. In addition, the increasing use of steel powder for various applications in different industries is expected to drive the growth of the segment over the forecast period.

Based on the process type, the market is segmented as additive manufacturing, metal injection molding, and powder metal hot isostatic pressing. The powder metal hot isostatic pressing process type is expected to register substantial growth during the forecast period. The growth of the segment is driven by the increasing demand from the component manufacturing industry. Furthermore, the strong combination of enhanced raw materials coupled with the higher machining efficiency offered by PM HIP is likely to boost its demand over the forecast period.

Based on the application type, the market is segmented as aerospace & defense, automotive, medical & dental, oil & gas, and industrial. The aerospace & defense application segment is estimated to account for the major share of the market during the forecast period. The aerospace & defense industry's ability to endure high initial costs and its adaptability to new technologies are driving the segment's growth. Furthermore, the use of various technologies in the market is likely to be driven by an innovative aerospace approach supported by the demand for complex geometric structures, consequently driving the growth of the segment over the forecast period.

Who are the Key Players in the Market?

This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Powder Metallurgy Market:

  • Advanced Technology & Materials Co., Ltd.
  • CRS Holdings Inc.
  • GKN Plc.
  • Hitachi Chemical Company Ltd.
  • Höganäs AB
  • Molyworks Materials Corporation
  • Rio Tinto Metal Powders
  • Rusal
  • Sandvik AB
  • Sumitomo Electric Company Ltd.

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