What is the current size and annual growth rate of the powder metallurgy market?
The powder metallurgy market size has grown strongly in recent years. It will grow from $4.12 billion in 2024 to $4.5 billion in 2025 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to advancements in materials for renewable energy, industrial Metal & Construction and automation, emergence of additive manufacturing, development of specialized alloys, rise in consumer electronics demand.
The powder metallurgy market size is expected to see rapid growth in the next few years. It will grow to $6.69 billion in 2029 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to shift towards sustainable manufacturing, advancements in additive manufacturing, adoption of powder metallurgy in aerospace, development of high-performance alloys. Major trends in the forecast period include industrial applications and Metal & Construction, focus on sustainability and recycling, consumer electronics sector, medical devices and implants, renewable energy infrastructure.
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How has the powder metallurgy market evolved, and what factors have shaped its growth?
The increasing adoption of additive manufacturing is expected to drive the growth of the powder metallurgy market going forward. Additive manufacturing, also called 3D printing, is a computer-controlled process of manufacturing 3D objects by depositing repetitive layers of monomeric materials. Additive manufacturing is an important aspect of powder metallurgy. In an Additive manufacturing process, metal powders or metal alloy powders are used creates objects layer upon layer. The adoption of additive manufacturing required more metal powers which increase the demand for powder metallurgy. For instance, according to the National Center for Biotechnology Information, a US-based government funded organization, worldwide, additive manufacturing contributes an estimated $667 million in value added, representing 0.01% of the total global manufacturing value added. In the United States, this value added is approximately $241 million. Therefore, increasing adoption of additive manufacturing is expected to drive the growth of the powder metallurgy market.
What are the major segments of the powder metallurgy market?
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 companies dominate 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
How will evolving trends contribute to the growth of the powder metallurgy market?
Product innovations are a key trend gaining popularity in the powder metallurgy market. Major companies operating in the powder metallurgy market are constantly innovating to sustain themselves in the market. For instance, in July 2022, EOS GmbH, a Germany-based laser sintering 3D printing technology company launched EOS NickelAlloy HAYNES for additive manufacturing machines. It is a nickel-base superalloy that has been precipitation-strengthened. It combines high-temperature strength with thermal stability and fabricability. It is the final product of the powder metallurgy process. Components for gas turbines, turboMetal & Construction, and aerospace and rocket engines, as well as those used in the energy sector, are typical applications for the material. EOS NickelAlloy HAYNES 282 has high ductility and low strength.
What are the key regional dynamics of the powder metallurgy market, and which region leads in market share?
The countries covered in the powder metallurgy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Powder Metallurgy Market Report 2025 Offer?
The powder metallurgy market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Powder metallurgy is a metal-forming method in which metal powder is pressed and sintered to give the desired shape to the metal. It is a cost-effective process, requires very little post-production processing, and is energy-efficient. The metal characteristics of products can be controlled and tailored as per need using the powder metallurgy process.
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