The Powder Metallurgy Global Market Report 2023 by The Business Research Company, provides powder metallurgy market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Powder Metallurgy Global Market Report 2023, the market size is expected to grow from$3.54 billion in 2022 to $3.97 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of powder metallurgy is expected to grow to $6.03 billion in 2027 at a CAGR of 11.0%.
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.
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The powder metallurgy market 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
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 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, turbomachinery, 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.
The powder metallurgy market report table of contents includes:
1. Executive Summary
2. Powder Metallurgy Market Characteristics
3. Powder Metallurgy Market Trends And Strategies
4. Powder Metallurgy Market – Macro Economic Scenario
5. Powder Metallurgy Market Size And Growth
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26. Africa Powder Metallurgy Market
27. Powder Metallurgy Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Powder Metallurgy Market
29. Powder Metallurgy Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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