Industry Background:
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.
According to AMA, the market for Powder Metallurgy is expected to register a CAGR of 6.4% during the forecast period to 2026. This growth is primarily driven by Rising Demand for Machinery Manufacturing and High Demand for Iron Powder.
Globally, a noticeable market trend is evident Growing Adoption for 3D Printing
. The Chemicals sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as 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) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.
Market Drivers
- Rising Demand for Machinery Manufacturing
- High Demand for Iron Powder
Market Trend
- Growing Adoption for 3D Printing
- Increasing Demand for Fuel-efficient Vehicles
Restraints
- High capital investment Associated with Powder Metallurgy
Opportunities
Huge Demand due to Advancement in Powder Metallurgy and Increasing Demand from End-User Industries And Due To the Strong Economic Rise
Challenges
Complexity in obtaining 3D shapes and the requirement for expensive metal powder feedstocks.
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Powder Metallurgy Study Sheds Light on
The Powder Metallurgy Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Powder Metallurgy industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Powder Metallurgy industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.