/EINPresswire.com/ -- WELLESLEY, MA --(Marketwired - February 08, 2016) - The powder metallurgy (PM) industry has grown steadily in the past 30 years, with metal powder-based parts driving much of the growth. BCC Research reveals in its new report that new opportunities have emerged in the forms of non-metallic particulate materials used in conjunction with metal powders. These materials will enable the PM industry to produce more complex components with special properties.

Powder metallurgy is a cost-effective process for forming metal parts by heating compacted metal powders to just below their melting points. PM production methods can be used to fabricate large numbers of parts with complex shapes that meet demanding specifications. Unlike conventional machining, PM creates very little scrap or waste.

The global market for powder shipments reached 3.3 billion pounds ($8 billion) in 2015 and should approach 4.3 billion pounds ($13.5 billion) in 2020. These figures represent a five-year CAGR of 5.1% in volume terms and a 10.9% rise in market value. Meanwhile, shipments of powder metal-based parts and components are expected to grow from almost 2.9 million pounds ($19.1 billion) in 2015 and increase to 3.8 million pounds ($31.2 billion) in 2020.

The PM industry, which was severely affected by the 2008-2009 recession during which automotive production decline severely, has recovered. By 2014, it surpassed pre-recession levels as PM shipments approached nearly 3.2 billion pounds with a value of almost $8.4 billion.

The volume of aluminum powder shipped is projected to grow at a five-year CAGR of 7.8%. The automotive, aerospace, industrial and recreational products industries, all of which use much aluminum, are experiencing renewed growth. Parts made with aluminum powder are also expected to increase at near the same rate.

Copper, nickel and tin should experience growth rates in a range of 6.9% to 8% during the forecast period. The demand for tungsten and molybdenum powders should experience five-year CAGRs at somewhere between 4.5% and 6.1%. Global consumption of particulates and other advanced powders, although still relatively small, could see growth of around a five-year CAGR of 13% as new applications are developed and commercialized.

"The PM industry has seen steady growth since the 1980s, with much of this growth derived from metal powder-based parts used to replace castings, forgings and machined parts," says BCC Research analyst Andrew McWilliams. "PM technology is still evolving, and the industry has adopted particulates, i.e., powders and materials not made solely of metals. Manufacturing capability will be improved and expanded to accommodate new and better products. These products tie in with the improved overall growth of the PM industry over the forecast period."

Powder Metallurgy: Technologies and Global Markets (AVM007M) examines the global PM industry, including manufacturing capability and consumption by regional markets. Industry standards, government and industry support, and other key factors related to the success of PM also are reviewed. Analyses of global market drivers and trends, with data from 2014, estimates for 2015, and projections of five-year CAGRs through 2020 are provided.

About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world's greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email information@bccresearch.com.

Editors and reporters who wish to speak with the analyst should contact
Steven Cumming
steven.cumming@bccresearch.com