The rise in demand for automotive components made from powder metallurgy is expected to the drive the powder metallurgy market in the near future.

WILMINGTON, DELAWARE, UNITED STATES, October 16, 2023 /EINPresswire.com/ -- The global market for Powder Metallurgy Market estimated at US$ 6.4 Bn in the year 2020, is projected to reach a revised size of US$ 14.4 Bn by 2031, growing at a CAGR of 7.7% over the analysis period 2021-2031.

Powder metallurgy is a unique metal forming method that involves the transformation of metals into powdered form, offering a wide array of applications in diverse industries. This versatile technique is employed in the creation of materials used in industrial equipment, hardware, hydraulics, hand tools, and even everyday household items like ceiling fans and kitchen appliances. Notably, the automotive industry has embraced powder metallurgy, witnessing substantial growth and innovation within this sector.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3468

The surge in the automotive domain is a driving force behind the global powder metallurgy market's expansion. Powder metallurgy is increasingly being recognized as an effective alternative to traditional machining or casting for manufacturing components in the automotive sector. In regions focused on enhancing fuel efficiency, the demand for powder metallurgy has surged, aligning with the broader automotive industry's efforts to develop lightweight vehicles, explore new materials, and employ innovative techniques such as metal injection molding, metal powder forging, and warm compaction.

Powder metallurgy components are integral to the creation of numerous automotive parts, presenting significant growth opportunities for market players. Furthermore, this transformative technique is not limited to the automotive industry alone; its applications extend to aerospace, electrical, medical, and energy sectors. With the rising adoption of powder metallurgy across these diverse industries, the market is poised for continuous growth.

In summary, powder metallurgy offers a pivotal role in metal processing, delivering lightweight, high-performance components that contribute to the development of cost-effective, safe vehicles. The automotive industry's increasing reliance on powder metallurgy, along with its expanding applications in other sectors, underscores the potential for growth in the global powder metallurgy market.

Key Highlights

Powder metallurgy is being used more and more by automotive OEMs, which is one of the main things driving the market.

On the other hand, rising costs of raw materials and tools are likely to slow the market’s growth.

In the coming years, market opportunities are also expected to come from the growing use of P/M techniques in the medical field.

The Asia-Pacific region led the market for powder metallurgy, and it is expected to have the highest growth rate over the next few years.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=3468

Major players operating in the global powder metallurgy market are:

• GKN Sinter Metal Engineering GmbH
• Sumitomo Electric Industries, Ltd
• H.C. Starck Tungsten Powders
• Sandvik AB
• Showa Denko Materials Co., Ltd
• Advanced Powders & Coatings
• ExOne GmbH

Market Segmentation

By Material
o Iron Powder
o Steel Powder
o Nonferrous Powder

By End-use

o Automotive
o Electrical & Electronics
o Industrial
o Aerospace
o Others (Cosmetic, Nutritional, and Decorative)

𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲? 𝐀𝐬𝐤 𝐎𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭𝐬: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=3468

By Technology

o Direct Reduction
o Gas Atomization
o Others (Liquid Atomization, Centrifugal Atomization, Milling, Mechanical Alloying, and Electrolysis)

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -

Developments in Restorative Material Market Progress Trends and Growth Opportunities  

Sales Insect Growth Regulator Market 2022-2031

Nikhil Sawlani
Transparency Market Research Inc.
+1 518-618-1030
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