The global powder metallurgy components market size was evaluated at $2.83 billion in 2023 and is slated to hit $6.83 billion by the end of 2032 with a CAGR of nearly 10.30% between 2024 and 2032.
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Powder metallurgy is a broad phrase that refers to the process of producing various components or parts from metal powders. Powder metallurgy is a low-cost technology for producing net-shaped, precision steel products. Powder metallurgy components are increasingly used in a variety of industry applications, including automotive, aerospace, and industrial.
The global powder metallurgy components market is expected to develop the fastest in the coming years, owing to a thriving automotive sector around the world. The growing demand for electric vehicles is predicted to expand the applications of powder metallurgy components, hence driving the worldwide powder metallurgy components market. Furthermore, rising demand for electronic devices is expected to increase consumption of titanium and aluminum-based components, boosting the powder metallurgy components market.
However, the high capital expenditure required for powder metallurgy processing equipment may limit the future growth of this global market. Alternatively, developments in various powder metallurgy component production methods are projected to open up new potential opportunities for the market.
A complete value chain analysis is included in this research to provide readers with a comprehensive perspective of the powder metallurgy components market. To better understand the competitive landscape in the industry, the study includes an analysis of Porter’s Five Forces model for the powder metallurgy components market. The study includes a market attractiveness analysis, in which all segments are benchmarked based on market size, growth rate, and overall attractiveness.
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The Global Powder Metallurgy Components Market is segmented based on product, application and region
Global Powder Metallurgy Components Market: Product Segment Analysis
● Ferrous Metals
● Non-Ferrous Metals
Global Powder Metallurgy Components Market: Application Segment Analysis
● Industrial
● Automotive
● Aerospace
● Medical
● Electrical and Electronics
● Others
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The global Powder Metallurgy Components market profiles key players such as:
● Fine Sinter
● PMG Holding
● GKN Hoeganaes
● Schunk Group
● Porite Group
● Hitachi Chemical
● AMES
● Metaldyne Performance
● SMC Powder Metallurgy
● Stackpole International
● Miba
● H.C. Starck
● Sumitomo Electric
Powder Metallurgy Components Market: Regional Analysis
Europe, North America, Latin America, Asia Pacific, the Middle East, and Africa make up the regional classification.
The North American powder metallurgy components market dominated the global market in 2018, owing to the region’s expanding automotive industry. The Asia Pacific powder metallurgy components market is expected to develop at the fastest CAGR throughout the forecast period, driven by rising demand for powder metallurgy in a variety of industrial applications, including the production of power tools and components.
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