Powder Metallurgy Components Market Size, Share, Trends and Future Growth Predictions To Forecast 2018 – 2026
June 10, 2019 by alok
Powder metallurgy is used to process powdered feedstock to manufacture various types of components across several industries globally. Powder metallurgy is a preferred manufacturing process for various structured parts due to its cost effectiveness. These components are used in various applications such as transmission components, belt pulleys, and engine parts. Powder metallurgy components are also utilized to manufacture filters that require greater strength and shock resistance. These components are employed in the production of machinery parts such as gears, bushes, bearings, sprockets, rotors, and magnets. Additionally, powder metallurgy components are used to manufacture hardware, business machines, household appliances, industrial motors, hydraulics, and hand tools. Rapid technological advancements in electronic and computer components is likely to increase the demand for aluminum and titanium-based powder metals during the forecast period.
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Based on product, the Powder Metallurgy Components Market has been classified into ferrous metals and non-ferrous metals. The ferrous metals segment has been further sub-segmented into iron and steel. The non-ferrous metals segment has been further bifurcated into aluminum and others (including copper, nickel, cobalt, and tungsten). The ferrous metals segment leads the global powder metallurgy components market. In terms of application, the global powder metallurgy components market has been categorized into automotive, medical, industrial, aerospace, and others (including electrical & electronics). High fuel efficiency through improvement in engine performance, weight reduction, and alternative or supplemental power systems is boosting the demand for powder metallurgy components in the automotive segment. Additionally, increase in production of electric motors and small sintered parts for the usage in various industrial machineries is expected to propel the demand for powder metal components in the industrial segment during the forecast period. Rise in usage of powder metals in the manufacture of airframe and engine structures, components, and assemblies is anticipated to propel the demand for these components in aerospace applications during the forecast period.
Based on region, the global powder metallurgy components market has been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global powder metallurgy components market, followed by Asia Pacific. The powder metallurgy components market in Asia Pacific and the U.S. has been expanding significantly owing to the increase in automotive output and government initiatives for reducing carbon emissions. Technological breakthrough in the development of powdered metal for additive manufacturing has opened up new avenues for advancements in several industries such as aerospace and automotive. This is expected to create lucrative opportunities for the market players across the globe in the next few years. The market in Asia Pacific is anticipated to expand at a significant CAGR owing to the growth in automobile and electrical & electronic industries. China and India are major consumers of powder metallurgy components. The market in emerging economies is likely to expand at a substantial pace, while that in developed economies in Europe is anticipated to expand at a moderate pace during the forecast period. Sales of powder metallurgy components are anticipated to be moderate in Latin America and Middle East & Africa during the forecast period. However, capacity expansion by various automakers and increase in demand for industrial machinery are estimated to propel the market in these regions.
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The report analyzes and forecasts the powder metallurgy components market at the global and regional levels. The market has been projected in terms of volume (tons) and value (US$ Mn) for the period from 2018 to 2026. The study includes drivers and restraints of the global powder metallurgy components market. It also covers the anticipated impact of these drivers and restraints on the demand for powder metallurgy components during the forecast period. The report highlights opportunities for the expansion of the powder metallurgy components market at the global and regional levels.
The report comprises detailed value chain analysis, which provides a comprehensive view of the global powder metallurgy components market. The Porter’s Five Forces model for the powder metallurgy components market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein product and application segments have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global powder metallurgy components market by segmenting it in terms of product, application, and region. These segments have been analyzed based on the present and future trends. Regional segmentation includes the current and forecast demand for powder metallurgy components in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual application segments of the market in every region.
The study includes profiles of major companies operating in the global powder metallurgy components market. Key players profiled in the report are GKN Hoeganaes, Sumitomo Electric Company Ltd, and Hitachi Chemical Company Ltd, American Axle & Manufacturing Holdings, Inc. (Metaldyne Performance Group), Fine Sinter Co Ltd, SHW AG, and Stackpole International Inc. These players account for a major share of the global powder metallurgy components market. Brand promotions and launch of new products are likely to increase sales of powder metallurgy components in the next few years. Market leaders look for measures such as strategic pricing and product improvement to increase their market share.
The report provides size (in terms of volume and value) of the global powder metallurgy components market for the base year 2017 and the forecast for the period between 2018 and 2026. Market numbers have been estimated based on product, application, and regional segments. Market size and forecast for each product and application segment have been provided for the global and regional markets.
Global Powder Metallurgy Components Market, by Product
Global Powder Metallurgy Components Market, by Application
Global Powder Metallurgy Components Market, by Region
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