Powder Metallurgy Market Report 2025

The powder metallurgy market size has grown strongly in recent years. It will grow from $4.12 billion in 2024 to $4.5 billion in 2025 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to advancements in materials for renewable energy, industrial machinery and automation, emergence of additive manufacturing, development of specialized alloys, rise in consumer electronics demand.

The powder metallurgy market size is expected to see rapid growth in the next few years. It will grow to $6.69 billion in 2029 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to shift towards sustainable manufacturing, advancements in additive manufacturing, adoption of powder metallurgy in aerospace, development of high-performance alloys. Major trends in the forecast period include industrial applications and machinery, focus on sustainability and recycling, consumer electronics sector, medical devices and implants, renewable energy infrastructure.

The growing adoption of additive manufacturing is anticipated to propel the expansion of the powder metallurgy market in the future. Also known as 3D printing, additive manufacturing is a computer-controlled method for producing three-dimensional objects by depositing successive layers of monomeric materials. This process plays a crucial role in powder metallurgy, as it utilizes metal powders or metal alloy powders to create objects layer by layer. The increased adoption of additive manufacturing necessitates a higher demand for metal powders, thereby driving the need for powder metallurgy. For example, the National Center for Biotechnology Information, a U.S. government-funded organization, reports that globally, additive manufacturing generates an estimated $667 million in added value, which accounts for 0.01% of the total global manufacturing value added. In the United States, this added value is approximately $241 million. Consequently, the rising adoption of additive manufacturing is expected to fuel the growth of the powder metallurgy market.

The powder metallurgy market is expected to benefit from the growing demand in the automotive industry. Powder metallurgy is utilized in the automotive sector to produce complex-shaped components with intricate designs, facilitating self-lubrication and reducing friction and wear in moving parts such as bearings. The global production of motor vehicles reached 85.4 million units in 2022, showing a significant increase of 5.7% compared to the previous year. The automotive sector achieved approximately 78 million unit sales in 2022, marking a substantial 10% increase. Consequently, the rising demand in the automotive industry is contributing to the growth of the powder metallurgy market.

Product innovations are a key trend gaining popularity in the powder metallurgy market. Major companies operating in this market are continuously innovating to maintain a competitive edge. For instance, in July 2022, EOS GmbH, a Germany-based company specializing in laser sintering 3D printing technology, introduced EOS NickelAlloy HAYNES for additive manufacturing machines. This nickel-base superalloy, produced through the powder metallurgy process, combines high-temperature strength with thermal stability and fabricability. It finds applications in components for gas turbines, turbomachinery, aerospace and rocket engines, and the energy sector. EOS NickelAlloy HAYNES 282 boasts high ductility and low strength.

Major companies in the powder metallurgy market are focusing on introducing advanced solutions such as high-performance tap solutions to enhance their competitiveness. High-performance tap solutions are sophisticated tools designed for creating internal threads in a workpiece, offering superior performance, precision, and durability compared to standard taps. For example, in July 2023, Erasteel, a US-based company specializing in powder metallurgy and high-speed steel, launched BlueTap Max. This high-performance tap solution, crafted from high-performance PM HSS (Powder Metallurgy High-Speed Steel) grades, delivers excellent mechanical properties and corrosion resistance, ensuring outstanding performance, longevity, and reliability.

In January 2022, PMG Group, a Germany-based manufacturer of automotive powder metallurgy parts, acquired Yangzhou Leader Powder Metallurgy Co. Ltd. in an undisclosed deal. This strategic acquisition aims to expand PMG's presence and network in China, enhancing its ability to serve customers effectively in the Chinese market. Yangzhou Leader Powder Metallurgy Co. Ltd. is a China-based manufacturer specializing in powder metallurgy components and parts.

Major companies operating in the powder metallurgy market include GKN Powder Metallurgy, Höganäs AB, Sumitomo Electric Industries Ltd., Sandvik AB, Miba AG, Hitachi Chemical Co. Ltd., Carpenter Technology Corporation, Fine Sinter Co. Ltd., PMG Holding GmbH, Allegheny Technologies Incorporated (ATI), Stackpole International, Porite Corporation, Shanghai Malin Metal Products Co. Ltd., H.C. Starck GmbH, RYOBI Limited, Advanced Technology & Materials Co. Ltd., AAM (American Axle & Manufacturing), Catalus Corporation, Burgess-Norton Manufacturing Company, Riken Corporation, Nippon Piston Ring Co. Ltd., Precision Sintered Parts Pvt. Ltd., Samvardhana Motherson Group, AMES Group Sintering, ExOne, Kennametal Inc., Höganäs North America, Powder Alloy Corporation, Kyocera Corporation, FJ Sintered Metals.

Asia-Pacific was the largest region in the powder metallurgy market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the powder metallurgy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the powder metallurgy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Powder metallurgy is a metal-forming method that involves pressing and sintering metal powder to achieve the desired shape of the metal product. This process is cost-effective, requires minimal post-production processing, and is energy-efficient. The powder metallurgy process allows for precise control and customization of the metal characteristics according to specific requirements.

In powder metallurgy, the main types of materials include titanium, nickel, steel, aluminum, cobalt, and others. Titanium is particularly valued in aerospace, spacecraft, and missile applications due to its low density and heat resistance. Being a naturally occurring metal and the 9th most abundant on Earth, titanium is both strong and lightweight, making it suitable for alloy production through powder metallurgy processes. These processes include additive manufacturing, metal injection molding, and powder metal hot isostatic pressing. Titanium finds applications in aerospace and defense, automotive, medical and dental, oil and gas, and various other industries.

The powder metallurgy market research report is one of a series of new reports that provides powder metallurgy market statistics, including powder metallurgy industry global market size, regional shares, competitors with a powder metallurgy market share, detailed powder metallurgy market segments, market trends and opportunities, and any further data you may need to thrive in the powder metallurgy industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The powder metallurgy market includes revenues earned by entities by iron powder, steel powder, and nonferrous powder. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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