Powder Metallurgy Parts Market Report 2025

The powder metallurgy parts market size has grown strongly in recent years. It will grow from $26.94 billion in 2024 to $28.97 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to automotive industry demand, cost-effective manufacturing, metal powder innovations, environmental sustainability, expansion of end-use industries.

The powder metallurgy parts market size is expected to see strong growth in the next few years. It will grow to $36 billion in 2029 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to electric vehicles market growth, customization and complex geometries, increased aerospace applications, demand for lightweight materials, rising healthcare industry usage. Major trends in the forecast period include tungsten alloys usage, quality standards and certification, global supply chain challenges, collaborative research and development, rise in electric vehicle production.

The increasing global demand for electric vehicles is anticipated to drive the growth of the powder metallurgy parts market in the future. Electric vehicles are powered either fully or partially by electricity and utilize an electric motor instead of a traditional combustion engine. Powder metallurgy parts, including soft magnetic components, are utilized in electric motors, helping to eliminate the risk of laminations. Consequently, the growth of electric vehicles will lead to a heightened demand for powder metallurgy parts. For instance, in April 2023, the International Energy Agency, a France-based autonomous intergovernmental organization, reported that over 10 million electric cars were sold globally in 2022, with sales projected to increase by an additional 35% in 2023, reaching 14 million. Therefore, the rising demand for electric vehicles is driving the expansion of the powder metallurgy parts market.

The increasing demand within the aerospace industry is expected to be a driving force behind the growth of the powder metallurgy parts market. The aerospace industry, encompassing the design, development, production, and maintenance of aircraft, spacecraft, and related systems, utilizes powder metallurgy parts to achieve benefits such as lightweight construction, complex geometries, material efficiency, precision, cost-effective mass production, reduced machining requirements, improved performance characteristics, and the exploration of innovative material combinations. As of August 2023, the aerospace industry's revenue, according to Cadrex, a US-based company, reached $741 billion in 2022, marking a 3% increase from the previous year. Therefore, the escalating demand in the aerospace industry contributes significantly to the growth of the powder metallurgy parts market.

Major companies in the powder metallurgy parts market are concentrating on product innovations, such as bonded mix solutions, to enhance compaction efficiency, enabling the production of larger and more complex components with improved density distribution and minimized material waste. A bonded mix solution enhances compaction efficiency by providing high apparent density and excellent filling performance without the inclusion of metal stearates. For instance, in October 2024, Höganäs AB, a Sweden-based producer of powdered metals, introduced Starmix Nova, a new bonded mix solution aimed at improving compaction efficiency by offering high apparent density and superior filling performance without metal stearates. This innovation facilitates the creation of larger, geometrically complex components with better density distribution, while also extending tool life and ensuring cleaner, more sustainable sintering processes.

Major companies in the powder metallurgy parts market are concentrating on strategic partnerships to enhance their capabilities. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. For example, in October 2023, Gränges Powder Metallurgy (GPM), a France-based company that specializes in spray-formed aluminum products and aluminum powders for additive manufacturing, joined forces with Delva Oy, a Finland-based firm focused on industrial metal additive manufacturing, to develop high-performance aluminum alloys. This partnership aims to deliver innovative solutions across various sectors, including high-precision industrial automation, aerospace, satellite technology, military and defense, as well as demanding applications like hydraulics, optical structures, laser systems, and pumps.

In January 2022, Powder Metal Goldschmidt, a Germany-based provider of powder metallurgy parts, acquired Yangzhou Leader Powder Metallurgy Co. Ltd. in a deal of undisclosed value. This acquisition is expected to strengthen and expand Powder Metal Goldschmidt's presence in China and enhance its product portfolio in the dynamic Chinese market. Yangzhou Leader Powder Metallurgy Co., Ltd., based in China, is a manufacturer of powder metallurgy products serving the automotive industry.

Major companies operating in the powder metallurgy parts market include Sumitomo Electric Industries Ltd., Allegheny Technologies Inc., AMETEK Inc., Carpenter Technology Corporation, Daido Steel Co. Ltd., Diamet Corporation, DOWA Electronics Materials Co. Ltd., Eramet SA, H C Starck GmbH, Hitachi Chemical Co. Ltd., JFE Steel Corporation, Kennametal Inc., Miba AG, PMG Holding GmbH, Rio Tinto Metal Powders, Allied Sinterings Inc., American Sintered Technologies, AMES Reese Inc., Atlas Pressed Metals, Baxter Machine & Tool Co., Burgess-Norton Manufacturing Co., Catalus Corporation, Cloyes Gear & Products Inc., Compax Inc., Engineered Sintered Components Company, fine-sinter Co. Ltd., FMS Corporation, GKN Sinter Metals, Gorham Inc., Hittco Tools Limited, Hoeganaes Corporation, Horizon Technology, Keystone Powdered Metal Company, Liberty Pressed Metals LLC, Melrose Industries PLC, Metal Powder Products Company, Metaldyne Performance Group, Metco Industries Inc., NetShape Technologies Inc.

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

Powder metallurgy parts are components created with precision and high accuracy by pressing powdered metals and alloys into a rigid die under intense pressure. These parts find application in structural metal components.

The primary product types within the realm of powder metallurgy parts include ferrous metals and non-ferrous metals. Ferrous metals are metals primarily composed of iron and possess magnetic properties. The fabrication methods employed include pressure-based, sinter-based, and hybrid methods, which cater to various industries such as industrial, automotive, healthcare, electrical and electronics, among others.

The powder metallurgy parts market research report is one of a series of new reports that provides powder metallurgy parts market statistics, including powder metallurgy parts industry global market size, regional shares, competitors with powder metallurgy parts market share, detailed powder metallurgy parts market segments, market trends, and opportunities, and any further data you may need to thrive in the powder metallurgy parts industry. This powder metallurgy parts 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 parts market consists of sales of structural parts, electromagnetic assemblies, engine components, gears, and bushings. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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