Global Powder Metallurgy Components Market Is Expected To Reach $6.83 Billion By 2032

Zion Market Research has published a new report titled “Powder Metallurgy Components Market By Product (Ferrous Metals and Non-Ferrous Metals) and By Application (Automotive, Aerospace, Medical, Industrial, Electrical & Electronics, and Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024 – 2032”. According to the report, the global powder metallurgy components market was $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.

Powder metallurgy is a term that covers a broad variety of aspects where different components or parts are produced from various kinds of metal powders. Powder metallurgy components find its applications across a wide range of sectors like automotive, aerospace, and electrical and electronics. The global powder metallurgy components market is projected to grow at the highest rate in the next few years, owing to the flourishing automotive industry across the globe. The rising demand for electric vehicles is further expected to enhance the applications of powder metallurgy components, thus fuelling the powder metallurgy components market globally.

Additionally, the surging demand for electronic products is likely to enhance the consumption of titanium and aluminum-based components, thereby, propelling the powder metallurgy components market. However, high capital investment for powder metallurgy processing equipment may hinder this global market’s growth in the future.

Browse the full “Powder Metallurgy Components Market By Product (Ferrous Metals and Non-Ferrous Metals) and By Application (Automotive, Aerospace, Medical, Industrial, Electrical & Electronics, and Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024 – 2032?” Report at https://www.zionmarketresearch.com/report/powder-metallurgy-components-market

The powder metallurgy components market is divided based on product and application. Based on the product, the powder metallurgy components market is classified into ferrous metals (steel and iron) and non-ferrous metals (tungsten, copper, aluminum, and others). Ferrous metals contributed the maximum share to the global market in 2018 and are expected to maintain their dominance in the upcoming years as well. This can be attributed to the increased use of ferrous metals in the automotive and aerospace industries. Moreover, the non-ferrous metals segment is expected to grow at the highest rate over the upcoming years.

By application, the market includes electrical and electronics, automotive, medical, aerospace, industrial, and others. The automotive segment contributed the largest share to the powder metallurgy components market globally in 2018. The constantly developing automotive industry across the globe is estimated to further boost the applications of powder metallurgy components in the automotive sector. The industrial segment is expected to grow at a fast rate in the years ahead.

The North American powder metallurgy components market dominated globally in 2018, due to the region’s growing automotive industry. The Asia Pacific powder metallurgy components market is projected to show the highest CAGR over the projected time period, owing to the growing demand for powder metallurgy for a wide range of industrial applications, to produce power tools and components.

Powder Metallurgy Components Market: Competitive Space

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

This report segments the global powder metallurgy components market into:

Global Powder Metallurgy Components Market: Product Analysis

• Ferrous Metals
  • Iron
  • Steel
• Non-Ferrous Metals
  • Aluminum
  • Copper
  • Tungsten
  • Others

Global Powder Metallurgy Components Market: Application Analysis

• Industrial
• Automotive
• Aerospace
• Medical
• Electrical and Electronics
• Others

Global Powder Metallurgy Components Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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