Do you understand the powder metallurgy market? The current powder metallurgy market, as an important branch of the manufacturing industry, is gradually emerging and attracting widespread attention and interest. Powder metallurgy is a highly specialized technology that utilizes metal powders and a powder metallurgy process to press the powder into the desired shape and then solidify it through high-temperature sintering into metal parts with excellent properties. The rapid growth of this field is driven by the needs of the manufacturing industry as it provides manufacturers with innovative, efficient and high-performance solutions.

In the following articles, we will delve into various aspects of the powder metallurgy market, including its application areas, technology developments, market trends, and future prospects. Whether you are new to the powder metallurgy industry or are an industry expert, we hope this article has provided you with valuable information and insights. Let’s learn about the wonderful world of powder metallurgy market.

Powder metallurgy market analysis

The global powder metallurgy market size is expected to be US$19.83 billion in 2023, and is expected to reach US$24.93 billion by 2028, with a compound annual growth rate of 4.68% during the forecast period (2023-2028).

In 2020, COVID-19 had a negative impact on the market. However, the market is currently estimated to have reached pre-pandemic levels and is expected to grow steadily going forward.

The increasing use of powder metallurgy by automotive OEMs is one of the major factors driving the market.

On the other hand, rising costs of raw materials and tools may slow down the market growth.

The increasing popularity of powder metallurgy technology in the medical field is also expected to bring market opportunities in the coming years.

Asia Pacific leads the powder metallurgy market and is expected to have the highest growth rate in the coming years.

Powder metallurgy industry segmentation

Powder metallurgy is a manufacturing method that uses less energy, has better performance and more design options than traditional methods such as casting, forging, extrusion, stamping and machining. The powder metallurgy market is segmented by product type, application, and geography. By product type, the market is segmented into ferrous metals and non-ferrous metals. By application, the market is segmented into automotive, industrial machinery, electrical and electronics, aerospace, and other applications. The report also covers market size and forecast for 15 countries across key regions. For each segment, the market size and forecast are based on revenue (USD million).

Segmentation	Main application
Car manufacturer	Engine parts, gears, clutches, braking systems, etc.
Aerospace	Aero engine parts, aircraft structural parts, missiles, etc.
Electronic equipment	Electronic heat sinks, connectors, sensors, electronic packaging, etc.
medical equipment	Medical device parts, artificial joints, dental instruments, etc.
Construction machinery	Excavator parts, transmission systems, hydraulic parts, etc.
Atomic energy and nuclear industry	Nuclear reactor components, radioactive waste treatment equipment, etc.
Electric power industry	Generator components, power transformers, transmission lines, etc.
tool making	Power tools, hand tools, knives, saw blades, etc.

Materials insights

The steel industry will hold the largest revenue share by 2022 with over 46.0%. Steel is considered one of the cheapest materials for additive manufacturing and can also be mixed with other metals such as bronze, titanium and aluminum. Steel is low-cost and readily available, and its utilization in printing large-scale products, including machines, frames, and transportation equipment, is expected to increase in the coming years. Other applications for steel include spare parts and fully functional components.

Emerging applications for steel powder in aerospace, construction, mechanical engineering, and various other industries are expected to further increase its demand. For example, in September 2020, Outokumpu announced that it had selected SMS group to provide an atomization plant for the production of stainless steel powders used in additive manufacturing. By developing and distributing this sustainable material, Outokumpu aims to attract new customer groups.

The other materials segment includes metals such as iron, copper, zinc, molybdenum, tungsten, magnesium and chromium. Utilization of these metals in manufacturing, chemicals, oil & gas, general, and other industries is expected to positively impact the market. For example, copper and copper-based alloy powders have excellent electrical conductivity properties, which makes them suitable for a variety of electrical and electronic applications.

Powder metallurgy market trends

Automotive applications will dominate the market

Powder metal parts can have great control over how porous they are and can self-lubricate, allowing them to filter gases and liquids. Therefore, powder metallurgy is a very good method for manufacturing parts with complex bends, depressions and protrusions.

This flexibility to develop machine parts with different compositions, such as metal-non-metal and metal-metal combinations, enables the production of automotive parts with high dimensional accuracy and ensures consistent performance and dimensions with virtually no scrap and material waste.

Bearings and gears are the most common vehicle parts manufactured through powder metallurgy processes. The process is also used on a large number of parts in vehicles, including chassis, steering, exhaust, transmission, shock absorber parts, engines, batteries, seats, air filters, brake discs and more.

Auto parts are made from a variety of metals, such as ferrous metals (iron, steel, alloy steel and stainless steel) and non-ferrous metals (copper, bronze, aluminum alloys and titanium alloys). The focus of powder metallurgy is to improve the net shape, use heat treatment, perform special surface treatments, and improve accuracy.

According to a report from the European Automobile Manufacturers Association (ACEA), in the first three quarters of 2022, global passenger car production was approximately 50 million units, an increase of nearly 9% compared with the same quarter in 2021.

In addition, the China Association of Automobile Manufacturers said that from December 2021 to December 2022, the number of new energy vehicles made in China increased by 96.9%. Hence, the expanding electric vehicle market is expected to increase market demand over the forecast period.

Due to these factors, the demand for powder metallurgy in the automotive sector is increasing.

Asia Pacific will dominate the market

The Asia-Pacific region has become one of the most important powder metallurgy markets and a top destination for manufacturers as its economies continue to grow and people have more money to spend.

In recent years, positive economic growth trends in countries such as China, India, and Japan have driven demand for powder metallurgy products and applications.

China has the world's largest automobile production base, according to the China Association of Automobile Manufacturers (CAAM). In 2022, China's automobile production is expected to reach 27 million vehicles, an increase of 3.4% from 26 million vehicles in 2017.

In the first seven months of 2022, national automobile production reached 14.57 million units, a year-on-year increase of 31.5%.

Furthermore, the Society of Indian Automobile Manufacturers (SIAM) said that the Indian automobile industry will produce 22,933,230 vehicles in the fiscal year 2021-22 (April 2021 to March 2022), compared with the March 2020) production volume was 22,655,609 units.

Additionally, the aerospace industry in the region is growing significantly. For example, Boeing's "Business Outlook 2022-2041" predicts that by 2041, China will deliver 8,485 new aircraft, with a market service value of US$545 billion, thus driving market growth.

Therefore, Asia Pacific is likely to dominate the market during the forecast period due to the above-mentioned factors.

Frequently asked questions about the powder metallurgy market

Q: In what fields is powder metallurgy widely used?

Answer: Powder metallurgy is widely used in automobile manufacturing, aerospace, electronic equipment, medical equipment, engineering machinery, atomic energy and nuclear industry, electric power industry, tool manufacturing and other fields. It is used to manufacture various parts and components, such as engine parts, gears, electronic radiators, medical equipment, excavator parts, nuclear reactor parts, generator parts, etc.

Q: How to ensure the quality of powder metallurgy parts?

A: The quality of powder metallurgy parts is regulated by strict quality control and testing procedures. This includes raw material quality control, monitoring of the sintering process, non-destructive testing, dimensional measurements and material property testing. Manufacturers generally follow international standards and industry norms to ensure the quality of components.

Q: Is powder metallurgy technology environmentally friendly?

Answer: Powder metallurgy technology is relatively environmentally friendly because it can reduce waste generation, improve material utilization, and also reduce energy consumption. However, during powder preparation, some powders may involve chemical processing, requiring appropriate handling and disposal to ensure environmental protection.

Q: What are the future trends of the powder metallurgy market?

A: The powder metallurgy market is expected to continue to grow, especially in the automotive, aerospace, medical equipment and electronics sectors. Future trends may include more sustainable practices, the development of new materials, the integration of 3D printing with powder metallurgy, and an increase in customized production. This market will continue to be driven by technological innovation and expanding application areas.

Outsourced solutions for all your powder metallurgy needs

H&Z is well versed in powder metallurgy, a sophisticated process for manufacturing complex metal parts. Over the years, we have been committed to continuously improving this process, and with the help of hundreds of years of accumulated technical experience, we have become one of the leading companies in metal injection molding technology.

Powder metallurgy is a highly specialized process used to manufacture semi-dense and fully dense parts. We use two main process methods, one is the traditional pressing and sintering method, and the other is the innovative metal injection molding process. The use of these processes enables us to provide customers with high-quality metal parts to meet the needs of various application fields.

Powder Metallurgy Market Size Analysis