Powder Metallurgy Component Market To Double By 2035, Reaching USD 69.4 Billion TMR Analysis
(MENAFN- EIN Presswire)
The powder metallurgy component market is anticipated to grow at a CAGR of 6.5% during the forecast period, owing to the growing demand for powder metal components in the automotive industry. The automotive industry is looking for lightweight high-performance components to improve fuel efficiency and reduce emissions in conventional vehicles.
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Powder metallurgy components meet those demands. Likewise, in the transition of the automotive industry toward electric vehicles, powder metallurgy components have a major role to play. Powder metallurgy components manufacturing involves nearly 97% consumption of the raw materials, unlike other manufacturing processes. This reduces wastage.
Asia-Pacific accounts for a significant percentage of market share owing to the presence of large automotive companies, increasing demand for high-performance materials, and industrialization in many emerging economies. With advancements in additive manufacturing, the demand for powder metallurgy components is anticipated to increase during the forecast period.
Market Segmentation
The market can be segmented by various factors, providing a comprehensive view of its landscape:
By Material Type: The market is primarily dominated by ferrous metal powders, especially iron and steel, due to their excellent mechanical properties and cost-effectiveness. The non-ferrous segment includes materials like aluminum, copper, tungsten, and molybdenum, which are valued for their specific properties such as high thermal and electrical conductivity, and corrosion resistance.
By Manufacturing Process: Key processes include:
Press and Sinter: This is the most common and traditional method, accounting for a large portion of the market.
Metal Injection Molding (MIM): This process is used for creating small, complex, and high-precision parts.
Additive Manufacturing (AM) or Metal 3D Printing: A rapidly growing segment that allows for the creation of intricate geometries with minimal material waste.
By Application: The automotive industry remains the largest end-user, accounting for a significant share of the market. PM components are used in engine and transmission parts like gears, sprockets, and bearing caps. Other key applications include:
Aerospace & Defense: For lightweight, high-strength parts in aircraft engines and other critical systems.
Industrial Machinery: In power tools, industrial motors, and lawn & garden equipment.
Medical & Dental: For orthopedic implants and surgical instruments, leveraging the biocompatibility and precision of PM.
Electrical & Electronics: For components in computers, telecommunications equipment, and electric vehicle batteries.
Regional Analysis
The market's growth is geographically diverse, with different regions showing unique strengths.
Asia-Pacific is the largest and fastest-growing region, holding nearly 50% of the global market share. This is driven by rapid industrialization, a strong presence of automotive and aerospace industries, and government initiatives that encourage private investment in manufacturing.
North America is also a significant market, known for its advanced aerospace, automotive, and medical industries. The region benefits from strong R&D activities and a high adoption rate of additive manufacturing.
Europe is another prominent market, driven by the focus on reducing vehicle emissions and developing lightweight automotive parts.
Market Drivers and Challenges
Drivers
Growing Demand from the Automotive Industry: The shift towards electric vehicles (EVs) and the need for fuel efficiency in conventional vehicles are driving the demand for lightweight and high-strength PM components.
Advancements in Additive Manufacturing: The increasing use of metal 3D printing is expanding the applications of PM, allowing for the production of complex geometries that are difficult to achieve with traditional methods.
Cost-Effectiveness and Material Utilization: PM is an efficient process that produces near-net-shape components, significantly reducing material waste and post-processing costs. The energy required to produce a finished product is also much lower than with machining.
Challenges
High Initial Investment: The cost of tooling and equipment for certain PM processes can be substantial, which may be a barrier for new entrants.
Competition from Alternative Technologies: The market faces competition from other manufacturing processes like casting, forging, and traditional machining.
Fluctuating Raw Material Prices: The price of metal powders can be volatile, impacting the overall production cost.
Market Trends
Focus on Sustainability: The industry is increasingly focused on developing sustainable practices, including recycling metal powders and reducing energy consumption.
Development of New Alloys: Ongoing research and development are leading to the creation of new high-performance alloys with improved properties, suitable for demanding applications in aerospace and medical sectors.
Miniaturization: The demand for smaller, more precise components in the electronics and medical industries is propelling the growth of processes like MIM.
Integration of Industry 4.0: The adoption of automation, robotics, and digital technologies is enhancing the efficiency and precision of PM manufacturing processes.
Future Outlook
The future of the powder metallurgy component market is bright. The continued evolution of technology, particularly in additive manufacturing and advanced sintering techniques, will unlock new applications and markets. As industries like automotive and aerospace continue to prioritize weight reduction and performance, the demand for PM components will only increase. The focus on sustainability and the development of new, specialized materials will further cement PM's position as a key manufacturing technology for the coming decade.
Key Market Study Points
The global market is expected to nearly double in value by 2035.
The automotive sector will remain the largest end-user, with a growing emphasis on EV components.
Asia-Pacific will continue to be the dominant region.
Additive manufacturing is the fastest-growing segment, creating new opportunities for complex part production.
Key industry challenges include raw material costs and competition from other manufacturing methods.
Competitive Landscape
The powder metallurgy market is characterized by a mix of large, established players and smaller, specialized companies. Key players in the market include:
GKN Plc
Sumitomo Electric Industries Ltd
Miba AG
PMG Sinter
Schunk Group
Porite Group
AMES S.A.
Stackpole International Inc.
SHW AG
Fine Sinter Company Ltd
Other Leading Companies
These companies are investing in R&D, expanding their production capabilities, and forming strategic partnerships to maintain their competitive edge.
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Recent Developments
NASA's GRX-810 Alloy: A new alloy developed for AM parts that can withstand extreme temperatures, pushing the boundaries of what is possible for aerospace components.
Powder Recycling Systems: Companies are introducing new systems to recover and reuse metal powder, enhancing sustainability.
Advancements in Soft Magnetic Composites: Ongoing research aims to improve the efficiency of soft magnetic components for use in electric motors and other applications.
Acquisitions and Partnerships: Key players are acquiring smaller companies or forming collaborations to expand their technological capabilities and market reach, particularly in the additive manufacturing space.
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website:
Email: ...
Follow Us: LinkedIn| Twitter| Blog | YouTube
Powder Metallurgy Component Market
Powder metallurgy components find applications in aerospace and electronics.
Global Powder Metallurgy Industry Set for 6.5% CAGR Growth Through 2035” - Transparency Market Research Inc, DE, UNITED STATES, August 29, 2025 /EINPresswire / -- The global powder metallurgy component market , valued at USD 35.0 billion in 2024, is projected to reach USD 69.4 billion by 2035, expanding at a CAGR of 6.5% from 2025 to 2035. This growth is driven by rising demand across automotive, aerospace, medical, and industrial sectors, where lightweight, durable, and cost-efficient components are increasingly required for advanced manufacturing applications.The powder metallurgy component market is anticipated to grow at a CAGR of 6.5% during the forecast period, owing to the growing demand for powder metal components in the automotive industry. The automotive industry is looking for lightweight high-performance components to improve fuel efficiency and reduce emissions in conventional vehicles.
Dive Deeper into Data: Get Your In-Depth Sample Now!
Powder metallurgy components meet those demands. Likewise, in the transition of the automotive industry toward electric vehicles, powder metallurgy components have a major role to play. Powder metallurgy components manufacturing involves nearly 97% consumption of the raw materials, unlike other manufacturing processes. This reduces wastage.
Asia-Pacific accounts for a significant percentage of market share owing to the presence of large automotive companies, increasing demand for high-performance materials, and industrialization in many emerging economies. With advancements in additive manufacturing, the demand for powder metallurgy components is anticipated to increase during the forecast period.
Market Segmentation
The market can be segmented by various factors, providing a comprehensive view of its landscape:
By Material Type: The market is primarily dominated by ferrous metal powders, especially iron and steel, due to their excellent mechanical properties and cost-effectiveness. The non-ferrous segment includes materials like aluminum, copper, tungsten, and molybdenum, which are valued for their specific properties such as high thermal and electrical conductivity, and corrosion resistance.
By Manufacturing Process: Key processes include:
Press and Sinter: This is the most common and traditional method, accounting for a large portion of the market.
Metal Injection Molding (MIM): This process is used for creating small, complex, and high-precision parts.
Additive Manufacturing (AM) or Metal 3D Printing: A rapidly growing segment that allows for the creation of intricate geometries with minimal material waste.
By Application: The automotive industry remains the largest end-user, accounting for a significant share of the market. PM components are used in engine and transmission parts like gears, sprockets, and bearing caps. Other key applications include:
Aerospace & Defense: For lightweight, high-strength parts in aircraft engines and other critical systems.
Industrial Machinery: In power tools, industrial motors, and lawn & garden equipment.
Medical & Dental: For orthopedic implants and surgical instruments, leveraging the biocompatibility and precision of PM.
Electrical & Electronics: For components in computers, telecommunications equipment, and electric vehicle batteries.
Regional Analysis
The market's growth is geographically diverse, with different regions showing unique strengths.
Asia-Pacific is the largest and fastest-growing region, holding nearly 50% of the global market share. This is driven by rapid industrialization, a strong presence of automotive and aerospace industries, and government initiatives that encourage private investment in manufacturing.
North America is also a significant market, known for its advanced aerospace, automotive, and medical industries. The region benefits from strong R&D activities and a high adoption rate of additive manufacturing.
Europe is another prominent market, driven by the focus on reducing vehicle emissions and developing lightweight automotive parts.
Market Drivers and Challenges
Drivers
Growing Demand from the Automotive Industry: The shift towards electric vehicles (EVs) and the need for fuel efficiency in conventional vehicles are driving the demand for lightweight and high-strength PM components.
Advancements in Additive Manufacturing: The increasing use of metal 3D printing is expanding the applications of PM, allowing for the production of complex geometries that are difficult to achieve with traditional methods.
Cost-Effectiveness and Material Utilization: PM is an efficient process that produces near-net-shape components, significantly reducing material waste and post-processing costs. The energy required to produce a finished product is also much lower than with machining.
Challenges
High Initial Investment: The cost of tooling and equipment for certain PM processes can be substantial, which may be a barrier for new entrants.
Competition from Alternative Technologies: The market faces competition from other manufacturing processes like casting, forging, and traditional machining.
Fluctuating Raw Material Prices: The price of metal powders can be volatile, impacting the overall production cost.
Market Trends
Focus on Sustainability: The industry is increasingly focused on developing sustainable practices, including recycling metal powders and reducing energy consumption.
Development of New Alloys: Ongoing research and development are leading to the creation of new high-performance alloys with improved properties, suitable for demanding applications in aerospace and medical sectors.
Miniaturization: The demand for smaller, more precise components in the electronics and medical industries is propelling the growth of processes like MIM.
Integration of Industry 4.0: The adoption of automation, robotics, and digital technologies is enhancing the efficiency and precision of PM manufacturing processes.
Future Outlook
The future of the powder metallurgy component market is bright. The continued evolution of technology, particularly in additive manufacturing and advanced sintering techniques, will unlock new applications and markets. As industries like automotive and aerospace continue to prioritize weight reduction and performance, the demand for PM components will only increase. The focus on sustainability and the development of new, specialized materials will further cement PM's position as a key manufacturing technology for the coming decade.
Key Market Study Points
The global market is expected to nearly double in value by 2035.
The automotive sector will remain the largest end-user, with a growing emphasis on EV components.
Asia-Pacific will continue to be the dominant region.
Additive manufacturing is the fastest-growing segment, creating new opportunities for complex part production.
Key industry challenges include raw material costs and competition from other manufacturing methods.
Competitive Landscape
The powder metallurgy market is characterized by a mix of large, established players and smaller, specialized companies. Key players in the market include:
GKN Plc
Sumitomo Electric Industries Ltd
Miba AG
PMG Sinter
Schunk Group
Porite Group
AMES S.A.
Stackpole International Inc.
SHW AG
Fine Sinter Company Ltd
Other Leading Companies
These companies are investing in R&D, expanding their production capabilities, and forming strategic partnerships to maintain their competitive edge.
Buy this Premium Research Report:
Recent Developments
NASA's GRX-810 Alloy: A new alloy developed for AM parts that can withstand extreme temperatures, pushing the boundaries of what is possible for aerospace components.
Powder Recycling Systems: Companies are introducing new systems to recover and reuse metal powder, enhancing sustainability.
Advancements in Soft Magnetic Composites: Ongoing research aims to improve the efficiency of soft magnetic components for use in electric motors and other applications.
Acquisitions and Partnerships: Key players are acquiring smaller companies or forming collaborations to expand their technological capabilities and market reach, particularly in the additive manufacturing space.
Explore Latest Research Reports by Transparency Market Research:
Ammonia Market -
Green Building Materials Market -
Water Treatment Chemicals and Technology Market -
Construction Paints and Coatings Market -
Paints and Coatings Market -
Fuel Cell Market -
Hot Briquetted Iron (HBI) Market -
Liquid Polybutadiene (LPBD) Market -
HVDC Cables Market -
Pigments Market -
Precast Concrete Market -
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website:
Email: ...
Follow Us: LinkedIn| Twitter| Blog | YouTube
Atil Chaudhari
Transparency Market Research Inc.
+1 518-618-1030
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