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How Large Will The Powder Metallurgy Market Be By 2025?
There has been significant growth in the powder metallurgy market size in recent times. It's projected to increase from $4.12 billion in 2024 to $4.43 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. This growth during the historic period can be tied to the advancement in materials for renewable energy, industrial machinery and automation sectors, the rise of additive manufacturing, the creation of specialized alloys, and increased demand in the consumer electronics sector.

In the forthcoming years, the market size of powder metallurgy is anticipated to witness robust growth, escalating to $6.41 billion in 2029, with a compound annual growth rate (CAGR) of 9.7%. This expansion in the forecast period is anticipated to be propelled by the transition towards sustainable manufacturing, advancements in additive manufacture, the uptake of powder metallurgy in the aerospace sector, and the creation of high-performance alloys. Key trends projected for the forecast period involve industrial applications and machinery, emphasis on sustainable practice and recycling, the consumer electronics sector, medical apparatus and implants, as well as renewable energy infrastructure.

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What Are The Major Driving Forces Influencing The Powder Metallurgy Market Landscape?
The surge in the utilization of additive manufacturing is projected to propel the expansion of the powder metallurgy market. Often referred to as 3D printing, additive manufacturing is a digitally regulated procedure that produces 3D items by continuously layering monomeric materials. It plays a crucial role in powder metallurgy. This technique involves the use of metal or metal alloy powders to build objects layer by layer. The need for additive manufacturing increases the requirement for more metal powders, thus boosting the demand for powder metallurgy. For instance, the National Center for Biotechnology Information, a US government-funded entity, reports that additive manufacturing globally contributes an estimated $667 million in value-added, making up 0.01% of the total global manufacturing value-added. In the United States alone, this value-added amounts to roughly $241 million. Consequently, the escalating use of additive manufacturing is anticipated to spur the growth of the powder metallurgy market.

Who Are The Top Players In The Powder Metallurgy Market?
Major players in the Powder Metallurgy 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)

What Are The Key Trends Shaping The Powder Metallurgy Industry?
The increasing prominence of product innovation is witnessed as a major trend gaining in the powder metallurgy market. The leading companies in the market are consistently introducing new offerings to maintain their market stance. For example, in July 2022, EOS GmbH, which is a German company specializing in laser sintering 3D printing technology, unveiled its product, EOS NickelAlloy HAYNES for use in additive manufacturing machines. Characterized as a precipitation-enhanced nickel-base superalloy, it brings together high temperature strength, thermal stability, and fabricability, hence marking the final stage of the powder metallurgy process. The common applications for this material include components for gas turbines, turbomachinery, aerospace and rocket engines, and also those used in the energy sector. Notably, EOS NickelAlloy HAYNES 282 is recognized for its superior ductility and minimal strength.

Market Share And Forecast By Segment In The Global Powder Metallurgy Market
The powder metallurgy market covered in this report is segmented –
1) By Material: Titanium, Nickel, Steel, Aluminum, Cobalt, Other Materials
2) By Process: Additive Manufacturing, Metal Injection Molding, Powder Metal Hot Isostatic Pressing
3) By Type: Ferrous, Non-Ferrous
4) By Application: Aerospace and Defense, Automotive, Medical and Dental, Oil and Gas, Other Applications

Subsegments:
1) By Titanium: Titanium Powder, Titanium Alloy Powder
2) By Nickel: Nickel Powder, Nickel Alloy Powder
3) By Steel: Stainless Steel Powder, Carbon Steel Powder, Low Alloy Steel Powder
4) By Aluminum: Aluminum Powder, Aluminum Alloy Powder
5) By Cobalt: Cobalt Powder, Cobalt Alloy Powder
6) By Other Materials: Copper Powder, Molybdenum Powder, Iron Powder, Others

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Powder Metallurgy Market Regional Insights
In 2024, the Asia-Pacific region led in the powder metallurgy market. North America, on the other hand, is projected to exhibit the most rapid growth in the coming years. The report on the powder metallurgy market takes into account various regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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