Global Powder Metallurgy Market by Material (Steel, Titanium), by End-use (OEMs, AM Operators) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global powder metallurgy was worth USD 2.1 billion in 2019. It is projected to grow at a compound annual rate (CAGR of 11.6%) between 2020 and 2027. This market growth can be attributed mainly to the rising demand from many end-use industries, particularly the aerospace and defense sector.

In the U.S., the market is expected to grow due to the increasing use of additive manufacturing in the medical, automotive and aerospace & defence sectors. Lima Corporate, an American-based company, has already sold hip cup implants made using additive manufacturing. The company also announced it would open an additive manufacturing plant on the premises of a New York hospital by 2020.

Some limitations in powder metallurgy are expected to slow down the market's rapid growth. The metal powder is more expensive than other raw materials that are used for casting and forging. When the production volume required is low, tooling and equipment costs can be quite high.

PM processes aren't yet efficient enough to produce large components and parts. These drawbacks limit their use in component manufacturing. Due to the spread of COVID-19 around the globe, these products could see a low demand in 2020-2021.

This has caused many manufacturing industries to reduce output and stop production. It is also resulting in a lower demand for metal or powder. The impact on metal prices has been severe since March 2020. Copper prices dropped 22% in March compared to the beginning of 2019. Similar trends were observed in nickel, zinc and lead, as well as tin, molybdenum and cobalt.

Application Insights

Aerospace was the most popular application segment and held 51% of global revenue share in 2019. The demand for 3D printing materials to create high-performance, cost-effective aircraft parts is expected to rise due to increased awareness of the significant weight and cost savings made by various manufacturers. Low-volume manufacturing has seen a positive effect, particularly in aerospace. This will likely lead to an increase in demand for additive manufacturing.

In 2019, the industrial application was the second largest volume share in the global powder metalurgy market. Segment growth is driven by increasing industrial output and increased energy needs. Market vendors will have many opportunities in the future thanks to rapid prototyping and on-site manufacturing.

The highest expected CAGR for the medical and dental sector is predicted to be over the forecast period due to increasing health consciousness. The dental industry uses powder metallurgy to make patient-friendly dental products such as partial dentures and crowns.

Process Insights

In 2019, metal injection molding (MIM), which accounted for 46% of the market's volume, was followed by powder metal hot isostatic pressing (PM HIP), and additive manufacturing. This trend will be reversed by 2027 when additive manufacturing will become the largest shareholder.

MIM has been highly in demand for a long time and can produce large quantities of complex-shaped parts at high manufacturing precision. The combination of high-quality raw materials and excellent machining efficiency will drive PM HIP demand in the future.

Powder bed can be further divided into blown powder and powder bed, with powder bed accounting for a greater share of the additive manufacturing process. Powder bed employs sintering, melting techniques while blown powder uses laser-engineered net shaping and laser metallic deposition.

End-use Insights

In 2019, the OEM segment accounted for 70% of the market share. This trend will likely continue in the future. Large-scale OEMs in the aircraft industry are investing heavily in metal 3D printing to produce aeronautical parts. This is expected to have a positive impact on market growth. The AM operators segment can be divided into offline and online operators. Online AM operators will outperform, as outsourcing production of metal parts via online platforms is a trend.

Online 3D printing services have gained popularity because they streamline the ordering process via online platforms and reduce the overall production time. Traditional offline 3D printing services, on the other hand, require significant pre-production work as well as constant communication with suppliers. This delays the final production.

Material Insights

In 2019, the steel segment was responsible for 44% of the total market. In 2019, the steel segment accounted for the largest share of over 44%. Metal is also available in combination with other metals such as bronze. This increases the metal's demand.

The fastest expected growth rate for titanium is predicted to be over the forecast period. Because titanium is widely used in aerospace parts production, the demand for it, particularly in additive manufacturing, is directly tied to its growth. Due to increased air travel, the demand for commercial aircraft is expected increase at twice the rate in the next 20 year. This will also boost the demand for titanium.

Nickel, which accounts for the second largest market share in terms of revenue, is another important material. Nickel-based alloys are highly sought after due to their exceptional corrosion and thermal-fatigue characteristics that make them ideal for additive manufacturing technologies such as selective laser melting or direct metal laser sintering.

Regional Insights

North America was responsible for 37.3% of the total revenue in 2019, which is the highest. The strong presence of major producers in the region is expected to keep it at the top of the list for the foreseeable future. It also had the highest share of 3D-printed titanium components.

In 2019, Europe was the second largest market. Market growth is expected to be boosted by favorable government policies in Europe over the forecast period. Europe hosted a May 2016 conference to promote 3D printing technology in the region. Market growth is expected to be fueled by increased funding for research and development, as well as standardization of technology.

Germany was the European market leader in 2019 and continues to be a major country in industrialization and adoptions of new technologies. It boasts 148 research institutions dedicated to additive manufacturing development, which will play an important role in driving market growth in Europe.

The COVID-19 pandemic is expected to halt or decrease the growth of all regional market during 2020-21. China will recover and resume operations in the second quarter 2020, as the virus's impact has been decreasing in China.

Market Share Insights & Key Companies

To gain a competitive edge, major companies follow key strategies such as mergers & Acquisitions and capacity expansions. The increasing demand for powder metalurgical products by different industries has prompted raw material producers to increase their production capacity in order to keep up with market growth.

Epson Atmix Corp., for the production of amorphous alloy powder, installed a new production line in Japan's Kita-Inter Plant in May 2019. The company spent Y=800million (USD 7.43million) to install the new line. It plans to increase its production capacity by adding stages, and reaching 6,000 tons annually by 2023. The following are some of the most prominent players in powder metallurgy:

• Arcam AB

• Carpenter Technology Corp.

• ExOne GmbH

• GKN Plc

• Hoganas AB

• Materialize NV

Up Market Research published a new report titled “Powder Metallurgy Market research report which is segmented by Material (Steel, Titanium), by End-use (OEMs, AM Operators), By Players/Companies Carpenter Technology Corp, Arcam AB, ExOne GmbH, H¶gan¤s AB, Materialize NV, GKN Plc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Powder Metallurgy Market Report Segments:

The market is segmented by Material (Steel, Titanium), by End-use (OEMs, AM Operators).

Powder Metallurgy Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Powder Metallurgy Market

Overview of the regional outlook of the Powder Metallurgy Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Powder Metallurgy Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Powder Metallurgy Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Steel

                2. Titanium

                1. OEMs

                2. AM Operators

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Powder Metallurgy Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
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Reasons to Purchase the Powder Metallurgy Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.