Global Powder Metallurgy Market to Demonstrate 5.4% CAGR 2014-2020 Owing to Increased Deployment in Automotive Sector
The global powder metallurgy market has been examined in a detailed market research report recently published by Transparency Market Research. The report states that the market will exhibit a positive 5.4% CAGR from 2014 through 2020. If the prediction holds true, the market will reach a valuation of US$8.7 bn by 2020 from US$6.06 bn in 2013.The report is titled “Powder Metallurgy Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”
Powder metallurgy refers to a rapidly evolving field of technology that deals with the manufacturing materials or components from ferrous and non-ferrous metal powders. The high precision with which powder metallurgy technologies manufacture products provide components with intricate features, near net shape, and good dimensional accuracy. Powder metallurgy is also cost-effective and is used across a number of end-use industries has substantially increased over the years.
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global-powder-metallurgy-marketOver the report’s forecast period, the increased deployment of powder metallurgy techniques across manufacturing sectors in the automotive and many other heavy industries in developing regions will act as a major driving force for the global powder metallurgy market. The U.S. automotive industry will also continue to benefit the global powder metallurgy market over the forecast period. However, the market’s growth is projected to be restrained to a certain extent owing to the limitations posed by weight and size of finished parts processed by powder metallurgy applications.
For the purpose of the study, the global market has been examined from the perspective of three broad criteria: Product type, application area, and geography.
The key product types examined in the report include ferrous, non-ferrous, and other types such as cemented carbides and metal matrix composites. Of these, the ferrous powder segment accounted for a massive 70% of the global powder metallurgy market in 2013.
Major application areas for the powder metallurgy market examined in the report include automotive, electrical and electronics, industrial, and other fields such as energy and medical. Of these, the automotive sector accounted for a dominant share of 65% in the global market in 2013. The favorable growth of the automotive industry, especially in developing regions such as Asia Pacific in the past few years, has boosted demand for powder metallurgy applications.
From a geographic standpoint, the global powder metallurgy market has been studied for Asia Pacific, Europe, North America, and the Rest of the World (RoW). With a share of over 45% in the total global consumption, Asia Pacific was the largest market for powder metallurgy in 2013. Leading powder metallurgy companies are focusing on expanding their production capacities in the region with a view to benefit from the vast growth opportunities offered by the region.
Some of the most prominent vendors operating in the global powder metallurgy market profiled in the report are voestalpine AG, Sumitomo Electric Industries, Ltd., Sandvik AB, SMC Powder Metallurgy Inc., H.C. Starck, Hoganas AB, Hitachi Chemical Company, Ltd., Federal-Mogul Corporation, Fine Sinter Co., Ltd., Allegheny Technologies Incorporated, and GKN plc.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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