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The global powder metallurgy market size is expected to be worth around US$ 9.2 billion by 2030, according to a new report by Vision Research Reports.

The global powder metallurgy market size was valued at US$ 3.11 billion in 2020 and is anticipated to grow at a CAGR of 12.7% during forecast period 2021 to 2030.

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Powder Metallurgy Market (By Material: Titanium, Nickel, Steel, Aluminum, Cobalt; By Process: Additive Manufacturing, Metal Injection Molding, Powder Metal Hot Isostatic Pressing; By Application: Aerospace & Defense, Automotive, Medical & Dental, Oil & Gas, Industrial; By End-use: Original Equipment Manufacturers (OEMs), AM Operators) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Scope	Details
Market Size	US$ 9.2 billion by 2030
Growth Rate	CAGR of 12.7% From 2021 to 2030
Base Year	2021
Forecast Period	2021 to 2030
Segments Covered	Material, process, application, end-use
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned	Molyworks Materials Corp.; Advanced Technology & Materials Co., Ltd. (AT&M); JSC POLEMA; Sandvik AB; Hoganas AB; GKN PLC; Rio Tinto Metal Powders; Rusal; CRS Holdings, Inc.; Liberty House Group

Growth Factors

 The increasing adoption of additive manufacturing to reduce the weight of parts or components used in the aerospace, defense, and healthcare sectors will drive the market over the forecast period. 3D printing, also called additive manufacturing, offers properties, such as reduced weight, cost-effectiveness, and complexity in designs, which have attracted various manufacturers to implement the technology in their manufacturing processes. 3D printing is used in various industries, such as jewelry, medical, food, footwear, and aerospace. This has positively influenced the market growth.

By Material Analysis

The steel segment held the largest revenue share of 46.8% in 2020 of the global market. Steel is considered one of the cheapest materials in additive manufacturing, which can also be utilized in a mixture with other metals, such as bronze, titanium, and aluminum. The newly emerging applications of steel powder from aerospace, construction, mechanical engineering, and various other industries are further expected to augment its demand.

The other materials segment includes metals such as iron, copper, zinc, molybdenum, tungsten, magnesium, and chromium. The utilization of these metals in the manufacturing, chemical, oil & gas, general, and other industries is projected to create a positive impact on the market.

By Process Analysis

The Powder Metal Hot Isostatic Pressing (PM HIP) segment accounted for the largest volume share of over 55% in 2020, followed by the Metal Injection Molding (MIM) and additive manufacturing segments.

The process is used to produce components that are complex to manufacture using conventional processes, such as casting and forging. In this process, the powder is subjected to extremely high vacuum and elevated temperature, which helps remove the internal voids and forms a strong bond throughout the material.

The additive manufacturing process is expected to register the fastest growth rate of 24.6%, in terms of revenue, over the forecast period. This method is based on the transfer of digital data to a machine, which builds the component.

By End-use Analysis

Based on end-use, the market is segmented into Original Equipment Manufacturers (OEMs) and AM operators. Large OEMs, especially in the aerospace industry, are investing in metal 3D printing to manufacture aeronautical parts.

AM operators include online and offline 3D printing service providers. Online 3D printing services are gaining prominence as they help streamline the ordering process through online platforms, thereby reducing the overall production time substantially, which drives the market growth.

By Application Analysis

The aerospace & defense application segment accounted for the largest revenue share of more than 51.0% in 2020 of the global market. The ability of the aerospace & defense industry to bear high initial costs and adaptable nature for new technologies are anticipated to propel the segment growth.

Increasing industrial output and energy requirements are the key driving factors for the segment growth. In the oil & gas industry, the demand for metal-based products manufactured using additive manufacturing has shown significant growth.

Increasing health consciousness and rising consumer disposable income levels are the key factors driving the growth of the medical & dental industry. This, in turn, is boosting the demand for powder metallurgy in medical & dental applications.

By Regional Analysis

In terms of revenue, North America accounted for the highest share of more than 37.5% in 2020, owing to the high demand from the aerospace & defense industry.

Asia Pacific is estimated to register the fastest CAGR over the forecast period. Factors such as high population levels and increasing consumer disposable income have led to the adoption of additive manufacturing in the automotive and healthcare industry.

In Europe, stringent regulations to achieve fuel efficiency are expected to propel the demand for lightweight powder metallurgy components in the automotive & aerospace industries.

Key Players

• Molyworks Materials Corp.
• Advanced Technology & Materials Co., Ltd. (AT & M)
• JSC POLEMA
• Sandvik AB
• Hoganas AB
• GKN PLC
• Rio Tinto Metal Powders
• Rusal
• CRS Holdings Inc.
• Liberty House Group

Market Segmentation

• By Material
  • Titanium
  • Nickel
  • Steel
  • Aluminum
  • Cobalt
  • Others
• By Process
  • Additive Manufacturing
    • Powder bed
    • Blown powder
  • Metal Injection Molding
  • Powder Metal Hot Isostatic Pressing
• By Application
  • Aerospace & Defense
  • Automotive
  • Medical & Dental
  • Oil & Gas
  • Industrial
• By End-use
  • Original Equipment Manufacturers (OEMs)
  • AM Operators
• Regional
  • North America
    • U.S.
  • Europe
    • Germany
    • France
    • U.K.
  • Asia Pacific
    • China
    • Japan
  • Central & South America
    • Brazil
  • Middle East & Africa

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.

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