Powder Metallurgy Components Market – Snapshot 

Powder metallurgy is a cost-effective method of forming precision net shaped metal components, which yield efficiently designed consumer and industrial products. Significant increase in automotive production in Asia Pacific, led by rapid urbanization and industrialization, is driving the global powder metallurgy components market.

The global powder metallurgy components market has been segmented based on product and application. In terms of product, the market has been bifurcated into ferrous metals and non-ferrous metals. The ferrous metals segment has been further classified into iron and steel, while the non-ferrous metals segment has been categorized into aluminum and others (including copper, tungsten, and molybdenum). Ferrous metals was the leading segment of the global powder metallurgy components market in 2017. Rise in usage of ferrous based powder metals in various applications such as magnetic assemblies, filtration systems, structural parts, sharp gemstone-grinding blades, and auto metal components is boosting the segment. Non-ferrous metal components impart high thermal and electrical conductivity, good machinability, high corrosion resistance, and good mechanical and fatigue properties. These components exhibit excellent compressibility due to lower sintering temperature compared to ferrous based powder metallurgy components. Increase in number of automotive companies and rise in disposable income of consumers, especially in emerging countries such as India and China, are likely to drive the non-ferrous metals segment of the powder metallurgy components market in the next few years.

powder metallurgy components market

In terms of application, the global powder metallurgy components market has been segregated into automotive, aerospace, medical, industrial, and others. Rise in demand for powder metallurgy components in engine (such as Variable Valve Timing [VVT] systems and oil pumps) and transmission applications (such as synchronizers and oil bearings) are boosting the demand for powder metallurgy components in the automotive industry. Industrial is also one of the promising segments of the global powder metallurgy components market. Powder metallurgy components are employed in telecommunication equipment, computers, home appliances, lawn & garden equipment, farm/off-road equipment, power and hand tools, sporting goods, and firearms in the industrial segment. Rapid industrialization across the globe is expected to drive the industrial segment of the market in the near future. Aerospace and medical are lucrative segments of the market. Increase in demand for powder metallurgy components in additive manufacturing in the aerospace industry and manufacture of precision components such as gearing, gear boxes, small planetary devices, and medical dispensing devices in the medical industry are anticipated to propel the aerospace and medical segments during the forecast period.

In terms of region the global powder metallurgy components market has been split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was the leading consumer of powder metallurgy components in 2017. It was followed by Asia Pacific. The market in Asia Pacific is expected to surpass that in North America owing to the growth in automobile and electrical & electronic industries in the region. Rise in GDP, growth in research activities, and increase in investment in electric vehicles are estimated to boost the market in Asia Pacific in the near future. In 2017, Ford Motor Company and Zotye Auto announced plans to invest US$ 756 Mn to manufacture a range of electric vehicles for the automotive industry in China. The U.S is projected to contribute significantly to the powder metallurgy components market in North America during the forecast period. Rise in consumer interest in electrical vehicles and emphasis on fuel efficiency of vehicles are encouraging manufacturers to design lightweight components. This is driving the powder metallurgy components market in the U.S.

Europe is also one of the prominent regions of the global powder metallurgy components market. Increase in focus on curbing carbon emissions and development of lightweight automotive parts are driving the market in the region. According to the European Aluminium Association (EAA), weight reduction of every 100 kg in cars provides 0.6 liters of fuel savings for every 100 km. Similarly, weight savings of 300 kilo grams can be achieved by using aluminum in a medium sized car with a weight of 1400 kilo grams. These factors are boosting the demand for powder metallurgy components in the region, especially in the automotive segment. The market in Latin America and Middle East & Africa is estimated to expand at a moderate pace due to the lack of awareness about the capabilities of the powder metallurgy technology among OEMs and high dependency on import of raw materials.

Key players operating in the global powder metallurgy components market include GKN Hoeganaes, Sumitomo Electric Company Ltd, and American Axle & Manufacturing Holdings, Inc. Companies have been striving to improve competitiveness by optimizing existing processes, merger & acquisitions, and developing new processes to lower environmental impact and improve quality of products. For instance, Miba AG is a leading global manufacturer and supplier of engine bearings. The company acquired the Industrial Bearing segment of the John Crane Group in 2017 in order to expand the business and production of industrial bearings.

Powder Metallurgy Components Market – Overview 

Powder metallurgy is used to process powdered feedstock to manufacture various types of components across several industries globally. Powder metallurgy is a preferred manufacturing process for various structured parts due to its cost effectiveness. These components are used in various applications such as transmission components, belt pulleys, and engine parts. Powder metallurgy components are also utilized to manufacture filters that require greater strength and shock resistance. These components are employed in the production of machinery parts such as gears, bushes, bearings, sprockets, rotors, and magnets. Additionally, powder metallurgy components are used to manufacture hardware, business machines, household appliances, industrial motors, hydraulics, and hand tools. Rapid technological advancements in electronic and computer components is likely to increase the demand for aluminum and titanium-based powder metals during the forecast period.

Based on product, the powder metallurgy components market has been classified into ferrous metals and non-ferrous metals. The ferrous metals segment has been further sub-segmented into iron and steel. The non-ferrous metals segment has been further bifurcated into aluminum and others (including copper, nickel, cobalt, and tungsten). The ferrous metals segment leads the global powder metallurgy components market. In terms of application, the global powder metallurgy components market has been categorized into automotive, medical, industrial, aerospace, and others (including electrical & electronics). High fuel efficiency through improvement in engine performance, weight reduction, and alternative or supplemental power systems is boosting the demand for powder metallurgy components in the automotive segment. Additionally, increase in production of electric motors and small sintered parts for the usage in various industrial machineries is expected to propel the demand for powder metal components in the industrial segment during the forecast period. Rise in usage of powder metals in the manufacture of airframe and engine structures, components, and assemblies is anticipated to propel the demand for these components in aerospace applications during the forecast period. 

Based on region, the global powder metallurgy components market has been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global powder metallurgy components market, followed by Asia Pacific. The powder metallurgy components market in Asia Pacific and the U.S. has been expanding significantly owing to the increase in automotive output and government initiatives for reducing carbon emissions. Technological breakthrough in the development of powdered metal for additive manufacturing has opened up new avenues for advancements in several industries such as aerospace and automotive. This is expected to create lucrative opportunities for the market players across the globe in the next few years. The market in Asia Pacific is anticipated to expand at a significant CAGR owing to the growth in automobile and electrical & electronic industries. China and India are major consumers of powder metallurgy components. The market in emerging economies is likely to expand at a substantial pace, while that in developed economies in Europe is anticipated to expand at a moderate pace during the forecast period. Sales of powder metallurgy components are anticipated to be moderate in Latin America and Middle East & Africa during the forecast period. However, capacity expansion by various automakers and increase in demand for industrial machinery are estimated to propel the market in these regions. 

The report analyzes and forecasts the powder metallurgy components market at the global and regional levels. The market has been projected in terms of volume (tons) and value (US$ Mn) for the period from 2018 to 2026. The study includes drivers and restraints of the global powder metallurgy components market. It also covers the anticipated impact of these drivers and restraints on the demand for powder metallurgy components during the forecast period. The report highlights opportunities for the expansion of the powder metallurgy components market at the global and regional levels. 

The report comprises detailed value chain analysis, which provides a comprehensive view of the global powder metallurgy components market. The Porter’s Five Forces model for the powder metallurgy components market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein product and application segments have been benchmarked based on their market size, growth rate, and general attractiveness. 

The study provides a decisive view of the global powder metallurgy components market by segmenting it in terms of product, application, and region. These segments have been analyzed based on the present and future trends. Regional segmentation includes the current and forecast demand for powder metallurgy components in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual application segments of the market in every region. 

The study includes profiles of major companies operating in the global powder metallurgy components market. Key players profiled in the report are GKN Hoeganaes, Sumitomo Electric Company Ltd, and Hitachi Chemical Company Ltd, American Axle & Manufacturing Holdings, Inc. (Metaldyne Performance Group), Fine Sinter Co Ltd, SHW AG, and Stackpole International Inc. These players account for a major share of the global powder metallurgy components market. Brand promotions and launch of new products are likely to increase sales of powder metallurgy components in the next few years. Market leaders look for measures such as strategic pricing and product improvement to increase their market share. 

The report provides size (in terms of volume and value) of the global powder metallurgy components market for the base year 2017 and the forecast for the period between 2018 and 2026. Market numbers have been estimated based on product, application, and regional segments. Market size and forecast for each product and application segment have been provided for the global and regional markets. 

Global Powder Metallurgy Components Market, by Product

  • Ferrous Metals
    • Iron
    • Steel
  • Non-ferrous Metals
    • Aluminum
    • Others (including Copper, Tungsten, and Nickel)

Global Powder Metallurgy Components Market, by Application

  • Automotive
    • Transmission Parts
      • Gears
      • Synchronizers
      • Others (including Oil Bearings, Clutch, and Pocket Plates)
    • Engine Parts
      • Oil Pumps
      • Water Pumps
      • Vacuum Pumps
      • VVT
      • Sprockets, Gears, Pulleys, Belt Pulleys
      • Crankshaft Bearing Caps
      • Others (including Sensor Rings, Valve Seat Inserts, and Balancer Gears)
    • Chassis Parts
      • Shock Absorbers
      • Steering Components
      • Others (including Turbochargers and Exhaust Systems)
    • Others (including Electrical components and Sensor Rings for Anti-lock Braking Systems (ABS))
  • Aerospace
  • Medical
  • Industrial
    • Power Tools
    • Others (including Mining Tools)
  • Others (including Electrical & Electronics)

Global Powder Metallurgy Components Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Key Takeaways

  • Extensive analysis of market trends from 2017 to 2026 to identify growth opportunities and market developments
  • Comparative analysis of various applications, wherein powder metallurgy components are utilized
  • Identification of key factors useful to build a roadmap of growth opportunities for the powder metallurgy components market at the global, regional, and country levels
  • Comprehensive analysis with respect to investments and regulatory scenario that would subsequently impact the outlook and forecast for the global powder metallurgy components market between 2018 and 2026
  • Detailed competition landscape of key players operating in the market to help understand the competition level
  • Detailed pricing analysis based on regional and product segments
  • Porter’s Five Forces analysis that highlights the power of buyers and suppliers
.