Powder Metallurgy Market Analysis And Forecast 2014 – 2020
It presents an executive level blueprint of the powder metallurgy market, constituting information, data, and historical statistics relevant to the market in order to estimate its growth trajectory. As against its market value of US$6.06 billion in 2013, the global powder metallurgy market is likely to reach US$8.7 billion by the end of 2020, according to the report. Powder metallurgy boasts diverse applications. It is used to process powdered feedstock which is a key element that goes in the manufacture of different components. Owing to its myriad uses, the market for powder metallurgy gets mileage out of the demand generated across industries. For instance, growing automotive industry subsequently propels the demand for powder metallurgy components, which is positively reflected on the proceeds registered by the global powder metallurgy market.
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Accelerating demand for automobiles in Asia Pacific has substantially fuelled the demand for metallurgy products in the region. Rapid industrialization witnessed by heavy industries and aerospace segment also contributed to the development of the global powder metallurgy market. Powder metallurgy is available at a reasonable price, which has played a key role in boosting its demand in the global market. Steps taken by developed economies to recover automobile sector is a significant factor driving the global powder metallurgy market. The spurt of activities witnessed by the automotive industry in the U.S. has bolstered the demand for powder metallurgy in the country.
Among the different types of products manufactured in the market, the report cites ferrous powder as the predominant segment. Ferrous powder led the market in 2013 with 80% share in the market. Increasing demand for components manufactured using ferrous powders especially in automobile applications is likely to boost the market segment significantly. Powder metallurgy is also used in electronics and electrical application due to its low energy consumption, and reduced prices compared to other manufacturing processes. These attributes will emerge as the key driving forces for the global powder metallurgy market.Among the key geographic segments, Asia Pacific held about 46% share in the powder metallurgy market in 2013. The region was trailed by North America and Europe. “Asia Pacific is likely to retain its dominance in the market, and is expected to register fastest growth both in terms of production and consumption of powder metallurgy components”, says a lead TMR analyst. Rapid industrialization across the emerging economies of Asia Pacific, propelling the automobile demand is cited as key reason propelling the powder metallurgy market in the region.
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Apart from Asia Pacific, the report cites impressive growth prospects for the powder metallurgy market in North America as well. While the market in North America witnessed a positive demand curve in 2013, lead analysts of TMR predict a CAGR of 4.0% for the metallurgy powder market in the region between 2014 and 2020.
Powder Metallurgy Market – Product Segment Analysis
- Others (Including metal matrix composites and cemented carbides)
Powder Metallurgy Market – Application Analysis
- Electrical and electronics
- Others (Including medical and energy)
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