San Jose, California (PRWEB) June 16, 2014
Follow us on LinkedIn - Powder metallurgy (PM) is increasingly being used in the production of high performance components. Properties of PM parts such as shape and measurement precision are highly valued by equipment designers and automotive engineers. Powdered metals are used for manufacturing mechanical parts of automobiles, ships, tractors, filters, oil-impregnated bearings and friction material. Metal powders are also used in highly advanced science & technology applications such as in manufacturing medical equipments, bourrelets, ordnance parts, completion penetrating warheads, atomic industrial nuclear fuels, reactor structural materials and aerospace materials and components. Demand for rare earth magnets, manufactured using powder metallurgy (based on neodymium-boron-iron) is also on the rise. The global powder metallurgy market bounced back from the turbulent times, incited by the 2007-2009 economic recession, in the year 2010 and has been growing ever since, driven by recovery in major end-use markets. The market is poised to witness significant growth in the coming years, driven by emerging new application possibilities in medical diagnostics, communication technology, and metrology.
The automotive industry is the largest end-user of metal powders. Powder metallurgy is increasingly becoming indispensable in designing and developing next generation cars. Applications in this sector range from its use in manufacturing high-performance gears to sophisticated fuel cells. Some of the factors driving growth in the market include increasing demand for fuel efficient engines, light weight auto components, evolving emission standards, and advanced transmission applications. The market is also benefiting from technology advancements, which facilitate demand growth for PM components in emerging industrial applications. Technology breakthroughs, for instance, have made powder metallurgy highly functional, flexible, and cost-effective. Advancements in powder metal forging, spray forming, hot isostatic pressing, direct powder rolling, high temperature vacuum sintering, and metal injection molding have richly benefited the market over the last decade. With the ability to achieve desired density, metal powders enable the production of near-net shape components.
As stated by the new market research report on Powder Metallurgy, Europe represents the largest market worldwide. Although developed economies such as Europe and the United States continue to dominate the market, future growth will be driven by developing markets. Key to the evolving dominance of emerging markets is the growing shift in production activities and increased outsourcing of manufacturing functions to low cost countries. Asia-Pacific is forecast to emerge as the fastest growing market worldwide with a CAGR of 5.6% during the analysis period. Continued industrialization, growth in GDP, rising employment levels, improving standard of living, increase in discretionary spends, and development of road infrastructures, all represent broader variables driving automobile demand and indirectly creating new market opportunities for metal powders in in the region.
Major players covered in the report include AMETEK Specialty Metal Products, Carpenter Technology Corporation, Diamet Corporation, Erasteel SAS, Federal-Mogul Corp., Fine Sinter Co. Ltd., GKN Sinter Metals Inc., Hoeganaes Corp., Hitachi Chemical Company Ltd., H.C. Starck GmbH, Höganäs AB, JFE Steel Corp., Kennametal Inc., Metaldyne LLC, Miba AG, Pometon SpA and Sumitomo Electric Industries, Ltd. among others.
The research report titled "Powder Metallurgy: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific and Rest of World. The report also analyzes the global market for Metal Powders in US dollars for geographic markets including the US and Rest of World. Additionally, the report analyzes the US market for Metal Powders in US dollars and Shipments in Tons for major product segments including Iron & Steel, Stainless Steel, Tungsten, Aluminum and Others.
For more details about this comprehensive market research report, please visit –http://www.strategyr.com/Powder_Metallurgy_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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