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Powder Metallurgy Global Market Report 2022: Ukraine-Russia War Impact
Major players in the powder metallurgy market are Carpenter Technology Corporation, ExOne GmbH, GKN Plc, Hoganas AB, Materialize NV, BASF SE, GKN Sinter Metals Engineering Gmb, Melrose Industries PLC, Sumitomo Electric Industries Ltd, Phoenix Sintered Metals LLC, Fine Sinter Co.
New York, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Powder Metallurgy Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06377804/?utm_source=GNW
Ltd., Rio Tinto Metal Powders, United Company RUSAL, Kobe Steel Ltd., and Liberty House Group.
The global powder metallurgy market is expected to grow from $3.11 billion in 2021 to $3.50 billion in 2022 at a compound annual growth rate (CAGR) of 12.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The phenolic resins market is expected to grow to $5.08 billion in 2026 at a CAGR of 9.8%.
The powder metallurgy market consists of sales of iron powder, steel powder, and nonferrous powder.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Powder metallurgy is a metal-forming method in which metal powder is pressed and sintered to give the desired shape to the metal.It is a cost-effective process, requires very little post-production processing, and is energy-efficient.
The metal characteristics of products can be controlled and tailored as per need using the powder metallurgy process.
Asia Pacific was the largest region in the powder metallurgy market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the powder metallurgy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main material types of materials in powder metallurgy are titanium, nickel, steel, aluminum, cobalt, and others.Titanium is used in aircraft, spacecraft, and missiles for its low density and heat-durability.
Titanium is a metal found naturally and is the 9th most abundantly found metal on the planet.It is as strong as steel but a little less dense.
Therefore, it is used in alloy making and powder metallurgy.The different processes include additive manufacturing, metal injection molding, and powder metal hot isostatic pressing, and involve various types such as ferrous and non-ferrous.
It is used in aerospace and defense, automotive, medical, and dental, oil and gas, and other applications.
The increasing adoption of additive manufacturing is expected to drive the growth of the powder metallurgy market going forward.Additive manufacturing, also called 3D printing, is a computer-controlled process of manufacturing 3D objects by depositing repetitive layers of monomeric materials.
Additive manufacturing is an important aspect of powder metallurgy.In an Additive manufacturing process, metal powders or metal alloy powders are used creates objects layer upon layer.
The adoption of additive manufacturing required more metal powers which increases the demand for powder metallurgy.For instance, according to 3D Printing Trends 2021 report, by Jabil Inc, a US-based manufacturing services company, the utilization of additive manufacturing technology for industrial parts has gradually expanded with more than 50% of manufacturing companies employing additive manufacturing to create functional or end-use items.
Therefore, the increasing adoption of additive manufacturing drives the powder metallurgy market forward.
Product innovations are a key trend gaining popularity in the powder metallurgy market.Major companies operating in the powder metallurgy market are constantly innovating to sustain themselves in the market.
For instance, in July 2022, EOS GmbH, a Germany-based laser sintering 3D printing technology company launched EOS NickelAlloy HAYNES for additive manufacturing machines.It is is a nickel-base superalloy that has been precipitation-strengthened.
It combines high-temperature strength with thermal stability and fabricability.It is the final product of the powder metallurgy process.
Components for gas turbines, turbomachinery, and aerospace and rocket engines, as well as those used in the energy sector, are typical applications for the material. EOS NickelAlloy HAYNES 282 has high ductility and low strength.
In January 2022, PMG Group, a Germany-based automotive powder metallurgy parts manufacturer, acquired Yangzhou Leader Powder Metallurgy Co. Ltd. for an undisclosed amount. The acquisition will help in the expansion of PMG’s presence and network in China and help them better serve the customers in China. Yangzhou Leader Powder Metallurgy Co. Ltd. is a China-based manufacturer of powder metallurgy components and parts.
The countries covered in the powder metallurgy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The powder metallurgy market research report is one of a series of new reports that provides powder metallurgy market statistics, including powder metallurgy industry global market size, regional shares, competitors with a powder metallurgy market share, detailed powder metallurgy market segments, market trends and opportunities, and any further data you may need to thrive in the powder metallurgy industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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