Global Powder Metallurgy Components Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Powder Metallurgy Components Market Trends, Types of Products, Applications, Growth Opportunities, Market Size & Forecast to 2029” – among the latest tracked reports by Trusted Business Insights. the report focuses on drivers, restraints, opportunities, and trends in the market. In addition, revenues for region-level and country-level market along with CAGR for each of the regions and key countries have been produced and presented in the final report. Additional data and analysis such as Opportunity Map Analysis (OMA), Porter’s Five Forces analysis, PEST analysis, and value chain analysis have been offered for a holistic view of the market in terms of demand and supply, and impact of certain macro- and micro-economic factors. The company profiles for top international players have been included in the finished report with details of each of the company such as financial information, business segments, regional presence, and SWOT analysis. The global powder metallurgy components market report has been divided on the basis of material, application, and region/ country.

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Powder Metallurgy Components: Overview

Powder Metallurgy process is used to develop net-shaped, precision metal components that are cost-effective in nature. Powder metals are soft and are often used in formation of components in a wide range of shapes using sintering process. Powder metals are gaining popularity as materials used for manufacturing substances with magnetic properties, and the magnetism property can be further enhanced via sintering process. The powder metallurgy and sintering processes generally consist of three basic steps including powder blending, die compaction, and sintering. Powder metallurgy is vital process for various applications in end-use industries including building constructions & structures, jewelry making, gardens and lawns, personal computers and other electronics, hardware, and automobile production.

Global Powder Metallurgy Components Market: Dynamics

The wide applicability of powder metallurgy components in industry verticals such as medical, alternative energy, aerospace, etc. is a major factor expected to drive the market growth. Additionally, rapid industrialization, increasing manufacturing of automobiles and sales, combined with rising adoption of the products by manufacturers of the automotive industry in order to improve fuel efficiency of vehicles by reducing emissions are some other factors expected to support the target market growth to some extent. Increasing demand and adoption of products by the oil & gas sector and the healthcare sector is another factor expected to support market growth.

However, fluctuation raw material prices and limitations related to the sizes and weights of the finished components are some major factors that could hamper global market growth.

Increasing government spending on the aerospace sector, coupled with growing inclination and preference for adopting titanium powder metallurgy components in airframe sector, for cost-saving and weight reduction of the plane by replacing steel parts is projected to create revenue opportunities for companies in the market in the next few years. In addition, investments for R&D activities and development and launch of technologically advanced products by certain key players are factors projected to propel the global market growth to significant extent.

Global Powder Metallurgy Components Market: Segment Insights

Application 
Segment Analysis:

Amid the applications, the automotive segment is estimated to record significantly high market share in terms of value owing to the rapid growth of the automotive industry, combined with increasing investments for development of enhanced materials. The electrical & electronics segment is estimated to record higher revenue share and also projected to continue contributing notably high share owing to growing production of electronics of all types along with increasing global sales.

Global Powder Metallurgy Components Market: Regional Insights

The North America market is estimated to record largest revenue share in the market and is projected to continue with its dominance over the next 10 years, attributed to growing adoption of the products by the aerospace and oil & gas sectors, combined with rapid growth in these sectors, and robust presence of prominent manufacturers existing in the countries in the region. The Asia Pacific (APAC) market is projected to record the highest compound annual growth rate in the market, due to rapid industrialization, rising number of automotive sales, combined with higher demand for products from the automotive manufacturers, and well-established electrical & electronics industry, especially in the China market. The Europe market is anticipated to contribute high revenue share in the target market, attributable to strong presence of major electronics manufacturers in this region, and increasing investments in the aerospace industry by the government and certain private players.

Global Powder Metallurgy Components Market Segmentation:

Segmentation by Material:

Ferrous Metals (Iron and Steel)
Non-Ferrous Metals (Aluminum, Copper, Tungsten, and Others)

Segmentation by Application:

Automotive
Business Machines
Electrical & Electronics
Medical
Aerospace