Booming Automotive Industry Driving Global Powder Metallurgy Market

Power metallurgy is a popularly used technique in the automotive industry. Growth and advancement in the automotive sector are driving the global powder metallurgy market. Applications of powder metallurgy in the automotive industry is steadily rising, as powder metallurgy is popularly viewed as an effective alternative for machined or cast parts. The increasing awareness to improve fuel efficiency in several developing regions is driving the demand for powder metallurgy in the automotive sector.

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Rise in demand for lightweight vehicles, lightweight materials, and alternative energy sources through metal injection molding, metal powder forging, and warm compaction is driving the demand for powder metallurgy components. Components developed through powder metallurgy technique are used for producing numerous automotive components. There are potential growth opportunities for market players due to rising applications of powder metallurgy in aerospace, electrical, medical, and energy industries.

Powder Metallurgy Market: Overview
Powder metallurgy is a metal forming technique that involves changing the metal into powder form in order to convert it into a unique material. Industrial equipment, hardware, hydraulics, and hand tools are made with powder metallurgy. Powder metallurgy is also used in various domestic products such as ceiling fans and kitchen appliances. Powder metallurgy plays an important role in the automotive industry. Rise in demand for lightweight components with superior performance, durability, and reliability to produce safe and low cost vehicles is boosting the demand for powder metallurgy in automotive applications.
According to Transparency Market Research’s latest research report on the global powder metallurgy market for the historical year 2020 and the forecast period 2021 to 2031, rise in usage of powder metallurgy in the automotive industry is a key factor that is expected to boost the global powder metallurgy market during the forecast period
Expansion of Automotive Sector: Key Driver of Powder Metallurgy Market
The powder metallurgy market is driven by many applications; however, automotive is the key application. There exists lucrative growth opportunities for powder metallurgy in various applications such as aerospace, electrical, medical, and energy. The success of powder metallurgy is directly related to the growth of the automotive industry. Its application in the automotive industry is steadily rising, as powder metallurgy is increasingly viewed as an effective alternative for machined or cast parts.
Enactment of the regulation to improve fuel efficiency is also driving the demand for powder metallurgy in the automotive sector. The Corporate Average Fuel Economy goal has led to introduction of efficient technologies such as lightweight design, lightweight materials, and alternative energy sources through metal injection molding, metal powder forging, and warm compaction. This is driving the demand for powder metallurgy components.
Components manufactured through powder metallurgy technology are used for the production of a wide range of automotive components. The automotive sector has been expanding significantly since the last few years owing to the rise in disposable income of consumers, changing lifestyle, growth in demand for single-family homes, and ease of financing. This is booting the global powder metallurgy market.
Powder Metallurgy Market: Competition Landscape
GKN Sinter Metal Engineering GmbH
Sumitomo Electric Industries, Ltd
H.C. Starck Tungsten Powders
Sandvik AB
Showa Denko Materials Co., Ltd
Advanced Powders & Coatings
ExOne GmbH
Materialise
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Expansion of Automotive Sector: Key Driver of Powder Metallurgy Market

The powder metallurgy market is driven by many applications; however, automotive is the key application. There exists lucrative growth opportunities for powder metallurgy in various applications such as aerospace, electrical, medical, and energy. The success of powder metallurgy is directly related to the growth of the automotive industry. Its application in the automotive industry is steadily rising, as powder metallurgy is increasingly viewed as an effective alternative for machined or cast parts.
Enactment of the regulation to improve fuel efficiency is also driving the demand for powder metallurgy in the automotive sector. The Corporate Average Fuel Economy goal has led to introduction of efficient technologies such as lightweight design, lightweight materials, and alternative energy sources through metal injection molding, metal powder forging, and warm compaction. This is driving the demand for powder metallurgy components.
Components manufactured through powder metallurgy technology are used for the production of a wide range of automotive components. The automotive sector has been expanding significantly since the last few years owing to the rise in disposable income of consumers, changing lifestyle, growth in demand for single-family homes, and ease of financing. This is booting the global powder metallurgy market.
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