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Powder metallurgy is metal processing technology in which components are produced from metallic powders. Over the decade's powder metallurgy has evolved as a superior way of producing high-quality parts in variety of industrial application. It is one of the highly reliable methods of manufacturing ferrous and non-ferrous parts. Industries are keen to invest in enhancing the performance and efficiency of the component. Metal powder offers an excellent property which is not possible in metal forming technologies such as forging and metal-casting.
The flexibility to adjust the required properties of final component make it suitable to use in automotive, aviation & aerospace, and numerous other application. The demand for sustainable development to mitigate the rising GHG emission is only possible by increasing the performance and efficiency by reducing the weight of the component.
By using metal powder any intricate shape of the metal can be achieved near to final product which avoids further machining. Consequently, it has been used in number of application which bolstering the growth of the metal powder market.
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Metal powder market is segmented into metal type, production method, compaction technique, and end-user. Metal type is further bifurcated into ferrous metal and non-ferrous metal. Ferrous metal accounts the largest share by metal type in which demand iron and steel continues to grow. It finds application in a variety of product, including dental restoration, oil-less bearings, automotive transmission gears, orthopedic implants, aircraft brake pads, etc.
The production method is further divided into a mechanical method, chemical method, and the physical method. Mechanical method is often used to reduce powder sizes. The primary purpose of compaction is to obtain green compact with sufficient strength to withstand further handling operation. Metal powder used in variety of applications in automotive, electrical & electronics, medical, manufacturing, and others. Automotive sector expected to experience continuous growth due to tremendous growth in transportation sector, and demand for lightweight component
In many industrial application, additive manufacturing is used to make the 3D model for analysis of component as it offers excellent dimensional tolerance and freedom of design. The companies are looking towards increasing their production efficiency by decreasing the weight of the component, and metal powder is the best suitable method to achieve weight reduction. Unique properties can be achieved by combining two metal powders which is very useful in aviation & aerospace, automotive and medical application that fuelling the metal powder demand in market.
Tooling cost is quite high for metal powder-based component and density difference in the final component. It is suitable for only mass production and complications involved in handling metal powder which expected to retard the growth of the metal powder market.
The key players in the metal powder market are Rio Tinto, Alcoa, Sandvik, GKN Hoeganaes, Carpenter Technology Corporation, H.C. Starck, BASF, Höganäs AB, ATI (Allegheny Technologies Incorporated), Praxair Surface Technologies, Advanced Metallurgical Group, Kymera International, Miba Group, and The Metal Powder Company Limited
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The metal powder market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Metal powder market is growing at a steady rate in North America owing to narrowed auto sales in the United States. The traditional press and sinter sector gaining momentum along with rising demand for automation package and robotics. Specific interest in additive manufacturing continues at a rapid pace. These factors contribute to accelerating the growth of the metal powder market in North America. Powder metallurgy is highly explored in European countries due to its excellent properties. The adoption of additive manufacturing technology automotive, oil & gas, medical, etc. along with demand for the fuel-efficient component is projected to add significant growth to metal powder in Europe. Asia Pacific is expected to experience the significant market share for metal powder market owing to rise in demand for lightweight components, growth in manufacturing sector along with bolstering transportation sector.