Powder Metallurgy market is projected to grow at CAGR of 5.48% during the forecast period
The report published by Knowledge Sourcing Intelligence titled “Powder Metallurgy Market – Forecasts from 2018 to 2023” studies the various factors affecting the demand for various types of powder metallurgy worldwide. The report has been segmented by material (ferrous, non-ferrous), and application (automotive, electrical & electronics, aerospace, others). In addition, the demand for powder metallurgy has been estimated based on the geography, covering five regions namely North America, South America, Europe, Middle East and Africa and the Asia Pacific, and some of the major economies in each of these regions. Powder metallurgy is a process for forming accurate metal components from metal powder through compacting. A majority of powder metallurgy parts are used in the automobile industry. The demand for power metallurgy would primarily be driven by the growing investment in aerospace and electronics industry. Moreover, technological advancement in end-user industries like automobiles and computers is likely to increase the demand for non-ferrous powder metallurgy during the forecast period.
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By application, the automotive sector is expected to grow at a steady pace during the forecast period.
It is estimated that the demand for power metallurgy in the automotive application will have a significant market share in 2018 and will grow at a significant rate. The demand for power metallurgy will be directly affected by the increasing automotive production worldwide. Worldwide automotive production increased by nearly 2.3% in 2017 reaching 97,302,534 units compared to 94,976,569 units in 2016 (Source: International Organization of Motor Vehicle Manufacturers). In addition, most of the major components of automotive transmission are now manufactured by powder metallurgy methods only which are further expected to increase the demand for power metallurgy in the automotive sector in the coming years.
The Asia Pacific region is estimated have a significant share in the powder metallurgy market throughout the forecast period.
The demand for powder metallurgy was comparatively high in the Asia Pacific region owing to the rising investment in the automotive and aerospace industries in various countries such as China, India, and Japan. Furthermore, an increase in automotive production due to the availability of labor at an economical price and favorable government policies is adding to the demand for powder metallurgy in the region in the coming years. In addition, rising electronics sector in the region is further expected to widen up the growth opportunities for vendors and manufacturers in the region during the forecast period. With growing demand from end-user industries and increasing disposable income in the region, it is expected that countries like China and India would be among the fastest growing market for powder metallurgy followed by Korea and Japan.
This report also includes a study of strategies and product portfolios of some of the leading companies in the Powder Metallurgy market. It consists of company profiles of the leading companies such as Hitachi Chemical Co., Ltd., Sumitomo Electric Industries, Ltd., Catalus Corporation, H.C. Starck GmbH, Höganäs AB, American Axle & Manufacturing, Inc., Fine-sinter Co., Ltd, Miba AG, and Sandvik AB.
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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