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Press release content from Wired Release. The AP news staff was not involved in its creation.

Global Powder Metallurgy Market Is Driven By Increasing Demand For Ferrous Powder In Automotive Industry

July 2, 2019

Pune, Maharashtra, Jun 17, 2019 (Wired Release) Prudour Pvt. Ltd. – Powder metallurgy is used to make components or materials such as oil-impregnated bearings, sintered filters, diamond tools, etc. The powder metallurgy is produced by various techniques such as grinding, crushing, chemical reaction, and others. The powders made from titanium, thorium, calcium, niobium, vanadium, tantalum, and uranium are produced by high-temperature reduction of carbides and nitrides. Powder metallurgy is widely used for additive manufacturing in order to make various parts by melting or laser sintering.

Increasing demand for powder metallurgy in the automotive industry for manufacturing to various parts such as clutch plates, hubs, synchromesh parts, bearings, and many other components is a factor proliferating the demand for powder metallurgy. In addition, rapid industrialization, coupled with growing electrical and electronics industry are factors augmenting demand for powder metallurgy. Moreover, increasing demand for powder metallurgy in industrial application owing to its properties has a positive impact on the global powder metallurgy market. High initial investment and complexity in manufacturing of 3D shapes is a factor challenging the growth of the global powder metallurgy market.

Increasing adoption of powder metallurgy in various industries in developing countries, and the development of lightweight and cost-effective end products are factors which in turn create new opportunities for prominent players operating in the global powder metallurgy market. An ongoing trend observed is increasing the use of powder metallurgy in the automotive industry for the manufacturing of vehicles which has a positive impact on the global powder metallurgy market.

Powder metallurgy is segmented on the basis of type i.e., ferrous and non-ferrous. Rising demand for ferrous powder in various applications owing to its high stability, high density, and high heat resistance has a positive impact on the global powder metallurgy market. Powder metallurgy is segmented on the basis of application such as automotive, electrical and electronics, and industrial. Rapid industrialization, coupled with the growing automotive industry, and growing demand for powder metallurgy in industrial application, have a positive impact on the global powder metallurgy market.

The market is segmented on the basis of regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Increasing demand for powder metallurgy in automotive and electronics sector is a factor augmenting demand for powder metallurgy in the North America region. Growing automotive and electrical and electronics industries, rising demand for powder metallurgy owing to its properties are factors augmenting demand for powder metallurgy in the Asia Pacific region. Additionally, increasing RnD and funding in the automotive industry for various manufacturing parts such as engine parts, gearbox parts, brake systems, etc. have a positive impact on the Asia Pacific powder metallurgy market.

Some of the prominent players operating in the global powder metallurgy market include GKN, Sumitomo Electric Industries, Hitachi Chemical, Fine Sinter, Miba AG, Porite, PMG Holding, AAM, Hoganas AB, AMETEK Specialty Metal Products, Allegheny Technologies Incorporated, Burgess-Norton, Carpenter Technology, Diamet, Dongmu, Shanghai Automotive Powder Metallurgy, and Weida.

Source: https://media.market.us/global-powder-metallurgy-market-is-driven-by-increasing-demand-for-ferrous-powder-in-automotive-industry/3805/

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