Press Releases

Asia-Pacific Powder Metallurgy to See 6.6% Annual Growth Through 2023

Market Buoyed by Growth in Automotive Manufacturing

January 31, 2019

WELLESLEY, Mass., Jan 31, 2019–Growing motor vehicle production and a shift toward lightweight technology are two factors helping to boost the power metallurgy market in the Asia-Pacific region, according to a report by BCC Research.

The report forecast a compound annual growth rate (CAGR) of 6.6% through 2023, when the market is estimated to reach nearly $7.2 billion, according to the report “Powder Metallurgy: Asia-Pacific Markets to 2023.”

Major industry leaders mentioned in this report include GKN Sinter Metals, Sumitomo (SMFG) and Fine Sinter.

Research Highlights

  • Copper-based materials will lead the market by growth, with a CAGR through 2023 of 8.6%, although iron-based materials will lead the market by size, with an estimated 2023 value of $6.5 million.
  • By application, the automotive segment will lead the market, with a market volume in 2023 estimated at just under 750,000 tons.
  • China will lead the market by size, with market volume in 2023 estimated at just under 470,000 tons, followed by Japan and South Korea.

“The powder metallurgy industry has seen steady growth since the 1980s,” the report notes. “Much of this growth was derived from the metal powder-based parts used to replace castings, forgings and machined parts. The industry has consistently demonstrated that it can meet manufacturer demand at a lower cost compared to other technologies.”

Rise in Electric Vehicles Restraining Market Growth

One factor restraining the market is the rising popularity of electric vehicles. These vehicles do not have internal combustion engines or drivetrains, meaning their need for powder metallurgy is much lower. Electric vehicles could impact the structural PM parts segment by as much as 11.6% through 2030 and the PM bearings segment by as much as 3.2% through 2030.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Powder Metallurgy: Asia-Pacific Markets to 2023( AVM194A )
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