October 11, 2017
WELLESLEY, Mass., Oct.11, 2017 – The powder metallurgy (PM) industry is strategically important to automotive, aircraft, hardware, instrumentation, oil and gas well-drilling equipment and off-road tractor industries. Evolving PM technology continues to prove manufacturers can meet rising demand at a lower cost compared with other technologies. BCC Research projects global powder shipments to reach $7.3 billion and $10.9 billion in 2017 and 2022, respectively, demonstrating an 8.2% CAGR. By volume, shipments are estimated to grow from 3.6 billion pounds in 2017 to 4.7 billion pounds in 2022, representing a 5.2% CAGR.
Powder Metallurgy: Global Markets to 2022 reports the PM industry has recovered and surpassed pre-recession levels of 2008 and 2009. In 2016, PM shipments exceeded 3.4 billion pounds with a value of more than $6.4 billion. Many firms have been laying the groundwork for continued growth by expanding and developing additional product lines. Hitachi Chemical is developing new PM products designed to improve the efficiency of both conventional IC engine cars and hybrid and electric vehicles. Companies such as Hoeganaes and ATI Specialty Materials (U.K.) have introduced new lines of metal powders engineered for additive manufacturing.
Products are also changing, and PMs can be adapted or modified to meet their demands. For example, GKN Sinter Metals has developed specially designed metal powders for automotive drivetrain applications. Powder metal offers new possibilities in geometry, such as undercuts, “green-in green” technology or helical gears to innovate gearbox design. Dynamet Technology has developed technology for producing titanium products for the aerospace industry comparable in quality to conventional wrought titanium products.
"The industry continues to evolve, as shown by its increasing adoption of particulates, or powder materials not made solely of metals," says BCC Research analyst and senior editor Andrew McWilliams, who authored the report. "Global consumption of particulates and other advanced powders, although still relatively small, could grow at 11.3% CAGR as new applications are developed and commercialized."
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Powder Metallurgy: Global Markets to 2022( AVM007N )
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