Industry Experts, Inc. unveiled the new global market “Powder Metallurgy – A Global Market Overview“. As per the new report, Automotive forms the largest, as also the fastest growing, application for Powder Metallurgy, the market for which is slated to compound annually at 6.5% over 2017-2023 in reaching a projected US$7.8 billion by 2023.
Powder Metallurgy is a technique used for processing powdered feedstock that is further used to manufacture various types of components. The parts and components produced using this method find application in a range of areas, such as aerospace, automotive, business machines, electrical & electronics and industrial, among others. These components can include gears, bushes, bearings, sprockets, rotors and magnets. Fast growth in technological advancements in electronic and computer components is one major factor fueling demand for Powder Metallurgy, with the aerospace and automotive industries also making significant contributions.
North America is the largest global market for Powder Metallurgy, estimated at US$2.6 billion in 2017 while Asia-Pacific is slated to register the fastest growth for the analysis period 2017-2023.
Industry Experts Inc.
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