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Powder Metallurgy Market is Expected to witness a CAGR of More than 6.8% Between 2018 and 2026

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Powder Metallurgy Market is Expected to witness a CAGR of More than 6.8% Between 2018 and 2026

October 28
19:15 2021
 Powder Metallurgy Market is Expected to witness a CAGR of More than 6.8% Between 2018 and 2026

Transparency Market Research (TMR) witnesses that the global powder metallurgy market has a consolidative vendor landscape owing to the dominance of few players. The key players operating in the global powder metallurgy market are GKN Hoeganaes, Sumitomo Electric Company Ltd, H.C. Starck, Sandvik AB, and Hitachi Chemical Company Ltd. Top three companies such as Sumitomo Electric Company Ltd, Fine Sinter Company Ltd, and GKN Hoeganaes collectively accounted for 35% in 2017. However, GKN Hoeganaes held around 17.1% share in the revenue 

According to TMR, the global powder metallurgy market valued at US$ 6,514.05 Mn registered in 2017. The market is expected to swell with a CAGR of 6.8% over the forecast period from 2016 to 2024. 

Based on material, the non-ferrous powder segment is dominating the global market owing to high demand for iron powder. Based on the region, North America accounted for a prominent share of the global powder metallurgy market in 2017. The US is expected to offer lucrative opportunities to manufacturers due to growing demand from machinery manufacturing and motor vehicles.

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Growing Advancement in the Powder Metallurgy to Propel Growth 

Powder metallurgy is utilized to process fueled feedstock for assembling different sorts of parts in various ventures. Powder metallurgy is utilized for assembling channels which require more prominent quality and stun obstruction. Also, it has applications in the production of cutting devices and hardware, for example, gears, direction, shrubberies, and magnets. It is utilized crosswise over business machines, family unit applications, equipment, power through pressure, and hand devices. Developing progressions in the innovation in electronic and PC parts are probably going to impel interest for non-ferrous metal powders including titanium-based powder and aluminum development of the market for powder metallurgy over the conjecture time frame. 

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Growing Adoption of 3d Printing to Boost Market 

Also, developing interest for the round metallic shapes for assembling metal infusion forming (MIM) or 3D-printing is boosting take-up of powder metallurgy and liable to move the development of the worldwide powder metallurgy market. 

Lower requirement for vitality in the vitality utilization which is prompting support take-up of crude material and prone to fuel development of the worldwide powder metallurgy market. In any case, high capital prerequisite combined with unpredictability in assembling 3D shapes is limiting development of the worldwide powder metallurgy market. 

This information is encompassed in the report by TMR, titled, “Powder Metallurgy Market (Material – Iron Powder, Steel Powder, Nonferrous Powder (Aluminum, Copper, Nickel, Cobalt, Tungsten); End use – Automotive, Electrical and Electronics, Industrial, Aerospace) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”    

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About Us 

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. 

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories. 

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision. 

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