Powder Metallurgy Market Size, Share & Trends Report

Powder Metallurgy Market Size, Share & Trends Analysis Report By Material (Titanium, Steel), By Process (MIM, PM HIP), By Application (Automotive, Oil & Gas), By End-use (OEM, AM Operators), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-660-8
  • Number of Pages: 100
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the powder metallurgy market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for powder metallurgy market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of powder metallurgy market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Powder Metallurgy Market Categorization:

The powder metallurgy market was categorized into four segments, namely material (Titanium, Nickel, Steel, Aluminum, Cobalt), process (Additive Manufacturing, Powder Metal Hot Isostatic Pressing, Metal Injection Molding), application (Aerospace & Defense, Automotive, Oil & Gas, Industrial, Medical & Dental), end-use (OEMs, AM Operators), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The powder metallurgy market was segmented into material, process, end-use, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The powder metallurgy market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seven countries, namely, the U.S.; Germany; France; the UK.; China; Japan; and Brazil

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Powder metallurgy market companies & financials:

The powder metallurgy market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Molyworks Materials Corporation: The company was founded in 2015 and is headquartered in California, U.S. The company manufactures metal powders for additive manufacturing applications. It recycles additive manufacturing metal powder from scrap. It mainly serves aerospace & defense and energy industries. As of December 2020, it had 15 employees.

  • Advanced Technology & Materials Co., Ltd. (AT&M): The company was founded in 1998 and is headquartered in Beijing, China. The company manufactures advanced metallic materials and solutions. It is a national technology company approved by the Chinese Academy of Sciences and Ministry of Science, China. The company’s product portfolio includes diamond tools, welding materials & products, magnetic materials & products, powder materials & products, refractory materials & products, and nanocrystalline & amorphous materials and productsThe company has four production facilities in Zhuozhou, Changping, Konggang, and Yongfeng. It caters to key regional markets including Asia, and Europe, and end-use markets such as electrical & electronics, automotive & transportation, aerospace & defense, industrial manufacturing, medical, energy, and building & construction.

  • JSC POLEMA: The company was established in 1961 and is headquartered in Tula Oblast, Russia. It manufactures metallic powders and produces pure metal and alloy powders using mechanical crushing, high-pressure water, spraying the alloy with gas, and oxide recovery methods. Metal powders are mainly made from tungsten, molybdenum, chrome, and other base metals. It has an annual production capacity of 3,000 tons for powder metallurgy. The company’s key regional markets include Southeast Asia, South America, EEC countries, Europe, and the remaining Asia Pacific. Its key end-use markets include aerospace, nuclear, medical, toolmaking, oil & gas, agriculture, solar, diamond, glasswork, automotive & transportation, energy, chemical, and electrical. The portfolio of the company includes over 250 metal powders for metal injection molding, 3D printing, and press & sinter applications. The company has received ISO 9001:2015 quality certification.

  • Sandvik AB: The company was established in 1862 and is headquartered in Stockholm, Sweden. The company serves various industries with product lines including metal tools, tool systems, mining equipment, construction equipment, stainless steel, special alloys, titanium, furnace products, heating systems, hard materials, super hard materials, and industrial processing systems. It manufactures metal powders for additive manufacturing, brazing, cold spray, filters, foams, metal injunction molding, micro-MIM, plasma, thermal spray, co-deposition, diamond catalysts, electromagnetic shielding, hot isostatic pressing, laser cladding, and solid oxide fuel cells applications. It has about 1,000 metal powder mixtures catering to various industries. As of December 2020, the company had approximately 6,060 active patents and 37,125 employees. In 2020, the regional revenue distribution of the company for Europe, Asia, MEA, and CSA was 35%, 20%, 9%, and 5%, respectively.

  • Höganäs AB: Höganäs AB was founded in 1797 and is headquartered in Höganäs, Sweden. The company is engaged in manufacturing metal powders and carrying out the manufacturing, marketing, and sales of metal powders under various metallurgical segments including brazing, hot polymer filtration, water treatment, inductor systems, additive manufacturing, GLIDCOP, iron fortification, friction, sintered components, welding, surface coatings, and soft magnetic composites. It caters to key industries such as aerospace & turbines, automotive & transportation, construction & mining, energy & thermal management, environmental, and processing. Powder technologies supported by the company include additive manufacturing, cutting, brazing, chemical & metallurgical, friction, hot isostatic pressing (HIP), hot polymer filtration, iron fortification, metal injection molding (MIM), pressing & sintering, soft magnetic composites, surface coating, water & soil treatment, and welding.

  • GKN PLC: GKN PLC was established in 1759 and is headquartered in Redditch, UK. It is an industrial engineering company operating through three divisions including GKN powder metallurgy, GKN aerospace, and GKN wheels & structures. The core products of the company include chassis, driveshaft, prop shafts, and torque management for trucks and lightweight vehicles as well as tractor components and attachments, engine bodies, and frames for airplanes and components for off-roading vehicles. GKN powder metallurgy mainly caters powders to manufacturers of additive manufacturing and press & sinter parts. The company operates in various regions including Europe, South America, Africa, Asia, Asia Pacific, Europe, and Australia. It holds and marks its presence through joint ventures in over 30 countries.

  • Rio Tinto Metal Powders: The company manufactures iron & steel powder metals and was founded in 1968 and is headquartered in Sorel-Tracy, Canada. It has manufacturing facilities in Canada and China and sales offices in India, Germany, and the U.S. The company supplies its products in 30 countries. It is certified with ISO 9001, IATF 16949, and ISO 14001 standards. The company serves various industries including electric tolling, automotive, aerospace, food, welding & alloying, and lawn & garden. Its Canada manufacturing facility produces iron powders and water-atomized steel powders. These products are then transported to China’s facility for blending, milling, and annealing to manufacture finished products.

  • Rusal: The company was founded in 2000 by the merger of Siberian Aluminum and Millhouse Capital. The company is headquartered in Moscow, Russia. The company’s product portfolio includes primary aluminum, aluminum billets, rolling slabs, wire rods, aluminum powders, aluminum wheels, silicon, alumina, bauxite, and gallium. Its PM-Shelekhov and PM-Volgograd facilities located in Russia produce aluminum powder products. The company is vertically integrated in the aluminum industry with alumina refining capability and bauxite mining capacity. It owns nine aluminum smelting plants with eight plants concentrated in Russia and one facility based in Sweden. The company produces nearly 90% of its aluminum by using hydroelectric power. As of 2020, it produced nearly 3.75 million tons of aluminum products and 7.58 million tons of alumina. The company owns eight alumina refining centers located in countries such as Ireland, Jamaica, Ukraine, Italy, Russia, and Guinea.

  • CRS Holdings Inc.: The company also known as Carpenter Technology Corporation was founded in 1889 and is headquartered in Philadelphia, U.S. The company offers various products including specialty tools, and titanium powder for 3D printing technologies, along with superalloys, corrosion-resistant alloys, and stainless steel alloys. It also offers premium specialty alloys such as cobalt, nickel, and titanium. The company manufactures, markets, and sells its products to various industrial segments including aerospace, automotive, consumer goods, oil & gas, energy, medicine, transportation, and defense. It is ISO 9001:2008 certified and holds Nadcap approval for material testing labs, nondestructive testing, and heat-treating.

  • Liberty House Group: Liberty House Group is a UK-based manufacturer of metal and related products. The company was established in 1992 and is headquartered in London, UK. The company has a presence in over 30 countries including the U.S., France, the UAE, Singapore, Hong Kong, and Australia. Its key industry verticals include metals & mining, construction, automotive, agriculture, energy, aerospace, sports & leisure, and marine. The company has five business segments including commodities, recycling, aluminum, steel, and engineering. Its powder metal unit is located in the U.S. and serves metal injection molding (MIM), additive manufacturing (AM), hot isostatic pressing (HIP), and laser metal deposition (LMD) industries.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Powder Metallurgy Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Powder Metallurgy Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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