Powder Metallurgy Market to Gain a Stronghold by 2023

The Asia-Pacific market for powder metallurgy should grow from $5.2 billion in 2018 to $7.2 billion by 2023 at a compound annual growth rate (CAGR) of 6.6% for the period of 2018-2023.

Report Scope:

This report analyzes the PM industry of Asia-Pacific, including the manufacturing capability and consumption associated with the region’s major countries. It also examines industry standards, government and industry support, and other key factors related to the success of PM.

Market drivers within the industry are identified. The quantity and value of various powders and parts shipments are projected from 2017 to 2018, and then over a five-year period from 2018 to 2023. Technological issues and trends are projected, and other influential factors are discussed.

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The report identifies major manufacturers of powder metal and other related materials, including ceramics and nanopowders, special alloys and metal matrix composites. It also includes companies that make parts and components for automotive products, industrial and tooling equipment, recreation and hobby items, appliances, business machines and other products.

Report Includes:

– 27 data tables and 21 additional tables
– Country specific data and analysis of powder metallurgy for China, India, Japan, South Korea and other emerging economies within the APAC region
– Technological assessment of the powder metallurgy industry at a regional level covering Asia-Pacific, including manufacturing capability and consumption by regional markets
– Information on industry standards, government and industry support, and other key factors related to the success of powder metallurgy
– Identification of major manufacturers of powder metal and other related materials, including ceramics and nanopowders, special alloys and metal matrix composites
– Company Profiles of major manufacturers and suppliers of parts and components for automotive products, industrial and tooling equipment, recreation and hobby items, appliances, business machines and other products including BASF, Epson Atmix Corp., GKN Sinter Metals, Hitachi Chemicals Co. Ltd. and Mitsubishi Material Corp.

Summary

Powder metallurgy is the science of fabricating components with metal powders as their starting material. Powder metallurgy processes differ from conventional metallurgy processes such as melting and pouring, casting, drawing, forming, cutting, machining, welding, extrusion, forging and other related processes. In conventional metallurgy, the metal or alloy is always in a continuous physical form and is made into various shapes and articles using the above-mentioned processes. In case of PM, these processes are replaced by new and easier methods such as blending, compacting and sintering. One of the major drawbacks of conventional metallurgy process is the phase rule, which dictates what
ratios of specific elements can coexist in solid or liquid phase together in one continuum. This drawback is completely eliminated when the metal powders are handled through the powder metallurgy process. Powder metallurgy is sometimes referred to as the chip-less process, meaning there is zero waste of materials. This is due to the absence of machining operations compared to conventional metallurgical processes. Powder metallurgy (PM) is a cost-effective process for forming metal parts by heating compacted metal powders to just below their melting points. PM production methods can be used to fabricate numerous parts with complex shapes that meet demanding specifications. Unlike conventional machining, PM creates very little scrap or waste.

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Most parts produced using the PM process weigh less than five pounds, while parts weighing as much as 35 pounds can be fabricated with conventional PM equipment. Many early parts produced by PM, such as bushings and bearings, were simple shapes, but today’s sophisticated PM processes can economically produce components with complex contours and multiple levels.

Despite their small size, PM-produced parts are strategically important to the automotive, aircraft, hardware, instrumentation, oil and gas well-drilling equipment, and off-road tractor industries. A typical automobile contains more than 40 pounds of PM parts. Parts such as aircraft engine turbines, power tools, surgical instruments, riding lawn mowers, etc. depend on the PM process for their formation and strength.

The Asia-Pacific powder metallurgy (PM) industry, which was affected by the 2008–2009 recession, most notably due to the steep decline in automotive production, recovered and surpassed pre-recession levels. In 2017, the Asia-Pacific PM parts and components market exceeded REDACTED with a value of more than REDACTED.

BCC Research’s projections indicate that the PM market in Asia-Pacific will exceed REDACTED in 2018 with a value of REDACTED and reach nearly REDACTED (REDACTED) by 2023. These figures represent a CAGR of REDACTED in volume terms and an REDACTED rise in market value between 201 8 and 2023.

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