Transparency Market Research’s new market study on the global metallurgy powder market analyzes the market’s proceedings for the 2014-2020 period. According to the report, the said market will develop at a modest 5.4% CAGR from 2014 to 2020. This will result in an increase in the market’s valuation from US$6 bn in 2013 to US$8.7 bn by 2020. The report is titled “Powder Metallurgy Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020” and is available for sale on the company website.
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The report provides a comprehensive analysis of the economic aspects and other driving factors that will bolster the growth of the global powder metallurgy market during the forecast period.Powder metallurgy finds use in the processing of powdered feedstock, which is an important constituent in the manufacture of mechanical components in heavy machinery. Due to the diverse applications and cost-effectiveness of powder metallurgy, the powder metallurgy market has gained momentum over the past few years.
The report says that the aerospace industry has been exhibiting substantial demand for powder metallurgy in the last few years. Other than this, the automotive industry in emerging nations is also exhibiting a substantial demand for powder metallurgy. These nations are overhauling operations for upsurge of the automotive sector, for which powder metallurgy is suitable. The automotive sector in the U.S. has significantly contributed to the development of the global market for powder metallurgy.
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In terms of the product segmentation of the market, the ferrous powder segment accounted for 80% of the global market in 2013. In the automotive sector, the rising demand for products that use ferrous powder as intermediate material is driving this product segment of the market. In electronics and electrical applications, powder metallurgy is favored as it is economical for energy consumption and cost parameters.