According to the research report titled ‘Global Powder Metallurgy Market 2022-2028’, available with MarketStudyReport, global powder metallurgy market is anticipated to progress with a CAGR of 6.1% during the stipulated timeframe to reach a valuation of USD 32130 million by the year 2028.

Global powder metallurgy market growth is attributed to growing applications of the process in numerous end-use sectors, including aerospace & military, automotive, electrical, medical, among others.

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For the unversed, powder metallurgy (PM) is a process of heating compacted metal powders below just below their melting temperatures to produce metal. In the last 25 years, PM has gained widespread acceptance as the best method for creating high-quality components for numerous significant applications.

Furthermore, soaring demand from the expanding infrastructure projects and building activities is expected to bolster industry outlook in the coming years.

On the basis of process, the marketplace is divided into press-and-sinter, metal injection molding, metal additive manufacturing, isostatic pressing, and others. Based on metal type, the market is split into non-ferrous, and ferrous. Among these, the ferrous segment accounted for a major revenue share in 2021.

In terms of end-user, global powder metallurgy industry is branched into power & energy, industrial machinery, electrical & electronics, automotive & transportation, aerospace & defense, and others. Out of which, the automotive & transportation segment is gaining traction at present and is expected to grow decently in the coming years, owing to growing advancements, and rising awareness about increasing fuel efficiency of vehicles by using lightweight components.

Speaking of competitive landscape, Sumitomo Electric Industries Ltd., Showa Denko Materials Co., Ltd., Sandvik AB, Miba AG, Melrose plc, Kennametal, Inc., Höganäs AB, H.C. Starck GmbH, Fukuda Metal Foil & Powder Co., Ltd., Fine Sinter Co., Ltd., Comtec Mfg., Inc., Catalus Corporation, Carpenter Technology Corporation, and AMT Pte Ltd. are the leading players in global powder metallurgy market. In addition, this study tracks competitive changes, tactics, mergers & acquisitions, new product developments, and noteworthy findings.