Dublin, Aug. 23, 2021 (GLOBE NEWSWIRE) -- The "Metal Powders - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Demand for Powder Metallurgy Parts Stagnates. Metal Powders Market Stares at $640 Million in Losses
The global market for Metal Powders is expected to slump by -18.4% in the year 2020 highlighting a US$640.3 Million erosion in market value. Thereafter the market is expected to recover and reach US$4 billion by the year 2027 trailing a post-COVID-19 CAGR of 5.1% over the analysis period 2020 to 2027.
COVID-19 outbreak has impacted demand for powder metallurgy parts in applications such as transportation, construction and mechanical engineering sectors. The manufacturing industry which is a major end-user of metal powders is feeling the weight of falling industrial output and a crumbling manufacturing sector.
The worst affected industry in this pandemic driven crisis is manufacturing with its complex supply chains, labor intensive processes, and interdependencies. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations, have made the manufacturing sector most vulnerable amid the lockdown restrictions.
An indication of the grim state of affairs is the fact that global manufacturing PMI is already declining and will fall to an estimated all-time low of 35.4 points in 2020 as compared to 53.8 in 2019. This indicates severe contraction of manufacturing activity including new orders, production, employment, supplier deliveries, inventories, customers` inventories, commodity prices, order backlog, new export orders, and imports. Global industrial output is plummeting sharply with the U.S posting steep declines of -16.5% & -15.2% in March & April 2020.
Powder Metallurgy Parts are widely using in manufacturing automobiles and aircraft and both these industries are crumbling. The aviation industry has been brought down to its knees hurt by grounded flights as countries across the world sealed their borders amid stringent travel restrictions imposed in 1Q of 2020.
Several airline companies across the world, especially low cost carriers, have already voiced concerns about going bankrupt without timely aid and financial rescue measures from the government. Widespread travel bans and sealing up of international and regional borders by governments worldwide to contain the spread of the disease has been a significant financial blow for airline operators. Even as governments cautiously begin to ease restrictions in 2Q of 2020, the rising second wave of infections is doing but little to bring hope to the aviation industry.
The construction industry which is also a key consumer of metal powders is facing the brunt of labor migration, capital constraints and disruptions in construction material supply chain. Diversion of government funds from infrastructure development to pandemic firefighting has additionally impacted the construction industry, which is dependent to a large extent on infrastructure projects.
In the post COVID-19 period, recovery will move in sync with the rebound of the three major end-use markets. The growth in the market will benefit from the expected recovery in automobile production trends, reopening of the commercial aerospace industry, and steady recovery of the construction industry.
The growing sophistication of electronics manufacturing will also spur demand growth for aluminum and titanium-based powder metals. Also, growing investments in renewable energy post pandemic and the resulting increase in the production of solar panels and wind turbines will help boost consumption trends. Manufacturing advancements in PM parts such as hot is static pressing, metal injection molding and additive manufacturing will drive opportunities in the market.
Other major noteworthy trends will include shift in demand towards finer powders and advanced PM parts; increased volume consumption of PM materials in aero-engines and land-based gas turbines; mechanization of agriculture in developing markets in Asia, Middle East, Latin America and Africa and the ensuing demand for powdered metals based components in agricultural machinery production; and growing demand for construction equipment. Asia-Pacific will remain a major market led by the expected resurgence in the number of infrastructure development projects and the resulting demand for a wide range of products requiring production of metal components from metal powders.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic on the Metal Powder Market
- COVID-19 Crisis Weakens Global Economic Environment, Triggering Negative Tide in GDP
- It's a Bumpy Road to Recovery as Loosening Up of Restrictions Triggers a Second Wave of Infections
- Metal Powders - A Prelude
- Metal Powders Classification
- Ferrous Powders
- Iron Powder
- Stainless Steel Powder
- Non-Ferrous Powders
- Aluminum Powder
- Types of Atomized Aluminum Powders
- Copper (and Copper Alloy) Powder
- Nickel Powder
- Titanium Powder
- Market Outlook
- Despite Discouraging Short-Term Outlook, Long-Term Growth Prospects Remain Optimistic for Metal Powders
- US and Europe Represent the Largest Regions, Developing Regions to Drive Market Growth
- COVID-19 Hits the Once-Booming Asian Market
- Additive Manufacturing to Offer Strong Future Growth Potential
- Automotive Industry - The Largest End-Use Industry for PM Products
- Medical and Electronic Industries to Also Create Demand for Metal Powders
- Ferrous Powders Account for a Major Share, Non-ferrous to Witness Rapid Growth
- Competition
- Powder Metallurgy Market Players
- Global Leading Players in the Powder Metallurgy Market: GKN-Hoeganaes, Sumitomo, Fine Sinter, and Others
- Leading Players in the Global Sinter Metals Market (2020): GKN, Sumitomo, Hitachi, Fine Sinter, Miba, and Others
2. FOCUS ON SELECT PLAYERS (Total 132 Featured)
- Allegheny Technologies Incorporated
- American Axle & Manufacturing, Inc.
- American Chemet Corp.
- AMETEK Specialty Metal Products
- Burgess-Norton Manufacturing Company
- Carpenter Technology Corporation
- Daido Steel Co., Ltd.
- Diamet Corporation
- Dowa Holdings Co., Ltd.
- Erasteel SAS
- F. W. Winter Inc. & Co.
- Federal-Mogul Corporation
- Fine Sinter Co., Ltd.
- GKN Sinter Metals, Inc.
- Hoeganaes Corp.
- H.C. Starck GmbH
- Hitachi Chemical Company, Ltd.
- Hoganas AB
- JFE Steel Corp.
- Kennametal, Inc.
- Kobe Steel, Ltd.
- Kymera International
- Miba AG
- Norilsk Nickel
- PMG Holding GmbH
- Pometon SpA
- Rio Tinto Metal Powders
- Sumitomo Electric Industries, Ltd.
3. MARKET TRENDS & DRIVERS
- Expanding Applications Drive Powder Metals Market
- Metal Powders in Additive Manufacturing to Grow Significantly
- Major Additive Manufacturing Processes, Usage Applications and Powder Requirements
- Application Profile of Additive Manufacturing - An Overview
- Existing Hurdles to Metal Powders in Additive Manufacturing
- Metal Injection Molding (MIM) PM Components Set to Flourish in Future
- Newer Advances and Technological Breakthroughs in Powder Metallurgy Drive Market Growth
- Aluminum Sintering Inches towards Reality
- VVT Components - A Peek into Opportunities and Hurdles
- Marked Trends towards Finer Powders and Advanced PM Parts
- Nanopowders: A Major Area of Focus
- Increasing Focus on Green Technology
- Future Growth for the PM Industry
- Diversification
- Sustainability
- Investments in Technology
- Automotive Industry
- Benefits for Automotive Industry
- Auto Industry Shifts towards Light Metal Parts
- Prospective Automotive Applications
- Carrier Housings
- VVT
- Geographic Variations Exist in PM Usage in Automobiles
- Aerospace
- PM Material in Aerospace Applications
- 3D Printing or Additive Manufacturing Gains Foothold in Aerospace Industry
- Slowdown in the Aerospace Sector amidst Covid-19 Affects Near-Term Milling Machine Demand
- Residential & Commercial Construction Sector: Short-Term Prospects Remain Sluggish Amid Ongoing Onslaught of Covid-19 Outbreak
- Mechanization of Agriculture to Drive the Demand for Metal Powders
- Mining Equipment to Boost Growth in Powder Metallurgy Market Post-Pandemic
- DIY Tools and Domestic Appliances - Emerging End-Use Industries
- PM Material in Healthcare Industry
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- United States
- Canada
- Japan
- China
- Europe
- France
- Germany
- Italy
- United Kingdom
- Rest Of Europe
- Asia-Pacific
- Rest Of World
IV. COMPETITION
- Total Companies Profiled: 132
For more information about this report visit https://www.researchandmarkets.com/r/t1cl1y
