The powder shipments segment is fast progressing in this market with a CAGR of 7.5%.
The steady growth of PM over the past several decades can be attributed to metal powder-based parts used to replace castings, forgings and machined parts. PM production can be used to fabricate large numbers of parts with complex shapes that meet demanding specifications with very little scrap or waste.
According to the report, Powder Metallurgy: Technologies And Global Markets, global consumption of particulates and other advanced powders, although still relatively small, is expected to grow at a CAGR of nearly 13% as new applications are developed and commercialized in the near future.
User benefits
“Technological progress has continued as iron-based powders with increased compressibility were introduced along with insulated iron powders, powder injection-moulding equipment and warm-compaction technology,” said BCC Research analyst, Robert H Moran. “PM components that offer cost-effective alternatives to machined components, castings and forgings are also expanding their markets. In addition, standards have been refined and greater emphasis has been placed on user benefits.”
