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Powder metallurgy (PM) is increasingly being used in the production of high performance components. Properties of PM parts such as shape and measurement precision are highly valued by equipment designers and automotive engineers. Powdered metals are used for manufacturing mechanical parts of automobiles, ships, tractors, filters, oil-impregnated bearings and friction material. Metal powders are also used in highly advanced science & technology applications such as in manufacturing medical equipments, bourrelets, ordnance parts, completion penetrating warheads, atomic industrial nuclear fuels, reactor structural materials and aerospace materials and components. Demand for rare earth magnets, manufactured using powder metallurgy (based on neodymium-boron-iron) is also on the rise.

The market is poised to witness significant growth in the coming years, driven by emerging new application possibilities in medical diagnostics, communication technology, and metrology.

The automotive industry is the largest end-user of metal powders. Powder metallurgy is increasingly becoming indispensable in designing and developing next generation cars. Applications in this sector range from its use in manufacturing high-performance gears to sophisticated fuel cells.

Advancements in powder metal forging, spray forming, hot isostatic pressing, direct powder rolling, high temperature vacuum sintering, and metal injection molding have richly benefited the market with the ability to achieve desired density, metal powders enable the production of near-net shape components.

Europe represents the largest market worldwide. Although developed economies such as Europe and the United States continue to dominate the market, future growth will be driven by developing markets.

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