PUBLISHER: Market Research Future | PRODUCT CODE: 1866192
PUBLISHER: Market Research Future | PRODUCT CODE: 1866192
The EU & UK Powder Metallurgy Market is expected to attain a valuation of USD 5,569.12 million, growing steadily at a 6.2% CAGR during the forecast period. Powder metallurgy is a method of making parts from metal powders by pressing the powders in a mold and heating the pressed powders to produce a solid metal object. The process is commonly used for metal parts that are strong, lightweight, low in cost, and have very complex shapes.
Europe's switch to electric vehicles is a main driver behind the spectacular growth of the powder metallurgy market. The production of EVs is on the rise, which means that there is a growing need for components that are lightweight, durable, and have high performance, such as motor cores and battery housings. Hence, powder metallurgy plays a vital role in achieving energy efficiency and less carbon emissions.
Major Company Development
Sandvik AB achieved major breakthroughs in powder metallurgy in 2024. The September introduction of Osprey HWTS 50 improved additive manufacturing performance by utilizing the material's enhanced heat resistance and durability properties, and it solved difficulties in hot-work areas. In March, Osprey C18150 (CuCrZr) was launched, which was aimed at meeting extremely demanding thermal and electrical needs for the aerospace and automotive sectors.
Major players in the EU and UK power metallurgy market include Sandvik AB, GKN Powder Metallurgy, Hoganas AB, ATI Inc., Carpenter Technology Corporation, Rio Tinto, Kennametal, Erasteel, AMES Group, and Schunk Sintermetalltechnik GmbH.
Key Report Attributes
Industry Segmentations Growth