PUBLISHER: Polaris Market Research | PRODUCT CODE: 1831667
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1831667
The powder metallurgy market size is expected to reach USD 11.48 billion by 2034, according to a new study by Polaris Market Research. The report "Powder Metallurgy Market Share, Size, Trends, Industry Analysis Report: By Material (Titanium, Nickel, Steel, Aluminum, Cobalt), By Application, By Process, By End Use, and By Region; Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Powder metallurgy is a process that enables the efficient transformation of metal powders into high-performance and precisely engineered components, is witnessing strong momentum from the trend of light weighting across industries. Manufacturers are increasingly adopting this method to design components that combine reduced weight with superior durability, supporting the shift toward energy-efficient and high-performing systems. The technology also minimizes raw material wastage and enhances cost efficiency, making it an attractive solution in modern manufacturing ecosystems. Powder metallurgy stands out as a reliable enabler of innovation as industries continue to prioritize sustainability and performance optimization.
The powder metallurgy market is further driven by the rapid growth of additive manufacturing, which heavily relies on high-quality metal powders. This intersection has unlocked opportunities for producing complex, customized, and high-precision parts with reduced lead times and improved design flexibility. The consistency and reliability offered by powder metallurgy in delivering suitable powders for 3D printing make it central to the expansion of advanced manufacturing techniques. Therefore, as additive manufacturing continues to evolve, powder metallurgy is expected to play an important role in accelerating product development cycles and meeting the demand for tailored solutions across industries.
In terms of material, the steel segment held a 34.78% revenue share in 2024, owing to its wide availability, cost-effectiveness, and versatile use in automotive and industrial applications.
Based on application, the automotive segment is projected to grow at the fastest rate of 7.0% CAGR, driven by the industry's push for light weighting and improved fuel efficiency.
North America held 38.46% global market share in 2024, attributed to its advanced manufacturing base and strong aerospace and automotive sectors.
The Asia Pacific market is expected to grow at a 7.4% CAGR from 2025-2034, propelled by rapid industrialization and expanding automotive production.
A few global key market players include ArcelorMittal Powders, Carpenter Technology Corporation, ExOne (Desktop Metal), GKN PLC, Atlas Pressed Metals, Hogansas AB, Optomec Inc., Renishaw PLC, Sandvik AB, and Voxeljet AG.
Polaris Market Research has segmented the market report on the basis of material, application, process, end use, and region:
By Material Outlook (Volume, Kilotons; Revenue, USD Billion, 2020-2034)
Titanium
Nickel
Steel
Aluminum
Cobalt
Other Materials
By Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2020-2034)
Aerospace & Defense
Automotive
Medical & Dental
Oil & Gas
Industrial
By Process Outlook (Volume, Kilotons; Revenue, USD Billion, 2020-2034)
Additive Manufacturing
Metal Injection Molding
Powder Metal Hot Isostatic Pressing (PM HIP)
By End Use Outlook (Volume, Kilotons; Revenue, USD Billion, 2020-2034)
OEM
AM Operators
By Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2020-2034)
North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Vietnam
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa