Top Powder Metallurgy Companies

Global Powder Metallurgy market size was valued at USD 19.83 Billion in 2023 and is poised to grow from USD 20.76 Billion in 2024 to USD 29.93 Billion by 2032, growing at a CAGR of 4.68% in the forecast period (2025-2032).

Powder metallurgy is characterized by industries focusing significantly on improving technology and innovation on their entire range of products. Leading powder metallurgy companies are investing heavily in research and development to produce unique products, primarily in newer-generation application sectors for automotive and the aviation sector. The industries are using automation and digital technologies in large numbers to reduce the cost of production and introduce higher production efficiency. Strategic expansion in the form of new production units, particularly in high-growth markets like Asia-Pacific, illustrates the interest of the industry to increase capacity and coverage in the market. 'Höganäs AB', 'GKN Powder Metallurgy', 'Sumitomo Electric Industries, Ltd.', 'Sandvik AB', 'Miba AG', 'Rio Tinto Metal Powders', 'Carpenter Technology Corporation', 'Hitachi Chemicals Co., Ltd.', 'POLEMA', 'Aubert & Duval', 'Advanced Powder Products, Inc.', 'PMG Holding GmbH', 'BASF SE', 'ATI Metals', 'Kennametal Inc.'

Powder metallurgy is a popular practice in the automotive industry. Powder metallurgy application across the automotive sector is continually increasing, as powder metallurgy is normally embraced as a less costly alternative for machined or cast parts. Growing awareness in most developing nations to produce fuel-efficient vehicles propels powder metallurgy application within the automotive industry. Powder metallurgy components market is driven by growth in demand for light vehicles, lightweight materials, and renewable energy resources through metal injection molding, forging of metal powder, and warm compaction.

Short-Term: By optimizing material composition and process simplification, artificial intelligence and automation are in the short-term optimizing powder metallurgy. AI models forecast material performance, reducing waste and preventing defects. Markforged, for example, employs AI-enabled algorithms within Blacksmith software to enhance the accuracy and precision of metal 3D printing. GE Additive also utilizes machine learning to enhance the consistency of additive manufacturing and other metal powder attributes.

What Role Does the Automotive Sector Play in Asia-Pacific’s Powder Metallurgy Market?