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Global powder metallurgy market set to reach almost $30 billion by 2012
- November 6, 2007
- News Release
- Metals/Materials
The worldwide market for powder metallurgy (PM) components is expected to approach $30 billion by 2012, growing from $23 billion in 2007 at an average annual growth rate (AAGR) near 5 percent, according to "The Powder Metallurgy Industry Worldwide 2007-2012," a new market study released by Materials Technology Publications. Featuring more than 450 pages and 100 tables of statistical data, this third edition of the report also examines the raw materials (metal powders) supply sector in detail.
According to the report, from 2007 to 2012 the traditional PM markets of North America and Europe will lose market share to China, India, and other expanding Asian countries. The North American PM parts business, worth about $5 billion in 2007, will grow to $5.5 billion in 2012. The $9.5 billion European PM market is expected to reach $11.6 billion in 2012. In contrast, the Asian market for PM components—estimated at $7.62 billion in 2007—is expected to increase to $12.6 billion in 2012.
The high quality of today's metal powders makes possible a wide range of new PM materials for specialized products, including bearings, bushings, gears, and pistons for industries such as automotive, aerospace, medical, and electronics. According to powdermetallurgymarket.com, the technology offers improved performance and greater design flexibility than traditional metalworking techniques such as casting, extrusion, and forging.
In most industrial countries, 70 percent to 85 percent of finished PM components are for the automotive industry. The North American PM industry suffers because the U.S. automotive industry has been losing market share to Japanese companies, which tend to use fewer PM parts per vehicle. In addition, other Asian automakers, particularly those in China and India, are set to become major competitive forces in the next five years. As the major powder metallurgy markets in North America, western Europe, and Japan remain relatively mature, the established PM industry in these areas seeks to expand into other regions, especially China, India, and eastern Europe.
Information concerning the activities of hundreds of companies (including financial results and market position) is also provided in the report, along with the R&D activities of research centers and other organizations worldwide.
The report is available for a fee and is offered in print or electronically on CD. Additional information is available at www.powdermetallurgymarket.com.
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The Fabricator is North America's leading magazine for the metal forming and fabricating industry. The magazine delivers the news, technical articles, and case histories that enable fabricators to do their jobs more efficiently. The Fabricator has served the industry since 1970.
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