Global Automotive Powder Metallurgy Components Market 2018-2022
About Automotive Powder Metallurgy Components
Powder metallurgy (PM) is a cost-effective, green-manufacturing process of producing precision net-shape metal components. The automotive industry is one of the major customers of the PM industry.Technavio’s analysts forecast the global automotive powder metallurgy components market to grow at a CAGR of 7.41% during the period 2018-2022.Covered in this report The report covers the present scenario and the growth prospects of the global automotive powder metallurgy components market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Powder Metallurgy Components Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive powder metallurgy components market: GKN, Hitachi Chemical, Johnson Electric, Miba, and Sumitomo Electric Industries.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing use of titanium and titanium-based alloy powders. Powder metallurgy components are made up of steel, iron, and aluminum and the components are used for car engines and steel stampings. Titanium-based alloy powders are available in various forms and are regarded as promising material in the automotive industry.”
According to the report, one driver in the market is energy saving and cost advantages over traditional machining technologies. The automotive powder metallurgy components market is witnessing high growth owing to the cost-saving benefits offered by the PM technology over other metalworking technologies.
Further, the report states that one challenge in the market is volatility in raw material prices. The PM technology uses various raw materials such as powder metals or powder metal alloys. The volatility in the raw material prices represents one of the biggest challenges for PM manufacturers as it may lead to a decline in their profit margins or lower sales. GKN Hitachi Chemical Johnson Electric Miba Sumitomo Electric Industries