Market Size of Powder Metallurgy Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 20.76 Billion |
| Market Size (2029) | USD 26.10 Billion |
| CAGR (2024 - 2029) | 4.68 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Powder Metallurgy Market Analysis
The Powder Metallurgy Market size is estimated at USD 20.76 billion in 2024, and is expected to reach USD 26.10 billion by 2029, growing at a CAGR of 4.68% during the forecast period (2024-2029).
In 2020, COVID-19 negatively impacted the market. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.
- Powder metallurgy is being used more and more by automotive OEMs, which is one of the main things driving the market. Moreover, the growing implementation of electrical and electromagnetic applications is also expected to provide market growth.
- On the other hand, rising costs of raw materials and tools are likely to slow the market's growth.
- The increasing adoption of powder metallurgy in the medical field along with the rapid growth in the aerospace and defense sector is expected to provide opportunities to the market.
- The Asia-Pacific region led the market for powder metallurgy, and it is expected to have the highest growth rate over the next few years.
