The recent boom in the automotive industry worldwide has paved the path for the global powder metallurgy market to succeed. Apart from automotive sector, the industrial, medical electrical and electronics, and energy sectors have also contributed to the rise of this global industry.
According to a research report published by Transparency Market Research (TMR), the global market for powder metallurgy gained a market value of US$6.06 billion in 2013. The market is expected to expand at a CAGR of 5.4%, reaching US$8.7 billion by 2020.
Browse Powder Metallurgy Market Report with Full TOC at http://www.transparencymarketresearch.com/powder-metallurgy-industry.html
Asia Pacific: Maintaining the Lead
The global powder metallurgy market is reporting a significant rise in every part of the world. Asia Pacific led the global market for powder metallurgy among all the regional markets in 2013 with a share of around 45%, while North America and Europe aren’t far behind.
The leading international players in the powder metallurgy market are focusing on Asia Pacific for their capacity expansion owing to which, this region is likely to maintain its dominance in the coming years. Rapid industrialization in the emerging economies of Asia Pacific is another factor fueling this regional market.
Europe: Presence of Leading Players Driving Market Growth
The presence of the leading market players in Europe has supported the European powder metallurgy market to a great extent. The gradual economic recovery in Europe is also fueling its automotive industry, in turn, stimulating demand from the powder metallurgy market in this region.
- GKN Plc, a U.K.-based powder metallurgy producer and one of the biggest players in this market has reported a robust performance during the first half of 2015, ending on June 30th, 2015. The company generated US$6,023.64 million in sales, posting an increase of 1% from the sales revenue generated in the first half of 2014.
- GKN Sinter Metals and Hoeganaes, the powder metallurgy manufacturing units of GKN, recorded US$740.90 in organic sales with an increase of US$3.1 million in profit. The firm gained US$1.5 million in currency translation.
- The company has announced a new joint venture in China for the production of metal powder in a bid to strengthen its position in the Asia Pacific powder metallurgy market. The move is widely speculated and is expected to provide significant thrust to the market in Asia Pacific.
- Likewise, AMG advanced metallurgical group, a Netherlands-based company, has reported a decline in its revenue for the Q2 of 2015. The company has recorded US$257.4 million in terms of revenue for the second quarter of 2015, posting a decline of 8% from the revenue earned in second quarter of 2014. However, an increase of 23% in EBITDA has been reported in the Q2 of 2015, comparing to the Q2 of 2014.
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Allegheny Technologies Inc., Federal-Mogul Corp., Carpenter Technology Corp., Fine Sinter Co., Hitachi Chemicals, H.C. Starck, Sandvik, Sumitomo Electric Industries, SMC Powder Metallurgy Inc., and Voestalpine are some of the other prominent players operating in the global powder metallurgy market.