October 21, 2022 05:13 ET | Source: Research and Markets Research and Markets

Dublin, Oct. 21, 2022 (GLOBE NEWSWIRE) -- The "Powder Metallurgy - A Global Market Overview 2022" report has been added to ResearchAndMarkets.com's offering.

The report reviews, analyzes and projects the global Powder Metallurgy market for the period 2018-2027 in terms of market value in US$ and the compound annual growth rates (CAGRs) projected from 2022 through 2027

Powder Metallurgy is a technique utilized for processing powdered raw materials and producing a variety of components based on iron & steel powders (ferrous) and aluminum, cobalt, copper, nickel and titanium, among others (non-ferrous).

The components made using powder metallurgy are very strong and can withstand working environments that conventionally produced parts cannot. The demand for this procedure has been exhibiting quite impressive growth over the recent past, though the advent of COVID-19 has changed the scenario to some extent.

The global demand for Powder Metallurgy components and parts is anticipated to be the largest for the Automotive sector, though the fastest growing for the Aerospace sector. Advancements in material technology have enabled in producing metal powders that can act as replacements for traditionally used bulky metal components to reduce space and weight, thereby enhancing efficiency of the final product in its applicable area.

KEY BUSINESS & PRODUCT TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/1dgezl