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Global Powder Metallurgy for Electric Vehicles Market Projected to Grow with CAGR of 46.98% - by QYResearch

Author: QYResearch  |   Published Date: 2021-08-10   |   Views: 51



Powder metallurgy components are parts made from powdered metal via powder metallurgy (PM). Powder metallurgy refers to processes by which materials or components are made from metal powders. It is wide applied in electric vehicles.

The powder metallurgy process has many advantages compared to other metal forming technologies such as forging, metal casting or machining. The first advantage is cost effectiveness. With powder metallurgy you greatly reduce post-production processes such as metal removal procedures. This drastically reduces yield losses in manufacture and thereby lower total costs. In addition, the process has a lower energy consumption in comparison to other production technologies.

The second main benefit of powder metallurgy is the possibility to deliver product uniqueness thanks to high flexibility. It is possible to tailor alloys and physical characteristics to match specific properties or performance requirements. By producing parts with repeatable homogeneous material structures, the powder metallurgy process allows to manufacture structural metal components with high predictability and consistency of mechanical behaviour for a wide range of applications.

Powder metallurgy is used to make unique materials with tailored properties, impossible to achieve from melting or forming with other methods. It enables combinations of materials that would otherwise be impossible to mix and processing of materials with very high melting points. There are also advantages when it comes to creating complex shapes or integrating additional design features or functionalities in one part.

 

Currently, there are several producing companies in the world powder metallurgy industry. The main players are GKN, Sumitomo Electric Industries, Showa Denko Materials (Hitachi Chemical), Fine Sinter and Miba AG. GKN is the largest manufacturer and owns more than 20% sales share globally. Other players, like Porite, PMG Holding, AAM, Hoganas AB, AMETEK Specialty Metal Products, Allegheny Technologies Incorporated, are also key suppliers in the industry.

Powder metallurgy has two types, which include ferrous, non-ferrous. And each type has different applications relatively with different properties. With advantages of powder metallurgy, the downstream industries will continue to lead growth of powder metallurgy. Global electric vehicles market develops fast with the support of government polices, which stimulate the demand of powder metallurgy further. In 2020, the global Powder Metallurgy for Electric Vehicles market size was US$ 146 million and it is expected to reach US$ 2372.24 million by the end of 2027, with a CAGR of 46.98% between 2021 and 2027.

 

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