Increasing Demand for Lightweight Parts and Components Fueling Global Market for Powder Metallurgy to Reach $37 billion by 2030

Industry Experts, Inc., published the latest version of its latest report on Powder Metallurgy Market . According to this new report, the global demand for Powder Metallurgy is estimated at US$22.8 billion in 2024 and projected to reach US$37.2 billion by 2030 at a 2024-2030 CAGR of 8.5%. Some of the factors instrumental in driving demand for Powder Metallurgy include increasing vehicle production & a discernable shift towards electric vehicles (EVs), demand for lightweight, high-strength components in the aerospace & defense sector, unmet need for customized medical implants & dental components, increasing demand for consumer electronics and growth in renewable energy & oil & gas exploration activities. Asia-Pacific, in addition to being the leading global market for Powder Metallurgy with an estimated share of 40% in 2024, is also poised be the fastest growing at a 2024-2030 CAGR of 11.3%. The region's robust industrial base is a major contribut...