Powder Metallurgy is a metal-forming process performed by heating compacted metal powders just below their melting point, significantly reducing the need to use metal removal processes, drastically reducing yield losses in manufacture, and often resulting in lower costs. According to BlueQuark Research & Consulting, the global Powder Metallurgy market is expected to witness a significant growth rate during the forecasted period. Factors like the increasing demand for Powder Metallurgy from the automotive industry due to its ability to be mass-produced at a cheap rate are expected to drive the global Powder Metallurgy market in the forecasted period. Further, the increasing demand for Powder Metallurgy in the medical and health care industry for manufacturing surgical implants is expected to propel the future Powder Metallurgy market in the forecasted period. Furthermore, the surging demand for Powder Metallurgy in the electronics industry due to its ability to be mass-produced electrical components such as cell phones and tablets is expected to drive the global Powder Metallurgy market during the forecasted period. However, factors like high capital requirements coupled with complexity in manufacturing 3D shapes are restraining the growth of the worldwide powder metallurgy industry in the forecasted period. 

Powder metallurgy is used to manufacture automotive parts such as steering, transmission, connecting rods, main bearing caps, fuel system, engine, etc. 

The Primary use of Powder Metallurgy is in the Automotive Industry. There has been a remarkable increase in the usage of Powder Metallurgy in the Automotive industry due to its additional benefits over forging and other conventional methods such as exceptional durability, lightweight, and the ability to be customized to meet the versatility, thereby driving the global Powder Metallurgy market. Powder metal parts showcase magnificent controlled porosity and self-lubricating properties that enable them to filter gases and liquids. Powder metallurgy is highly recommended in fabricating parts that demand intricate bends, projections, and depressions. Flexibility to develop mechanical parts with diverse compositions, such as metals-nonmetals and metal-metal combinations, enables the manufacture of automotive parts with high dimensional accuracy and assures consistent properties and dimensions with tiny scrap and material wastage. The bearings and gears are the most general vehicle parts made through the powder metallurgy process. Moreover, it is used in many parts in a vehicle, including chassis, exhaust, shock absorber parts, engine, transmission, battery, seats, air cleaners, steering, brake disc, etc. Many metals, including ferrous (steel, alloy steel, iron, stainless steel) and non-ferrous (bronze, aluminum, copper, and titanium alloys), are utilized in automotive parts. The focus of the use of powder metallurgy is to enhance the net shape, utilize heat treatment and special surface treatment, and improve precision. Further, factors like the ability of Powder metallurgical component to mass-produce reliable precision parts consistently at a cheap rate is projected to drive the global market for Powder Metallurgy in the Automotive Industry. Furthermore, Powder Metallurgy consumes only around 43% of the energy compared with forging and machining used to manufacture a truck transmission. The United States has established an extensive network of automotive parts suppliers that serves the industry, supporting almost 600,000 jobs. The demand for vehicles is expected to surge in the forecasted periods. Moreover, factors like the increasing electric vehicle market, global green revolution, urbanization, and growing metropolitan cities are estimated to drive the growth of the Powder Metallurgy Market. These are the factors projected to drive the development of the Global Powder Metallurgy market development.  

The Asia-Pacific region is expected to be a market leader as it is one of the fastest-growing markets for Powder Metallurgy. The increasing adoption of additive production to reduce the weight of parts or components used in the defense, aerospace, and healthcare sectors will drive the market over the forecast period. 3D printing, also called additive manufacturing, offers properties such as reduced weight, cost-effectiveness, and complexity in designs, which have attracted various manufacturers to implement the technology in their manufacturing processes. 3D printing is utilized in multiple industries, such as jewelry, medical, food, footwear, and aerospace. This has positively influenced the market growth. The surge in popularity of electrical and electronic products in households and offices provides global powder metallurgy market growth in the forecasted periods. The increase in demand for automotive components made from powder metallurgy is expected to drive the powder metallurgy market. Advancements in technology and an increase in the application of powdered metals in electrical and electronic devices, like car batteries and electronic gadgets, are predicted to boost the powder metallurgy market during the forecasted period. The aerospace components are making usage of powder metallurgy due to a rise in demand for controlled porosity, high modulus, and high heat capacity of elasticity. The surge in demand for thermoplastic components in the aerospace industry is augmenting the demand for powder metallurgy. Factors like increasing population, increase in growing income families, young people, and order in the domestic and regional markets have elevated the need for Powder Metallurgy in these regions, thereby driving the market in the Asia-Pacific region. China and India are the primary consumers in Asia Pacific Region, with China holding a sizeable economic GDP. Further, this unpresidential growth has resulted in Asia-Pacific emerging as a leader in automotive vehicle manufacturing, shifting the manufacturing hub from the west to the east in the last decade. Moreover, the Powder metallurgy process is extensively used to produce controlled porous structures, such as porous coatings applied for dental and orthopedic surgical implants, allowing bony tissue ingrowth within the implant surface, resulting in increased usage Powder Metallurgy. The medical industry requires human body compatible materials, non-corrosive, and high wear resistance that the conventional methods don't provide. Factors like these have made Asia-Pacific an essential scope for the global Powder Metallurgy market.

Some of the market's key players are Arcam AB, Catalus Corporation, Precision Sintered Parts, Clarion Sintered Metals, GKN Plc, and  Miba AG. 

In Sept 2021, the semiconductor shortage in the automotive industry was affecting the performance of the GKN Automotive and GKN Powder Metallurgy divisions.

In Oct 2021, GKN Hydrogen, a division of GKN Powder Metallurgy, to be a part of the U.S. Department of Energy.

Global Powder Metallurgy Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Powder Metallurgy market by segmenting based on Material Type (Copper, Aluminum, Magnesium, Titanium, Iron & Others), By End-User Type (Automotive, Medical & Healthcare, Aviation, Electronics & Others). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.