[FURL=https://www.industryarc.com/Report/19464/latam-powder-metallurgy-market.html]LATAM Powder Metallurgy Market[/FURL] is forecast to reach $221.2 million by 2025, after growing at a CAGR of 7.7% during 2020-2025. Growths for the parts of powder metallurgy in automobiles are propelled to upsurge during the forecast period due to concerns for decreasing the weight of the vehicle and an increase in the economy of fuel. The use of raw materials and low energy consumption compared to different technologies are the key factors responsible for the growth of the powder metallurgy industry. Key Takeaways
In LATAM, rising vehicle and component demand owing to increased consumer demand for commercial and personal transportation is expected to drive the LATAM powder metallurgy product growth during the forecast period.
Technology advancements and increasing research and development spending towards high-performance products are driving the powder metallurgy market in LATAM. As metal powders show exceptional properties desired for high performance and under harsh condition applications such as automotive and aerospace engine components.
The COVID-19 pandemic and the resulting government-ordered lockdowns have led to a profound recession impacting virtually every region of the world in 2020; the automotive markets were especially hard hit, impacting the demand and supply of the LATAM powder metallurgy market.
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LATAM Powder Metallurgy Market Segment Analysis - By Country
Mexico held the largest share of 56.7% in the LATAM powder metallurgy market in 2019, owing to the high demand for end-user products such as transmission, engine parts, aero-engine, and others. Mexico has contributed immensely to the growth of the LATAM Powder Metallurgy market. This trend is expected to continue in the forthcoming years. Moreover, Electrical machinery equipment, machinery, and vehicles are major drivers for Powder Metallurgy Market in Mexico.
LATAM Powder Metallurgy Market Drivers
Increasing demand for powder metal-based automotive parts
Growing execution in electrical and electromagnetic applications
LATAM Powder Metallurgy Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the LATAM powder metallurgy market. Major players in the LATAM powder metallurgy market are F.W. Winter Inc. & Co., Carpenter Technology Corporation, Höganäs AB, Kennametal Inc., Ametek Inc., Hoeganaes Corporation, Erasteel Inc. (Eramet), Allegheny Technologies Inc, Alcoa Corporation, and Kymera International (Palladium Equity Partners) among others.
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