Global Metal Powders Industry

New York, April 07, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Metal Powders Industry” – https://www.reportlinker.com/p06049887/?utm_source=GNW
4% in the year 2020 highlighting a US$640.3million erosion in market value. Thereafter the market is expected to recover and reach US$4 billion by the year 2027 trailing a post-COVID-19 CAGR of 5.1% over the analysis period 2020 to 2027.COVID-19 outbreak has impacted demand for powder metallurgy parts in applications such as transportation, construction and mechanical engineering sectors. The manufacturing industry which is a major end-user of metal powders is feeling the weight of falling industrial output and a crumbling manufacturing sector. The worst affected industry in this pandemic driven crisis is manufacturing with its complex supply chains, labor intensive processes, and interdependencies. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations, have made the manufacturing sector most vulnerable amid the lockdown restrictions. An indication of the grim state of affairs is the fact that global manufacturing PMI is already declining and will fall to an estimated all-time low of 35.4 points in 2020 as compared to 53.8 in 2019. This indicates severe contraction of manufacturing activity including new orders, production, employment, supplier deliveries, inventories, customers`…