Industry Overview - Powder metallurgy is a technology for producing metal materials and components using metal powders, characterized by energy efficiency, material savings, and high precision, making it suitable for mass production [1][12] - The industry is classified into nine categories based on usage and characteristics, including structural materials, friction materials, porous materials, tool materials, refractory materials, corrosion-resistant materials, electrical materials, magnetic materials, and others [3][4] Industry Chain Analysis - The powder metallurgy industry chain consists of upstream raw materials and equipment, midstream product manufacturing, and downstream applications in automotive, aerospace, medical devices, and engineering machinery [6][7] - Leading companies in the industry include upstream material suppliers like Yuyuan New Materials and midstream manufacturers like Antai Technology and Dongmu Co., which are increasingly integrating their operations [7] Current Industry Status - The average production and sales rate of representative companies in the powder metallurgy sector has shown a fluctuating growth trend, increasing from 96.6% to 98.7% from 2021 to 2023, indicating a balance between supply and demand [20][22] - The Chinese powder metallurgy market is projected to exceed 16 billion yuan in 2024, driven by diverse applications across various sectors, particularly in the automotive industry [22][23] Competitive Landscape - The industry is divided into three tiers based on revenue, with Antai Technology leading at over 2.9 billion yuan, followed by Dongmu Co. with approximately 2.2 billion yuan, and other companies like Tianyi Shangjia and Haichang New Materials in the 100 million to 500 million yuan range [23][26] - The market share for Antai Technology and Dongmu Co. was 18.2% and 13.8% respectively in 2023, while other companies held less than 4% [26] Future Development Trends - The powder metallurgy industry is expected to see significant growth in applications, particularly in high-end markets such as new energy, medical devices, and aerospace, with a projected market size of 24.4 billion yuan by 2030, reflecting a compound annual growth rate of 6.9% [34] - Technological innovations, including metal powder injection molding and 3D printing, are anticipated to enhance product performance and expand application boundaries [31][33]