POWDERMET2018: State of the PM industry in North America 2018
June 27, 2018
Hot Isostatic Pressing & refractory metals trends
The Hot Isostatic Pressing (HIP) market gained in 2017, with increased business from the aerospace industry in both defence and civilian aircraft applications. Oil & gas markets were described as soft in 2017.
This year appears positive overall, according to the MPIF. The HIP business breaks down to an estimated 70% castings and 30% PM applications. About 10% of the PM business relates to densifying Metal Injection Moulded parts, 5% AM parts and 15% HIPed superalloy, titanium and tool steel parts. Most HIP companies are said to be busy, straining for capacity and adding more equipment.
The refractory metals market improved, due in part to the stability of the oil & gas market and from an overall increase in the consumption of tungsten carbide due to improved global economies.
The tungsten market improved in 2017 due to several factors, namely a slow but steady increase in the oil & gas market and an overall increase in demand for tungsten carbide from stronger manufacturing in the US and Europe.
North American oil & gas drilling rigs continued to rise in early 2018. Drilling rig count is up 16% today over the same period in 2017 (1,124 vs 965 rigs). Mining activity showed stronger demand, albeit from very low levels, after several years of being in a highly depressed market.
The increased demand is mostly attributable to stronger global economies such as the US and Europe, but also China, whose economy is hovering in expanding/neutral territory. Mining demand for zinc and copper remained strong through the third quarter of 2017, but slowed down in the first quarter of 2018.
2018 looks to be a similar year for refractory metals as global economies continue to remain on a positive trend, energy demand is increasing and OPEC agreements have reduced oil production.
