The driving force for using PM compared to other manufacturing techniques is almost always due to its ability to produce structural components with required performance in a cost effective way. Nowadays there is also a growing awareness of other aspects than cost on the selection of raw materials and production processes. Most manufacturing methods have an impact on the environment in the sense that it consumes energy and resources. It is thus necessary to select both material and process with the least impact on the environment. In this presentation some key aspects on the selection of raw materials, alloy compositions and processing conditions are discussed regarding performance requirements, cost effectiveness and environmental impact for some new challenging PM applications.