Overview and Scope
Sintered steel is a type of steel metal that uses heat to fuse the powdered material into a tougher, stronger portion to form complex shapes, produce alloys, or work in metals with extremely high melting points. It is low cost, low material waste, accurate, and requires little or no calibration processes.
Sizing and Forecast
The sintered steel market size has grown strongly in recent years. It will grow from $15.84 billion in 2023 to $16.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to demand for lightweight and high-performance materials, increased adoption of sintered steel in the automotive industry, growing manufacturing and industrial sector, need for durable and strong materials, expansion of the electronics industry.
The sintered steel market size is expected to see steady growth in the next few years. It will grow to $19.82 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to growing electric vehicle (ev) market, rising demand in aerospace, renewable energy sector demand, advancements in additive manufacturing, oil and gas exploration. Major trends in the forecast period include powder metallurgy advancements, integration of advanced alloys, digitalization and industry 4.0, application in 5g technology, emerging technological advancements in the powder metallurgy industry.
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Segmentation & Regional Insights
The sintered steel market covered in this report is segmented –
1) By Type: Stainless Steel, Carbon Steel, Alloy Steel, Tool Steel
2) By Process: Metal Injection Molding (MIM), Conventional Manufacturing, Powder Forging Manufacturing, Additive Manufacturing
3) By Application: Engines, Transmissions, Body, Chassis, Drivetrain, Electrical, Other Applications
4) By End-User Industry: Transportation, Industrial, Electrical, Other End-Users
Asia-Pacific was the largest region in the sintered steel market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the sintered steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The expansion of the automotive sector and increasing demand for innovative designs are contributing to the growth of the sintered steel market. The concepts of electrified, autonomous, connected, and shared will result in a rise in the rate of innovation within the automotive sector. The increasing speed of innovation, mainly in software-based systems, will require cars to be upgradable. Sintered components are finding applications within the automotive industry in areas where they will replace existing forged metal parts. For instance, in August 2023, according to the Board of Governors of the Federal Reserve System, a US-based government agency, total vehicle production in the United States increased to 11.77 million units in July, up from 10.91 million units in June. The expansion of the automotive sector and increasing demand for innovative designs will drive the growth of the sintered steel market.
Key Industry Players
Major companies operating in the sintered steel market report are CNPC Powders Inc., Guest Keen & Nettlefolds Ltd., Samvardhana Motherson International Ltd., Hitachi Chemical Co. Ltd., The Miba Group AG, ASCO Sintering Co., Sintercom India Ltd., AMES BARCELONA SINTERING S. A., Schunk Sinter Metals GmbH, CNPC Powders Inc., Erasteel Ltd., Advanced Technology (Bazhou) Special Powder Ltd., Hoganas AB, Polema JSC, Sintered Metal Corporation, Posco India Pvt. Ltd., Nippon Steel Corporation, Outokumpu Oyj, ArcelorMittal SA, Schmolz+Bickenbach AG, Thyssenkrupp Stainless AG, Acerinox S. A., Mirach Metallurgy Co., SSI Sintered Specialties LLC, Mechanical and Chemical Industry Corporation, Atlas Pressed Metals, Technymon Global Bearing Technologies S. r. l, Federal-Mogul Goetze Limited, Resonac Corp., Stackpole International Ltd., Tungsten Heavy Powder Inc., Umicore S. A., VAC AERO International Inc., Valtimet Oy
The sintered steel global market report 2024 market report table of contents includes:
1. Executive Summary
2. Sintered Steel Market Characteristics
3. Sintered Steel Market Trends And Strategies
4. Sintered Steel Market – Macro Economic Scenario
5. Global Sintered Steel Market Size and Growth
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31. Global Sintered Steel Market Competitive Benchmarking
32. Global Sintered Steel Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Sintered Steel Market
34. Sintered Steel Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
CNPC Powders Inc
Guest Keen & Nettlefolds Ltd.
Samvardhana Motherson International Ltd.
Hitachi Chemical Co. Ltd
The Miba Group AG
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