Global Sintered Steel Market Report 2024, Forecast To 2033
26 Feb, 2024
The sintered steel market has seen robust growth, rising from $15.84 billion in 2023 to $16.68 billion in 2024, exhibiting a CAGR of 5.3%. Historical growth is linked to lightweight material demand, increased usage in automotive, expanding manufacturing, and the electronics sector. Projections suggest steady growth to $19.82 billion in 2028, with a CAGR of 4.4%, driven by the electric vehicle market, aerospace demand, additive manufacturing, and advancements in the oil and gas sector. Notable trends include powder metallurgy advancements, digitalization, 5G applications, and technological innovations.
Global Sintered Steel Market Key Driver
The expansion of the automotive sector and the demand for innovative designs are driving the growth of the sintered steel market. The automotive industry's emphasis on electrification, autonomy, connectivity, and sharing necessitates innovative designs, leading to the increased adoption of sintered components. The surge in vehicle production, reported at 11.77 million units in July 2023, further supports the growth of the sintered steel market.
Get A Free Sample Of The Global Sintered Steel Market ReportGlobal Sintered Steel Market Segments
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
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacificwas 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
Major Sintered Steel Industry Players
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
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Sintered Steel Market Overview
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.
Sintered Steel Global Market Report 2023 provides data on the global sintered steel market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The sintered steel market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.