Global Sintered Steel Market Size By Application (Automotive, Machinery & Equipment), Region (North America, Europe, Asia Pacific, Central & South America, MEA), By Region, And Segment Forecasts, By Geographic Scope And Forecast 2022-2032

Industry: Advanced Materials

RELEASE DATE Dec 2023
REPORT ID SI3226
PAGES 200
REPORT FORMAT PathSoft

Global Sintered Steel Market Size Insights Forecasts to 2032

  • The Global Sintered Steel Market Size was valued at USD 0.15 Billion in 2022.
  • The Market is Growing at a CAGR of 6.05% from 2022 to 2032
  • The Worldwide Sintered Steel Market Size is expected to reach USD 0.27 Billion by 2032
  • Asia Pacific is expected to Grow the fastest during the forecast period

Global Sintered Steel Market

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The Global Sintered Steel Market Size is expected to reach USD 0.27 Billion by 2032, at a CAGR of 6.05% during the forecast period 2022 to 2032.

The rise of the sintered steel market is similar to that of a well-forged blade—steady, strong, and determining the future of many sectors. The automotive industry is a major driver, with sintered steel components becoming increasingly important for lightweighting and improving fuel efficiency. This rise is also influenced by the demand for electric vehicles, as sintered steel is used in electric motor components. Furthermore, the burgeoning consumer electronics sector and increased need for precise components in manufacturing drive growth. Sintered steel's ability in generating complicated shapes while maintaining high strength contributes to its popularity.

 

Sintered Steel Market Value Chain Analysis

The extraction and processing of raw materials such as iron ore, which is then turned into powdered metal, is the first step in the process. To attain the appropriate composition and qualities, the powdered metal is subjected to various processes such as atomization or mixing. Using specialised equipment and dies, the powdered metal is crushed into the correct shape. This step lays the groundwork for the finished result. High temperatures in a controlled atmosphere are applied to the compacted metal, forcing the particles to join and form a solid, dense structure—essentially the heart of sintering. Additional procedures, like as heat treatment or machining, may be used after sintering to improve certain qualities or attain precise dimensions. Sintered components are frequently included in larger assemblies or systems, such as automotive engines. Finally, end customers integrate sintered steel components into their final products, whether they are automotive manufacturers, electronics businesses, or other industries.

 

Sintered Steel Market Opportunity Analysis

With the automotive industry's increased emphasis on fuel efficiency and pollution reduction, sintered steel has a wonderful chance. Gears, bearings, and structural pieces all contribute to lightweighting, which improves fuel economy. The demand for efficient and lightweight components is increasing as the EV market grows. The strength and precision of sintered steel make it an ideal fit for electric motor components, giving a lucrative potential in the EV revolution. Sintering's versatility enables for low-cost customisation and small-batch manufacture. This caters to businesses that require customised, specialised components, such as aerospace or medical devices. Streamlining the sintered steel supply chain through efficient logistics and distribution techniques can lead to cost savings and increased competitiveness.

Global Sintered Steel Market Report Coverage

Report CoverageDetails
Base Year:2022
Market Size in 2022:USD 0.15 Billion
Forecast Period:2022 to 2032
Forecast Period 2022 to 2032 CAGR:6.05%
2032 Value Projection:USD 0.21 Billion
Historical Data for: 2018-2021
No. of Pages:200
Tables, Charts & Figures:115
Segments covered:By Application, By Region, By Geographic
Companies Covered: POSCO, Synalloy Corporation, RTI Industries, NIPPON STEEL CORPORATION, Outokumpu, ArcelorMittal, Schmolz+Bickenbach AG, Aperam, thyssenkrupp Stainless GmbH, Sandvik AB, Viraj Profiles Limited, Sandmeyer Steel Company, JSCMS, Acerinox S.A., Mirach Metallurgy Co., Limited, and
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Market Dynamics

Sintered Steel Market Dynamics

Growing emphasis towards the production of metal parts at low cost

Sintering enables for the use of a wide range of powdered metals, maximising material utilisation. This not only saves money but also helps the environment by reducing material waste. Because of sintering's near-net-shape capabilities, components frequently require less post-processing and machining. Secondary operations are reduced, resulting in decreased manufacturing costs. Sintering makes it possible to create customised or complex shapes without paying extravagant expenditures. This is especially useful in businesses that demand unique components, such as aerospace or medical devices. Sintered steel is appealing for worldwide market penetration due to its low cost of production. It enables producers to give cost-effective solutions while maintaining quality, hence promoting international expansion.

 

Restraints & Challenges

While sintered steel is versatile, several material restrictions may limit its use in applications requiring specialised mechanical qualities or operating under harsh circumstances. Implementing sintering technique necessitates a substantial initial investment in specialised equipment. Smaller producers wanting to enter the industry may find this an obstacle. Sintered steel may still be seen as inferior to traditional manufacturing methods in some industries. It is critical to educate potential clients on the benefits and capabilities of sintering in order to gain market acceptance. Global events, geopolitical factors, or supply chain disruptions can all have an impact on the availability and cost of raw materials, putting the sintered steel market at risk.

 

Regional Forecasts

North America Market Statistics

North America is anticipated to dominate the Sintered Steel Market from 2023 to 2032. As North America is a significant automotive hub, the demand for sintered steel components is high. The emphasis on lightweighting for fuel efficiency corresponds to sintered steel's strengths. In North America, the aerospace sector offers enormous prospects for sintered steel, particularly in the production of precise components where strength and endurance are critical. North America's consumer electronics industry, as a centre of technical innovation, can profit from the usage of sintered steel in the manufacture of complicated and high-precision components.

 

Asia Pacific Market Statistics

Global Sintered Steel Market

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Asia Pacific is witnessing the fastest market growth between 2023 to 2032. Asia Pacific is a manufacturing powerhouse, and the region's extensive industrial infrastructure will boost the sintered steel market. Sintered steel demand is primarily driven by the automotive, electronics, and equipment industries. Sintered steel has a huge possibility in the expanding automobile industries of China and India. The emphasis on fuel efficiency, lightweighting, and electric vehicles complements sintered steel's characteristics.

 

Segmentation Analysis

Insights by Application

The machinery and equipment segment accounted for the largest market share over the forecast period 2023 to 2032. The strong demand for industrial machinery boosts the machinery and equipment segment. Sintered steel components, which are noted for their strength and durability, are widely used in the manufacture of machinery and equipment. The cost-effectiveness of sintered steel in making complicated and precision parts makes it an appealing alternative for machinery and equipment producers. It enables efficient production while maintaining quality. Because of its capacity to endure high loads and hard circumstances, sintered steel is commonly utilised in the manufacture of heavy machinery and tools. As a result, it is a popular material for gears, bushings, and bearings.

 

Recent Market Developments

  • In April 2022, Sandvik previously announced the acquisition of Deswik, the leading and largest provider of mine planning software.

 

Major players in the market

  • POSCO
  • Synalloy Corporation
  • RTI Industries
  • NIPPON STEEL CORPORATION
  • Outokumpu
  • ArcelorMittal
  • Schmolz+Bickenbach AG
  • Aperam
  • thyssenkrupp Stainless GmbH
  • Sandvik AB
  • Viraj Profiles Limited
  • Sandmeyer Steel Company
  • JSCMS, Acerinox S.A.
  • Mirach Metallurgy Co., Limited

 

Market Segmentation

This study forecasts revenue at global, regional, and country levels from 2023 to 2032.

 

Sintered Steel Market, Product Analysis

  • Automotive
  • Machinery & Equipment

 

Sintered Steel Market, Regional Analysis

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa

Frequently Asked Questions (FAQ)

  • 1. What is the market size of the Sintered Steel Market?
    The global Sintered Steel Market is expected to grow from USD 0.15 Billion in 2023 to USD 0.21 Billion by 2032, at a CAGR of 6.1% during the forecast period 2023-2032.
  • 2. Who are the key market players of the Sintered Steel Market?
    Some of the key market players of market are POSCO, Synalloy Corporation, RTI Industries, NIPPON STEEL CORPORATION, Outokumpu, ArcelorMittal, Schmolz+Bickenbach AG, Aperam, thyssenkrupp Stainless GmbH, Sandvik AB, Viraj Profiles Limited, Sandmeyer Steel Company, JSCMS, Acerinox S.A., Mirach Metallurgy Co., Limited.
  • 3. Which segment holds the largest market share?
    The machinery and equipment segment holds the largest market share and is going to continue its dominance.
  • 4. Which region is dominating the Sintered Steel Market?
    North America is dominating the Sintered Steel Market with the highest market share.
  • 1. What is the market size of the Sintered Steel Market?
    The global Sintered Steel Market is expected to grow from USD 0.15 Billion in 2023 to USD 0.21 Billion by 2032, at a CAGR of 6.1% during the forecast period 2023-2032.
  • 2. Who are the key market players of the Sintered Steel Market?
    Some of the key market players of market are POSCO, Synalloy Corporation, RTI Industries, NIPPON STEEL CORPORATION, Outokumpu, ArcelorMittal, Schmolz+Bickenbach AG, Aperam, thyssenkrupp Stainless GmbH, Sandvik AB, Viraj Profiles Limited, Sandmeyer Steel Company, JSCMS, Acerinox S.A., Mirach Metallurgy Co., Limited.
  • 3. Which segment holds the largest market share?
    The machinery and equipment segment holds the largest market share and is going to continue its dominance.
  • 4. Which region is dominating the Sintered Steel Market?
    North America is dominating the Sintered Steel Market with the highest market share.

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