Sintered Steel Market – Global Industry Analysis Growth, Trends, and Forecasts (2022 – 2029)

Sintered Steel Market size was valued at US$ 24.91 Bn. in 2021 and the total revenue is expected to grow at 4.7 % through 2022 to 2029, reaching nearly US$ 35.98 Bn.
Sintered Steel Market Overview:
Sintered Steel Market size was valued at US$ 24.91 Bn. in 2021. The growing emphasis on producing low-cost metal parts with decreased waste and increased accuracy is expected to fuel market growth, particularly in the automotive industry. Steel is a popular alloy in industrial applications for making parts with properties like high strength and corrosion resistance. In comparison to other techniques like casting, stamping, and cutting, sintering has a number of advantages. Along with the freedom of sophisticated design, sintered steel part production minimises machining costs and waste, which is estimated to raise market growth.To know about the Research Methodology :- Request Free Sample Report
Sintered Steel Market Dynamics:
The automotive industry is the main end user of sintered steel because people are paying more and more attention to strict regulations and concerns about high manufacturing costs, increased waste in the manufacturing process and carbon footprint. Specifications such as Bharat Stage VI (BS-VI) are expected to bring profitable opportunities for sintered components throughout the forecast period. The BS-VI specification focuses on reducing harmful emissions and requires manufacturers to add sensors before and after the catalytic converter in order to take into account productivity advantages. Sintering is an ideal process for mass production of such parts. Compared with traditional processes, the sintering process involves fewer manufacturing steps, thereby reducing energy use and a low carbon footprint. In addition, the sintered steel mesh components are light in weight and provide better yields at low costs. Such benefits, combined with the growing car component sector, are likely to drive demand for sintered steel in the future years.

Despite increasing product demand, the growth of the sintered steel market is expected to be affected by certain unfavourable factors of sintering technology, such as difficulty in producing large parts and lack of high strength of sintered parts compared with cast iron or forged parts. In addition, the machinery and equipment required for manufacturing are very expensive, limiting mass production. In addition to technical constraints, with the rapid development of technology in the future, raw material steel can also be replaced by elements such as aluminium.
Sintered Steel Market Segment Analysis:
The sintered steel market is segmented into type, process, end-user, application.

On the basis of type, the sintered steel market is sub-segmented into Stainless Steel, Carbon Steel, Alloy Steel, and Tool Steel.

The tool steel segment held large share of xx% in 2021. The increasing demand for sintered steel in numerous end-use industries, including as automotive, aerospace, industrial machinery, medical devices, and lawn and garden, is driving this segment's growth. Tool steel has a number of distinct advantages over other forms of steel, including high tensile strength, durability, and density. Various advantageous properties of tool steel, including as improved harden ability, increased impact strength, wear resistance, and toughness, are driving the demand for tool steel in the market.

On the basis of process, the sintered steel market is sub-segmented into Metal Injection Melding (MIM), Conventional Manufacturing, and Additive Manufacturing.

The metal injection melding (MIM) segment held large share of xx% in 2021. Due to its advantages such as manufacturing of high-volume, complex parts at a low cost, reduced production time, a minimum of finishing operations are required, and a large selection of pre-alloys and master alloys are available.

On the basis of end user, the sintered steel market is sub-segmented into Transportation, Industrial, Electrical, and Others.

The electrical segment held large share of xx% in 2021. These products are rising in popularity as a cost-effective, high-strength solution that provides durability and a variety of design alternatives. Due to its low maintenance requirements and great durability, it offers cost advantages both in terms of pricing and durability when compared to other premium materials. As a result of these factors, it is becoming more widely used in automobile components, industrial equipment, hospitality, medical and other machinery parts.On the basis of application, the sintered steel market is sub-segmented into Engines, Transmissions, Body, Chassis, Drivetrain, Electrical, Others.

The engines segment held large share of xx% in 2021. Sintered steel products and parts are used in a variety of industries, including engine, transmission, body, and chassis manufacture in the automotive and transportation industries and Sintered components are utilised as automotive parts in the production of a variety of vehicles, including passenger vehicles, buses and coaches, HCVs, LCVs, two-wheelers, and so on.

Sintered steel is also used in a variety of different industries, including industrial machinery, electronic and electrical parts, medical device manufacture, and so on. Sintered steel's main application is in the automobile industry, where fast technological advancement will raise demand for these products and propel the sintered steel industry forward.
Sintered Steel Market Regional Insights:
The North America held large share of 27% in 2021. The growth of the automobile industry is expected to be a major element in the market's success in North America. Manufacturers are flocking to North America to take advantage of zero tariffs, a larger customer base, and advanced technology thanks to the new USMCA agreement, to be eligible for no tariffs, autos must have 75% of their components manufactured in the United States, Canada, or Mexico. Given the taxes on car imports, the company has upped its projected investment to about USD 13 billion by 2021 in order to produce more models and parts in the United States. The corporation intends to enhance engine manufacturing at its Alabama plant and create around 600 jobs in the country.

Recent developent:

• GKN Sinter Metals Engineering GmbH and WORKERBASE formed a partnership in 2021 to speed up business in the manufacturing industry and to prepare a new operating environment for post-COVID-19 conditions.

• Sumitomo Electric Industries, Ltd. bought both the Sinterwerke Group's European Powder Metallurgy operations, Sinterwerke Grenchen AG in Switzerland and Sinterwerke Herne GmbH in Germany, in 2021. With this acquisition, the company hoped to broaden its sales channels to include European component manufacturers and automakers, as well as grow its powder metallurgical footprint in Europe.

The objective of the report is to present a comprehensive analysis of the Sintered Steel market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Sintered Steel market dynamics, structure by analyzing the market segments and projects the Sintered Steel market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Sintered Steel market make the report investor’s guide.
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Sintered Steel Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 24.91 Bn.


Forecast Period 2022 to 2029 CAGR:
4.7 %
Market Size in 2029:
US $ 35.98 Bn.


 Segments Covered:
by  Type
• Stainless Steel
• Carbon Steel
• Alloy Steel
• Tool Steel


by Process
• Metal Injection Melding (MIM)
• Conventional Manufacturing
• Additive Manufacturing


by End-user
• Transportation
• Industrial
• Electrical
• Others


by Application
• Engines
• Transmissions
• Body
• Chassis
• Drivetrain
• Electrical
• Others



Sintered Steel Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Sintered Steel Market, Key Players
• Acerinox S.A.
• AMES Sintering Metallic
• Aperam
• ArcelorMittal
• ASCO Sintering
• GKN PLC
• Hitachi Chemical
• JSCMS
• Mirach Metallurgy Co
• Nippon Steel
• Outokumpu
• POSCO
• RTI Industries
• Samvardhana Motherson
• Sandmeyer Steel
• Sandvik AB
• Schmolz
• Schunk Sinter Metals
• Sintercom India
• Sumitomo Electric
• Synalloy Corporation
• The Miba Group
• thyssenkrupp Stainless
• Viraj Profiles Limited

Frequently Asked Questions:

1. Which region has the largest share in Sintered Steel Market?
Ans: North America region holds the highest share in 2021.

2. What is the growth rate of Sintered Steel Market?
Ans: The Sintered Steel Market is growing at a CAGR of 4.7 % during forecasting period 2022-2029.

3. What segments are covered in Sintered Steel market?
Ans: Sintered Steel Market is segmented into type, process, end-user, application and Region.

4. Who are the key players in Sintered Steel market?
Ans: The important key players in the Sintered Steel Market are - Acerinox S.A., AMES Sintering Metallic, Aperam, ArcelorMittal, ASCO Sintering, GKN PLC, Hitachi Chemical, JSCMS, Mirach Metallurgy Co, Nippon Steel, Outokumpu, POSCO, RTI Industries, Samvardhana Motherson, Sandmeyer Steel, Sandvik AB, Schmolz, Schunk Sinter Metals, Sintercom India, Sumitomo Electric, Synalloy Corporation, The Miba Group, thyssenkrupp Stainless, Viraj Profiles Limited.

5. What is the study period of this market?
Ans: The Sintered Steel Market is studied from 2021 to 2029.