Sintered Steel Market Size, Share, Trends, Growth 2030

The global sintered steel market size was worth around USD 24.81 billion in 2022 and is predicted to grow to around USD 33.05 billion by 2030 with a compound annual growth rate (CAGR) of roughly 3.65% between 2023 and 2030.

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Global Sintered Steel Market: Overview

Sintered steel is a solid product made by processing metallurgy powder with several types of metals and alloys including titanium, stainless steel, brass, steel, aluminum, nickel, bronze, and copper which are later transformed into powdered form for the purpose of sintering. Steel is a preferred alloy for producing parts that are corrosion resistant and possess high strength. Sintering facilitates several advantages like cutting, stamping, and casting in comparison to other processes. Also, it offers high freedom of complex design.

Global Sintered Steel Market: Growth Factors

The surging focus towards the production of metal parts with less wastage at low cost along with high accuracy is likely to propel the growth of the global sintered steel market. The automotive sector is a major consumer of the sintered steel due to the growing stringent regulations regarding the high manufacturing cost along with the generation of a huge amount of waste in the manufacturing process and increasing carbon footprint. The norms like Bharat stage VI (BS-VI) are likely to create several lucrative growth opportunities in the global sintered steel market during the forecast period. The norm emphasizes lowering the harmful emission that induces manufacturers to add sensors in the process of catalytic converter, thereby making sintering an ideal process for the bulk production of various components by considering the productivity capabilities. It is widely used in the manufacturing of two-wheelers, passenger cars, buses, coaches, spare parts, chassis, and others.

However, the sintered steel is majorly used in the car manufacturing process. Sintered steel is also utilized in the planetary career, synchronizing assembly, planetary assembly, camshaft gear, hardening synchronizer hub, and hardened gear. The sintering process involves few manufacturing steps when compared to the conventional processes which further results in a low carbon footprint and reduced energy utilization. Sintered steel net parts offer better yield at a low cost. Such advantages coupled with the growing component industry are likely to augment the demand for standard sintered steel in forthcoming years globally. However, the fast-growing transportation and construction sector also poses a huge demand due to the excellent surface finish, high dimension precision, and high strength properties of the sintered steel. It is widely adopted by manufacturers in the electrical sector as these materials have minimum maintenance requirements and are premium materials when compared to traditional ones.

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Furthermore, the ongoing technological advancements enhance the construction and architectural exercises along with the automotive division, which in turn will significantly escalate the requirement for sintered steel globally. The growing living standards of people along with changing lifestyles are resulting in rapid urbanization globally. Such a landscape poses huge demand for smart cities and high economic standards. Therefore, manufacturers are focusing on developing high-performance products and goods with standard sintered steel due to its wide-ranging advantages, thereby further driving market growth.

Sintered Steel Market : Report Scope

Global Sintered Steel Market: Segmentation

The global sintered steel market can be segmented into application, end-user, process, steel type, and region.

By application, the market can be segmented into electrical, drivetrain, chassis & body, transmission, engines, and others. The engine segment accounts for the largest share in the global sintered steel market as sintered steel products and parts find a large number of applications in the manufacturing of transmission, engines, and other sintered components used in the automatic parts in making of two-wheelers, buses & coaches, passenger vehicles, and others.

By end-user, the market can be segmented into electrical, industrial, transportation, and others. The electrical segment dominates the global sintered steel market due to the growing popularity of these products as high strength and economical solutions offering many designed options.

By process, the market can be segmented into additive manufacturing, power forging manufacturing, conventional manufacturing, and metal injection molding.

By type, the market can be segmented into the tool, alloy, carbon, and stainless steel.

Global Sintered Steel Market: Regional analysis

Asia Pacific accounts for the largest share in the global sintered steel market due to the growing demand for cost-effective and sustainable solutions from densely populated regions like China and India. The fast proliferation of the construction and transportation sector in the region will further accentuate the growth of the regional market. The surging population in the region is widening the scope of sintered steel. The growing industrialization and urbanization projects are likely to offer ample thrust to the growth of the regional market in the forthcoming years.

North America is expected to witness significant growth in forthcoming years due to the growing demand for electrical automobiles in the region.

Global Sintered Steel Market: Competitive Players

The global sintered steel market is led by players like:

• United States Metal Powders Inc
• Yingtan Longding New Materials & Technologies Ltd
• Sandvik AB
• Pometon Powder
• POLEMA
• Höganäs AB
• GKN
• Erasteel
• CNPC Powders
• Changsha Hualiu Metal Powders Ltd
• Advanced Technology (Bazhou) Special Powder Ltd

The global sintered steel market is segmented as follows:

By Type

• Tool
• Alloy
• Carbon
• Stainless Steel

By Process

• Additive Manufacturing
• Power Forging Manufacturing
• Conventional Manufacturing
• Metal Injection Molding

By End-User

• Electrical
• Industrial
• Transportation
• Others

By Application

• Electrical
• Drivetrain
• Chassis & Body
• Transmission
• Engines
• Others

Global Sintered Steel Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.