What Has Been the Growth Trajectory for the Sintered Steel Market in Recent Years?
The sintered steel market has seen considerable growth due to a variety of factors.
• The market size for sintered steel has been experiencing consistent growth over the past few years. The market is projected to increase from a value of $16.44 billion in 2024 to approximately $17.23 billion in 2025, showcasing a compound annual growth rate (CAGR) of 4.8%.
The historic growth trajectory has largely been influenced by the heightened demand for high-efficiency and lightweight materials. Additionally, the rising utilization of sintered steel in the automotive sector, the expansion of manufacturing and industrial sectors, the requirement for strong and durable materials, and the growing electronics industry have all contributed to this upward trend.
How Does the Forecast Look for the Sintered Steel Market?
The sintered steel market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions indicate a consistent expansion of the sintered steel market in the ensuing years, with a projected size of $20.7 billion by 2029, accounting for a compound annual growth rate (CAGR) of 4.7%.
This anticipated growth within the forecast timeline is largely due to a surge in the electric vehicle (EV) market, increased demand within the aerospace sector, the renewable energy industry's growing needs, advancements in additive manufacturing, and a rise in oil and gas exploration. The forecast period will also witness numerous evolving trends including progressive developments in powder metallurgy, the incorporation of high-tech alloys, the advent of Industry 4.0 and digitalization, utilization in 5g technology, and a wave of emerging technological advancements within the powder metallurgy sector.
What Are the Critical Driver Fuelling the Sintered Steel Market's Growth?
The automotive sector's expansion and the escalating need for unique designs are fueling the sintered steel market's growth. The emergence of the electrified, autonomous, connected, and shared concepts will intensify innovation within the automotive industry. The amplifying pace of novelty, particularly in systems rooted in software, will necessitate vehicle upgradability. Sintered components are increasingly being utilized in the automotive sector, replacing traditional forged metal parts. For example, in August 2023, the Board of Governors of the Federal Reserve System, a government agency based in the United States, reported that total automobile production in the country rose to 11.77 million units in July, a jump from 10.91 million units in June. The robust expansion of the automotive industry along with the surging demand for innovative designs will propel the growth trajectory of the sintered steel market.
How Is the Sintered Steel Market segmented?
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
Subsegments:
1) By Stainless Steel: Austenitic Stainless Steel, Ferritic Stainless Steel, Martensitic Stainless Steel
2) By Carbon Steel: Low Carbon Steel, Medium Carbon Steel, High Carbon Steel
3) By Alloy Steel: Low-Alloy Steel, High-Alloy Steel
4) By Tool Steel: High-Speed Steel (HSS), Cold Work Tool Steel, Hot Work Tool Steel
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What New Trends Are Influencing the Sintered Steel Market?
In the sintered steel market, leading companies are concentrating on the development of innovative processing techniques, including metal injection moulding, to cater to the high volume requirements for small, complex metal components. Metal injection moulding converges plastic injection moulding and powder metallurgy to manufacture small, complex metal parts with superior precision and efficiency. As an illustration, in June 2024, Desktop Metal, a technology firm based in the United States, introduced PureSinter Furnace. This device is a high-purity, single-run debinding and sintering system curated for processing metal parts manufactured by additive production methods such as bound metal deposition and binder jetting, along with conventional techniques like metal injection molding (MIM) and press and sinter. The system addresses standard issues of sintering contamination with a patent-pending design introducing hot walls to avoid accumulation, thus providing an hermetic environment for increased purity and efficiency. Capable of attaining 1,420°C, it accommodates various gases like argon, nitrogen, forming gas, and air, and comes with a state-of-the-art cooling system negating the necessity for water cooling.
Who Are the Key Players in the Sintered Steel Market?
Major companies operating in the sintered steel market include:
• 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
What Is The Most Dominant Region In The Sintered Steel Market?
Asia-Pacific was the largest region in the sintered steel market in 2024 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
