Sintered Steel Market Size & Industry Overview

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The global sintered steel market is experiencing significant growth, driven by advancements in automotive, aerospace, and industrial sectors. Here's a comprehensive overview:​

The global Sintered Steel market was valued at USD 25.27 Billion in 2023 and growing at a CAGR of 4.10% from 2023 to 2033. The market is expected to reach USD 37.77 Billion by 2033. 


Recent Developments

  • Market ExpansionGKN Sinter Metals inaugurated a new 6,000 m² facility in Mexico to enhance production capacity. ​

  • Strategic AcquisitionsSandvik AB expanded its capabilities by acquiring Schenck Process Group's mining business in May 2022 and Deswik, a mine planning software provider, in April 2022. 

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Key Drivers

  • Automotive DemandThe automotive industry's need for lightweight and durable components is propelling the use of sintered steel.

  • Industrial Applications: Growth in construction and industrial machinery sectors is increasing demand for sintered steel parts.​


Restraints

  • Raw Material Costs: Fluctuating prices of raw materials can impact production costs and profitability.​

  • Technical Challenges: Maintaining consistent quality and meeting stringent specifications can be challenging in sintered steel manufacturing.​


Regional Segmentation Analysis

  • Asia-Pacific: Dominates the market with significant contributions from China, Japan, South Korea, and India. ​

  • EuropeCountries like Germany, France, and the UK are key players due to advanced manufacturing capabilities.

  • North AmericaThe US, Canada, and Mexico are significant markets, driven by automotive and aerospace industries.


Emerging Trends

  • Additive ManufacturingIntegration of 3D printing technologies is revolutionizing sintered steel component production.

  • Sustainable PracticesEmphasis on eco-friendly manufacturing processes is gaining traction.


Top Use Cases

  • Automotive ComponentsGears, bearings, and structural parts.

  • Aerospace PartsHigh-strength, lightweight components.

  • Industrial MachineryWear-resistant and durable parts for heavy machinery.


Major Challenges

  • Technological BarriersAdoption of new technologies requires significant investment and expertise.

  • Market CompetitionIntense competition from alternative materials and manufacturing methods.


Attractive Opportunities

  • Electric Vehicles (EVs)Rising EV production offers new avenues for sintered steel applications.

  • Infrastructure DevelopmentGlobal infrastructure projects are increasing demand for durable construction materials.


Leading Companies

  • Sumitomo Electric Industries (Japan)A major player in sintered parts manufacturing. ​

  • GKN PLC (UK)A global leader in powder metallurgy and sintered components. ​

  • Samvardhana Motherson (India)Provides sintered components for automotive applications. ​

  • Hitachi Chemical (Japan)Engages in the production of sintered materials for various industries. ​

  • The Miba Group (US)Specializes in high-performance sintered components. ​

  • ASCO Sintering (US)Offers custom-engineered powder metal components. ​

  • Sintercom IndiaFocuses on manufacturing sintered components for the automotive sector. ​

  • AMES Sintering Metallic Components (Spain)Provides a wide range of sintered parts for various applications. ​

  • Schunk Sinter Metals (Germany)Develops and produces sintered metal components. ​


These insights provide a comprehensive understanding of the sintered steel market, highlighting key developments, challenges, and opportunities.

 
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