Press release
Sintered Steel Market Size to Witness Huge Growth USD 37.25 Billion by 2029 With Leading Region | Acerinox S.A., AMES Sintering Metallic Components, ASCO Sintering Co
Sintered Steel
Sintered steel exhibits very high strength and are resistant to wear, which makes it ideal for use in many applications across various industries. The global sintered steel market is expected to be driven by the increasing demand for the product from various end use industries. End use industries like aerospace, building & construction, automotive, and industrial and construction machinery are likely to offer ample scope for the market. In addition, increasing urban population necessitates the need for more affordable construction with environment friendly materials, thereby stimulating the growth of the global sintered steel market.
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Market Dynamics
✦ Market Drivers:
The emphasis on producing metal components at low cost with less waste and more accuracy is expected to fuel market expansion, particularly in the automotive sector. For making parts with qualities like high strength and corrosion resistance, steel is a popular alloy in industrial applications. Comparing sintering to other techniques like casting, stamping, and cutting reveals further benefits. Along with the flexibility of complicated design, the manufacture of sintered steel parts greatly lower
Given an increasing focus on strict standards, worries about the high cost of manufacturing, rising wastage in the manufacturing process, and issues regarding carbon footprints, the automobile industry is a significant end user of sintered steel. Over the course of the projected period, norms like Bharat Stage VI (BS-VI) are anticipated to present profitable prospects for sintered components.
Sintering is the appropriate technology for the mass production of such components considering the productivity advantages of the BS-VI norm, which focuses on lowering harmful emissions and requires manufacturers to include sensors before and after the catalytic converters. Sintered steel net parts are lightweight and offer better yield at a lower cost since the sintering process requires fewer production steps than conventional techniques, which results in reduced energy usage and a low carbon footprint. The demand for sintered steel is anticipated to increase over the next few years as a result of these benefits and the expanding global auto component market.
✦ Market Restraints:
Despite increasing demand from consumers, several drawbacks of sintering technology, including the challenge of producing big parts and the absence of high-strength in sintered components in comparison to cast irons or forged parts, are anticipated to have an impact on market growth. Additionally, the high cost of manufacturing equipment and machinery restricts large production. In addition to the limitations of technology, the raw material steel may one day be replaced by materials like aluminum due to the rapid advancement of technology.
Prominent Key players of the Sintered Steel Market survey report:
Historical data available in the report elaborates on the development of the Sintered Steel on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - Acerinox S.A., AMES Sintering Metallic Components, ASCO Sintering Co., GKN PLC, Hitachi Chemical, Sintercom India Limited, Mirach Metallurgy Co, Nippon Steel, Samvardhana Motherson Group, Schunk Sinter Metals, Sintercom India, Sumitomo Electric Industries.
Industry Development:
22 October : GKN powder metallurgy acquired Forecast 3D. GKN expanded its additive manufacturing capabilities to include plastics.
21 February, 2023: Nippon Steel Corporation and Teck Resources Limited, second largest producer of high-quality steelmaking coal in the world, announced an investment agreement. Nippon Steel to acquire 10% of common shares.
Sintered Steel Market Segmentation:
Sintered Steel Market By Type, 2023-2029, (USD Billion) (Kilotons)
» Stainless Steel
» Carbon Steel
» Alloy Steel
» Tool Steel
Sintered Steel Market By Process, 2023-2029, (USD Billion) (Kilotons)
» Metal Injection Molding (Mim)
» Conventional Manufacturing
» Powder Forging Manufacturing
» Additive Manufacturing
Sintered Steel Market By Application, 2023-2029, (USD Billion) (Kilotons)
» Engines
» Transmissions
» Body
» Chassis
» Drivetrain
» Electrical
Sintered Steel Market By End User, 2023-2029, (USD Billion) (Kilotons)
» Transportation
» Construction
» Automobile
» Electrical
The regional outlook by revenue covers the countries namely:
✦ North America (United States, Canada and Mexico)
✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
✦ South America (Brazil, Argentina, Colombia, and Rest of South America)
✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Read Full Report with TOC:
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Key Features of the Sintered Steel Market Report: -
⇨ Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.
⇨ Examine the market opportunities for stakeholders by identifying higher growth sections.
⇨ To study and analyse the global Sintered Steel industry status and forecast including key regions.
⇨ An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.
⇨ It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.
⇨ It helps you make strategic business decisions and investment plans.
Competitive Landscape
Competition has been growing for the Sintered Steel industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.
Highlight the Following Key Factors:
► Business Description: a particular description of agency operations and enterprise departments.
► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.
► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.
► Company History: The development of predominant occasions associated to the company.
► Main merchandise and services: A listing of the company's fundamental products, services, and brands.
► Main Competitors: A listing of the company's fundamental competitors.
► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.
► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.
Table of Contents
Global Sintered Steel Market Research Report 2023-2029
1 Sintered Steel Market Overview
1.1 Product Overview and Scope of Sintered Steel
1.2 Sintered Steel Segment by Type (Product Category)
1.3 Global Sintered Steel market Segment by Application
1.4 Global Sintered Steel Market by Region (2023-2029)
1.4.1 Global Sintered Steel Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)
1.4.2 North America Status and Prospect (2023-2029
1.4.3 Europe Status and Prospect (2023-2029)
1.4.4 China Status and Prospect (2023-2029)
1.4.5 Japan Status and Prospect (2023-2029)
1.4.6 Southeast Asia Status and Prospect (2023-2029)
1.4.7 India Status and Prospect (2023-2029)
1.5 Global Market Size (Value) of Sintered Steel (2023-2029)
1.5.1 Global Sintered Steel Revenue Status and Outlook (2023-2029)
1.5.2 Global Sintered Steel Capacity, Production Status and Outlook (2023-2029)
…
Why Choose Sintered Steel Market Report?
✔ Unbiased conclusions and market insights
✔ 24×7 customer service available to address client queries
✔ Highly efficient and experienced team of analysts striving to create top-quality reports
✔ Our reports have facilitated the growth of over 500 companies
✔ The systematic and methodical market research process
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