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Sintered Steel Market Projected to Grow at 3.7% CAGR During 2024-2031 | Automotive End-User Segment Leads as Lightweight Component Demand Rises | DataM Intelligence
Sintered Steel Market
According to DataM Intelligence, the global sintered steel market is estimated to reach at a CAGR of 3.7% during the forecast period (2024-2031). This steady growth is propelled by increasing demand for lightweight and complex components in automotive applications, rising adoption in medical device manufacturing, growing aerospace industry requirements, expanding industrial machinery production, and continuous advancements in powder metallurgy technologies that enhance material properties and manufacturing efficiency.
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Browse in-depth TOC on "Sintered Steel Market"
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• 200 - Pages
Recent Developments (November 2025)
✅ GKN Powder Metallurgy (UK) launched a new high-strength stainless steel sintering technology in European automotive markets, achieving 20% better fatigue resistance for engine components while reducing weight by 15%.
✅ Sumitomo Electric Industries (Japan) developed a novel carbon steel sintering process for North American industrial applications, enabling production of larger and more complex components with improved dimensional accuracy.
✅ Hitachi Chemical Co., Ltd. (Japan) expanded production of medical-grade sintered stainless steel in China and India, increasing capacity by 30% to meet growing demand for surgical instruments and implantable devices.
✅ AMETEK Specialty Metal Products (USA) introduced a new alloy steel formulation with enhanced corrosion resistance for marine applications, specifically targeting European and Asian shipbuilding industries.
✅ Sandvik AB (Sweden) developed advanced tool steel sintering technology for aerospace components, receiving certification from major aircraft manufacturers in Europe and North America for critical engine parts.
Market Trends & Drivers
The Sintered Steel Market is experiencing consistent growth driven by the advantages of powder metallurgy, industry demand for complex components, and technological innovations in material science. Key trends include the development of high-performance alloy systems, advancement of net-shape manufacturing capabilities, expansion into new application areas, and growing focus on sustainable manufacturing processes. The automotive lightweighting initiatives, medical device innovation, and industrial automation growth are significantly contributing to market expansion.
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Competitive Landscape
The market features strong competition between global powder metallurgy companies, specialized sintered component manufacturers, and integrated steel producers.
1. GKN Powder Metallurgy maintained market leadership with 25% global share, expanding their automotive component business and reporting 12% revenue growth in 2024-2025 through strategic OEM partnerships.
2. Sumitomo Electric Industries captured 20% market share in industrial applications, securing long-term contracts with machinery manufacturers in Asia-Pacific and North America.
3. Hitachi Chemical Co., Ltd. dominated the medical segment with 18% market share, achieving 15% growth through expanded production capacity and new product approvals.
4. AMETEK Specialty Metal Products led the specialty alloys segment with 16% market share, reporting 14% growth in marine and corrosion-resistant applications.
5. Sandvik AB expanded their high-performance sintered steels with 12% market share, focusing on aerospace and tooling applications with 18% revenue growth.
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Segmentation Analysis
By Type
• Stainless Steel dominates the market with USD 8.2 billion in 2024, projected to grow at 3.9% CAGR, valued for its corrosion resistance, strength, and wide applicability across automotive, medical, and industrial sectors.
• Carbon Steel shows steady growth with USD 4.5 billion in 2024, expected to grow at 3.4% CAGR, preferred for cost-effective structural components and industrial applications.
• Alloy Steel demonstrates accelerated growth with USD 3.8 billion in 2024, expanding at 4.2% CAGR, driven by high-performance requirements in automotive and aerospace industries.
• Tool Steel maintains important position with USD 2.1 billion in 2024, growing at 3.6% CAGR for cutting tools and wear-resistant applications.
By Application
• Drivetrain components represent the largest segment with USD 5.8 billion in 2024, growing at 3.8% CAGR, driven by automotive transmission and engine component demands.
• Exhaust System applications show strong growth with USD 3.2 billion in 2024, expanding at 4.1% CAGR, supported by emission control requirements and lightweighting trends.
• Surgical Instruments demonstrates the fastest growth with USD 2.1 billion in 2024, growing at 4.8% CAGR, fueled by healthcare industry expansion and precision manufacturing needs.
• Metal Filters and Porous Components and Rotors and Impellers maintain consistent demand across various industrial sectors.
By End-User
• Automotive leads the market with USD 9.5 billion in 2024, growing at 3.8% CAGR, driven by lightweight component requirements and electric vehicle production growth.
• Industrial sector shows robust growth with USD 4.2 billion in 2024, expanding at 3.5% CAGR, for machinery, equipment, and tooling applications.
• Medical demonstrates accelerated growth with USD 2.8 billion in 2024, growing at 4.5% CAGR, particularly in surgical instruments and medical devices.
• Aerospace and Electrical & Electronics industries show specialized demand for high-performance sintered components.
Key Growth Drivers:
1. Automotive Lightweighting: Increasing demand for fuel-efficient vehicles driving adoption of lightweight sintered components
2. Manufacturing Efficiency: Cost-effectiveness and material efficiency of powder metallurgy processes compared to traditional manufacturing
3. Complex Geometries: Ability to produce net-shape or near-net-shape complex components reducing machining requirements
4. Material Performance: Continuous improvement in sintered steel properties matching or exceeding wrought materials
5. Industry 4.0 Integration: Adoption of advanced manufacturing technologies enhancing production capabilities and quality control
6. Sustainability Focus: Reduced material waste and energy consumption in sintered component manufacturing
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Regional Analysis:
Asia-Pacific dominates the sintered steel market with USD 10.8 billion in 2024, driven by massive automotive production, growing industrial manufacturing, and expanding medical device industry in China, Japan, and India. North America shows steady growth with USD 6.2 billion in 2024, supported by advanced automotive and aerospace industries. Europe demonstrates consistent expansion with USD 5.5 billion in 2024, focusing on high-performance and precision applications. Latin America and Middle East & Africa exhibit emerging potential with growing industrial development and manufacturing investments.
Related Reports:
1. Metal Injection Molding Market - https://www.datamintelligence.com/research-report/metal-injection-molding-market?jd
2. Automotive Lightweight Materials Market - https://www.datamintelligence.com/research-report/automotive-lightweight-materials-market?jd
3. High-Performance Alloys Market - https://www.datamintelligence.com/research-report/high-performance-alloys-market?jd
Contact Us:
Sai Kiran
DataM Intelligence 4market Research LLP
Phone: +1 877-441-4866
Email: Sai.k@datamintelligence.com
About DataM Intelligence
DataM Intelligence is a renowned provider of market research, delivering deep insights through pricing analysis, market share breakdowns, and competitive intelligence. The company specialises in strategic reports that guide businesses in high-growth sectors such as nutraceuticals and AI-driven health innovations.
To find out more, visit https://www.datamintelligence.com/ or follow us on Twitter, LinkedIn and Facebook.
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