Sintered Steel Global Market 2024 To Reach $19.82 Billion By 2028 At Rate Of 4.4%

The Business Research Company's Sintered Steel Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 9, 2024 /EINPresswire.com/ -- The sintered steel market has experienced robust growth in recent years, expanding from $15.84 billion in 2023 to $16.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to demand for lightweight and high-performance materials, increased adoption of sintered steel in the automotive industry, growing manufacturing and industrial sector, need for durable and strong materials, expansion of the electronics industry.

What Is The Estimated Market Size Of The Global Sintered Steel Market And Its Annual Growth Rate?
The sintered steel market is projected to continue its strong growth, reaching $19.82 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to growing electric vehicle (ev) market, rising demand in aerospace, renewable energy sector demand, advancements in additive manufacturing, oil and gas exploration. Major trends in the forecast period include powder metallurgy advancements, integration of advanced alloys, digitalization and industry 4.0, application in 5g technology, emerging technological advancements in the powder metallurgy industry.

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Growth Driver Of The Sintered Steel Market
The expansion of the automotive sector and increasing demand for innovative designs are contributing to the growth of the sintered steel market. The concepts of electrified, autonomous, connected, and shared will result in a rise in the rate of innovation within the automotive sector. The increasing speed of innovation, mainly in software-based systems, will require cars to be upgradable. Sintered components are finding applications within the automotive industry in areas where they will replace existing forged metal parts.

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Which Market Players Are Driving The Sintered Steel Market Growth?
Key players in the 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 Are the Key Trends That Influence The Sintered Steel Market Size?
Major companies operating in the sintered steel market are focusing on developing innovative products, such as nickel-free alloyed steel powder, to better meet the needs of their existing consumers. Nickel-free alloyed steel powder is a kind of powdered metal that is specially designed to produce steel without the use of nickel as an alloying ingredient.

How Is The Global Sintered Steel Market 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

Geographical Insights: North America Leading The Sintered Steel Market
Asia-Pacific was the largest region in the sintered steel market in 2023 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

Sintered Steel Market Definition
Sintered steel is a type of steel metal that uses heat to fuse the powdered material into a tougher, stronger portion to form complex shapes, produce alloys, or work in metals with extremely high melting points. It is low cost, low material waste, accurate, and requires little or no calibration processes.

Sintered Steel Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global sintered steel market report covering trends, opportunities, strategies, and more
The Sintered Steel Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sintered steel market size, sintered steel market drivers and trends, sintered steel major players and sintered steel market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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