Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Sintered Steel Market size was over USD 25.51 billion in 2024 and is anticipated to cross USD 41.43 billion by 2037, growing at more than 3.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of sintered steel is assessed at USD 26.33 billion.
Increasing wide-scale applications of sintered steel in production of automobile products owing to its favorable mechanical properties are the significant factors boosting the market growth.
Sintered Steel Sector: Growth Drivers and Challenges
Growth Drivers
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Increasing Applications of Sintered steel in Automotive, Aerospace and Industrial Machinery to Boost the Market Growth: There is an ever-growing technological advancement in the automotive sector, aerospace, machinery and other related industries all over the world. According to the World Steel Association, steel use is projected to increase by 1.5 times higher than present levels in order to meet the needs of our growing population. There is a rise in demand for sintered steel as a raw material to enhance the production output in several industries. This is anticipated to significantly expand the sintered steel market.
- Rapidly Growing Construction and Transportation Industry to Drive the Market Growth: The construction and transportation sector have potential growth and investment opportunities across all the world’s infrastructure activities. According to the American Road and Transportation Builders Association (ARTBA), in the year 2020, the U.S. transportation infrastructure market is expected to grow at least by 5%. Sintered steel is a commonly used and crucial component in almost all types of industries. On the back of these, the sintered steel market is predicted to grow over the forecast period.
Challenges
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High Production Costs to Hamper the Market Growth: There is an increasing cost involved in the production of sintered steel owing to the soaring alloy powder prices. Further, the cost of manufacturing sintered steels is higher as compared to other steels. This is estimated to hinder the growth of sintered steel market in the future.
Sintered Steel Market: Key Insights
| Report Attribute | Details |
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
3.8% |
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Base Year Market Size (2024) |
USD 25.51 billion |
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Forecast Year Market Size (2037) |
USD 41.43 billion |
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Regional Scope |
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Sintered steel Segmentation
The market is segmented by type into stainless steel, carbon steel, alloy steel and tool steel. Among these segments, the segment for stainless steel is anticipated to hold the leading share in the market on account of its wide application in construction as well as for use in transport, backed by the presence of several properties, such as high corrosion resistance, high strength, environment-friendly and good aesthetic appeal.
Our in-depth analysis of the global market includes the following segments
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By Type |
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By Process |
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By Application |
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By End User |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Sintered Steel Industry - Regional Synopsis
On the basis of regional analysis, the sintered steel market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia Pacific industry is poised to hold largest revenue share by 2037, propelled by growing requirements of steel components by construction, transportation and electrical industries are met in the region. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of extensive demand for automobile components coupled with the need for building cost-efficient and sustainable infrastructure in the region. The increasing number of new housing units along with growing opportunities in infrastructure and real estate investments in the region, especially in countries such as China, India, Indonesia and Japan further are anticipated to growth of the sintered steel market in Asia Pacific region.
Companies Dominating the Sintered Steel Landscape
- Sumitomo Electric Industries, Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Hitachi Chemical Co., Ltd.
- POSCO Engineering & Construction, Ltd.
- Nippon Steel Corporation
- Outokumpu
- Sintercom India Ltd.
- ArcelorMittal
- Aperam
- Schunk Sintermetalltechnik GmbH
Recent Developments
- January 2020: World Steel Association released a data stating that the global crude steel production reached 1,869.9 million tonnes (Mt) for the year 2019, up by 3.4% compared to 2018.
Author Credits: Richa Gupta
- Report ID: 2584
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT
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Sintered Steel Market Report Scope
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