Sintered Steel Market

Segmentation By Type (Stainless Steel, Carbon Steel, Alloy Steel and Tool Steel); By Process (Metal Injection Molding, Conventional Manufacturing, Powder Forging Manufacturing and Additive Manufacturing); By Application (Engines, Transmissions, Chassis and Electrical Appliances) and By End User (Transportation, Automobile, Construction and Electrical) – Global Demand Analysis & Opportunity Outlook 2028

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Report ID: 2584 | Published On: Feb 16, 2023
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Market Segmentation

Our in-depth analysis of the sintered steel market includes the following segments:

By Type

  • Stainless Steel
  • Carbon Steel
  • Alloy Steel
  • Tool Steel

By Process

  • Metal Injection Molding
  • Conventional Manufacturing
  • Powder Forging Manufacturing
  • Additive Manufacturing

By Application

  • Engines
  • Transmissions
  • Chassis
  • Electrical Appliances

By End User

  • Transportation
  • Automobile
  • Construction
  • Electrical

By Region

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.

The market for sintered steel in Asia Pacific is anticipated to hold the largest share in the market on account of presence of leading market players in the region which manufacture and market sintered steel. Moreover, the growing requirements of steel components by construction, transportation and electrical industries are met in this region which further increases the product demand. 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.

The global sintered steel market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

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Market Size and Forecast

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. The global sintered steel market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. 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. 


Growth Drivers

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 market is predicted to grow over the forecast period.


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.

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Top Featured Companies Dominating the Market

    • 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

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

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