According to a research report published by Spherical Insights & Consulting, the Global Sintered Steel Market Size is Expected to Grow from USD 0.159 Billion in 2023 to USD 0.286 Billion by 2033, at a CAGR of 6.05% during the forecast period 2023-2033.

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Sintered steel is produced through sintering, a process where powdered steel is heated below its melting point to bond particles without fully liquefying them, and used in powder metallurgy for creating complex, high-precision parts. The automotive sector is a key driver of the growing market for sintered steel since these components are essential for increasing fuel efficiency and lightweight. The consumer electronics industry, the need for precise manufacturing components, and the demand for electric vehicles are the main drivers of the growth in sintered steel. Its popularity is influenced by its capacity to produce intricate shapes while retaining a high level of strength. Sintering’s near-net-shape capabilities optimize material utilization, minimize waste, and lower manufacturing costs. It enables customized shapes, particularly in niche markets like medical devices or aerospace. Sintered steel is popular in international markets and encourages economical solutions without sacrificing quality because of its low production costs. The Indian government has started several programs, for instance, the Production Linked Incentive (PLI) Scheme for Specialty Steel, to help the steel sector. In addition to lowering imports, this program seeks to draw in capital investments and encourage domestic production of specialty steel. An additional capacity of approximately 25 million tonnes (MT) of specialty steel is expected to be created with the estimated Rs. 29,500 crores in additional investment under this scheme. However, global events and supply chain disruptions present risks, and material restrictions, initial investment, and the perception of inferiority to traditional methods limit the versatility and potential market acceptance of sintered steel.

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Sintered Steel Market Size, Share, and COVID-19 Impact Analysis, By Application (Automotive and Machinery & Equipment), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

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The machinery & equipment segment is predicted to hold the largest market share through the forecast period.

Based on the application, the sintered steel market is classified into automotive and machinery & equipment. Among these, the machinery & equipment segment is predicted to hold the largest market share through the forecast period. The machinery and equipment market is driven by the need for industrial machinery, and sintered steel is a common material for gears, bushings, and bearings because of its strength, durability, affordability, and capacity to support heavy loads.

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North America is estimated to hold the largest share of the sintered steel market over the forecast period.

North America is estimated to hold the largest share of the sintered steel market over the forecast period. North America’s automotive hub and aerospace sector are leveraging sintered steel for lightweight, fuel-efficient, and precision components. The consumer electronics industry, a center of technical innovation, can also benefit from the use of sintered steel in complex, high-precision components, highlighting its potential in North America’s automotive, aerospace, and consumer electronics sectors.

Asia Pacific is predicted to have the fastest CAGR growth in the sintered steel market over the forecast period. The automotive, electronics, and equipment sectors are anticipated to propel the sintered steel market due to Asia Pacific’s manufacturing hub and vast industrial infrastructure. There is a lot of promise in the expanding auto industries of China and India, which emphasize electric vehicles, lightweight, and fuel efficiency.

Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the sintered steel market include POSCO, Synalloy Corporation, RTI Industries, NIPPON STEEL CORPORATION, Outokumpu, ArcelorMittal, Schmolz+Bickenbach AG, Aperam, ThyssenKrupp Stainless GmbH, Sandvik AB, Viraj Profiles Limited, Sandmeyer Steel Company, JSCMS, Acerinox S.A., Mirach Metallurgy Co., Limited, and Others.

Recent Development:

• In December 2024, Sumitomo Electric Hardmetal introduced a number of new products, such as the SUMIBORONTM BNC2105/BNC2115/BNC2125 Inserts for hardened steel machining and the SUMIBORONTM BN7125/BN7115 Inserts for cast iron and sintered alloy machining. The purpose of these new products is to improve machining performance and efficiency.
• In April 2022, Deswik, the biggest and most prominent supplier of mine planning software, was acquired by Sandvik, as previously announced.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the sintered steel market based on the below-mentioned segments:

Global Sintered Steel Market, Product

• Automotive
• Machinery & Equipment

Global Sintered Steel Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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