Sintered Steel Market: By Product Type, By Process, and Powder Forging Manufacturing), By Application, By End User and Region Forecast 2019-2030
Sintered Steel Market size was valued at US$ 24.61 million in 2023 and is expected to reach US$ 33.92 million by 2030, at a CAGR of 6.0% from 2024-2030. Sintering is a manufacturing method that produces a homogeneous solid material by applying heat or pressure to a compact powder. Sintering is often used to minimize porosity and increase the thermal conductivity, strength, and electrical conductivity of a base material. The global Sintering Market is predicted to benefit from powder metallurgy's competent development and applications in a variety of industries. Power metallurgy-based process technologies, such as hot isostatic pressing (HIP) with particularly good features, are largely employed in land-based and aero-engine gas turbine applications. Titanium powder metallurgy is gaining appeal in the aviation industry for weight reduction in replacement steel parts and cost reductions in sectors where wrought-route titanium is already used. Sintering is a manufacturing process that includes heating metal alloys to just below their melting temperatures and then shaping them into complex and unique shapes. It occurs naturally in mineral formations.
During the production process, sintering is typically utilised to shape materials having extremely high melting points, such as molybdenum and tungsten. Mergers and acquisitions are improving firm market shares in the market. Abrasion resistance, corrosion resistance, and lightweight are just a few of the benefits of sintered parts. Due to an increasing preference for sintering over traditional manufacturing processes, the Sintering Market is developing. Sintering is a thermal process that increases the strength and structural integrity of a material. this report studies global Market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, The global report includes human demographics; regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed the global market to better equip clients with possible investment opportunities across the regions (regional Investment hot spots) and market unmet needs (Product opportunities).
Study Period
2024-2030Base Year
2023CAGR
6.0%Largest Market
Asia-PacificFastest Growing Market
Europe
Sintered steel has a high strength and wear resistance, making it appropriate for a variety of applications in a variety of sectors. The increasing demand for sintered steel from various end-use industries is likely to boost the global market.
Asia Pacific accounted for larger revenue share in global sintered steel market with considerable CAGR. The growth in this region, especially in emerging economies such as India and China can be attributed to rising in the usage automobiles and electronic & electric products due to increasing manufacturing industries.
European market dominates by advanced innovations and renovations systems. European region is expected to dominate the market growth due to ecumenically developed countries such as Germany. In North America sintered steel is largely driven by the urbanizations, and skilled manpower, increase in disposable incomes.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 24.61 million |
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Market Size in 2030 |
US$ 33.92 million |
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Market CAGR |
6.0% |
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By Type |
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By Process |
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By Application |
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The sintered steel market size was valued at US$ 24.61 million in 2023 and is projected to reach US$ 33.92 million by 2030 at a CAGR of 6.0% from 2024-2030.
The sintered steel market key players are: AxoGen Inc. (U.S.) Baxter International (U.S.) Medtronic (US) Cyberonics Inc. (U.S.) Integra Lifesciences Corporation (U.S.) Boston Scientific (US) Abbott Laboratories (US) LivaNova (UK) Baxter (US) AxoGen (US) Stryker (US)
The sintered steel market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.
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