Global Sintered Steel Market
Global sintered steel market report gives comprehensive outlook on sintered steel across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global sintered steel market gives historical, current, and future market sizes (US$ Mn) on the basis of type, process, application, end user and region. 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, global sintered steel market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global sintered steel market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global sintered steel market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global sintered steel products.
Sintered Steel Market:
The global sintered steel market estimated to be valued US $ 22.9 Bn in 2019 and poised to grow at significant CAGR nearly 3.7% over 2020-2026. Due to the increase in the economic conditions rising in industrialization across the globe fueling the market growth. Additionally, compared to other first-class materials owing to its negligible maintenance and high durability materials which make it first choice in the automobile manufacturing to enhance the features such as less weight, more appeal and to increase the fuel efficiency. Moreover, technological advancement for new innovations and techniques for development of specialized materials for will boosts the growth of the sintered steel market. However, high cost of raw materials, non-degradable nature and the concerns related with environmental pollution due to the toxicity released during the manufacturing process are the major factors that hinder the growth of the sintered steel market.
Increasing Demand of Automobiles are fueling the Growth of the Sintered Steel Market
Rising economic standards and changing in the lifestyle, increasing in the huge number of smart cities and rapid urbanization. Key manufacturers are concentrating to develop and manufacture high-performance product and goods thus conventionally used materials are replaced with high standard sintered steel. These sintered steels have superior properties such as versatility, durability and flexibility have fostered innovations in terms of technologies and designs of the automobiles. Growing demand for various automobile furnishing product such as light panels & displays and others. Moreover, rising disposable income, technological advancement and rising demand will fuel the market growth during the forecast period.
Asia Pacific Accounts for Larger Market Revenue Share in Global Sintered Steel 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.
Key player’s profiles in the global sintered steel market include:
- GKN PLC
- Hitachi Chemical
- The Miba Group
- ASCO Sintering
- Sintercom India
- AMES Sintering Metallic Components
- Schunk Sinter Metals
- Samvardhana Motherson Group
- Sumitomo Electric Industries Limited
Global sintered steel market is surging owing to frequent acquisitions and launchings by the market players. In May 2019, Osaka based Sumitomo Electric Industries, Ltd. made an acquisition of Europe based producer of powdered metal components. These companies are Germany based Sinterwerke Herne GmbH and Switzerland based Sinterwerke Grenchen AG. Following these acquisitions, it is expected that Sumitomo Electric Industries will make every attempt to expand their presence in Europe.
- By Type
- Alloy Steel
- Carbon Steel
- Stainless Steel
- Tool Steel
- Additive Manufacturing
- Conventional Manufacturing
- Metal Injection Molding (MIM)
- Powder Forging Manufacturing
By End User
Others (Recreational/hobbies Equipment, sports, gun components, hardware’s, computers, etc.).
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Findings of the Report:
- Global sintered steel market expanding at significant CAGR over 2020 to 2026 due to increasing demand from manufacturing industries.
- Based on by type, process, application, end user sintered steel segment accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global sintered steel market.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market