advanced sintering technologies market was valued at USD 964.14 million in 2020 and is expected to register a CAGR of 7.49% to reach USD 1,657.50 million by the end of 2028.
Sintering is fusing particles into a single solid mass by applying pressure and heat to the materials without melting them. Metal, ceramic, plastic, and other materials are commonly sintered products. Powder sintering is a technique for making metal powders stronger and sturdier. In metallurgy, the sintering process involves heat treatment of metal powders, as well as other materials such as alloying elements, in a single, elongated furnace with different temperature zones. To avoid melting, the sintering temperature is kept below the melting point of the materials. Sintering can be used for a variety of purposes. It is frequently used on metals with high melting points, and one of its main applications is to join metal particles together. Sintering can also be used to reduce the porosity of a material's surface, which can improve its properties.
The protuberant factors favoring the global market growth are the growing demand for advanced sintering technologies from the automotive and aerospace industries. The growth of the automotive industry coupled with the rising demand for lightweight and high-strength components is expected to boost demand for advanced sintering technologies in automotive applications, including transmissions, engines, and chassis components. Sintering technology is steadily gaining traction in the global automotive industry. Automotive sintered components are used in transmissions, engines, chassis, door lock parts, steering, suspension, alternators, brake parts, seat assembly components, and others. Sintered parts, such as bearings and gears, are used in a wide range of vehicles. However, depending on the application, the size, strength, and function of these bearings and gears may vary. Due to the complexities and criticalities involved in the components, there will be an increase in demand for automotive sintered components as BS-VI emission norms come into effect in April 2020.
Sintering of ceramics is one of the oldest and common applications of advanced sintering technologies. Some of the ceramic materials include Alumina (Al2O3), Zirconia (ZrO2), Aluminium Nitride, Boron Nitride (BN), Silicon Nitride (Si3N4), and Silicon Carbide (SiC), amongst others. Sintered ceramic products offer various advantages, including hardness, high mechanical resistance, dimensional stability (even at high temperatures), resistance to wear and corrosion, electrically insulating, resistance to chemical products, and ability to withstand high temperatures. Sintered ceramic products are widely used in the aerospace industry to manufacture aircraft components such as gas turbine engines, engine nozzles, tail cones, nose caps, rudder, fins, leading edges, body flaps, panels, and other engine components. Brakes, bearings, seals, and other wear-resistant components; armor for helicopters; electronic thermal management structures; lightweight optical components (e.g., silicon carbide mirrors); radiators (i.e., cooling systems) for space vehicles; and windshield coatings are some of the other applications of sintered ceramic products in the aerospace industry. Ceramic components for the aerospace industry frequently have complex shapes, which has prompted the development of new technologies such as 3D printing.
However, fluctuating raw material prices are a key restraint in this market. Iron, steel, brass, and copper are majorly used metals in sintering technologies. The price of iron ore has fluctuated over the past five years greatly as its global demand has witnessed ups and downs with economic recession and expansion. The price of iron is primarily determined by the ability of iron suppliers to extract and transport the product, as well as the demand for goods and services that require iron, majorly the steel industry. The other factors include economic growth, interest rates, availability and attractiveness of substitute goods, and political considerations. Moreover, a few key players, both on the supply and demand side, dominate the iron ore market. As per the US Geological Survey, the top five iron ore-producing countries control about 85% of the production and 73% of reserves.
COVID Impact Analysis
Many key industries have been negatively impacted by the global slowdown in manufacturing output that began in the second half of 2019 and the more recent rapid spread of the coronavirus (COVID-19) around the world. The preventive and protective measures taken by the government, public health officers, and producers in response to COVID-19 have had and will continue to have a negative impact on businesses, suppliers, distribution channels, and end users, including indefinite business shutdowns or disruptions, reduced operations, declined ability to supply products or decreased demand for products. The COVID-19, in particular, has forced many manufacturing industries in the world's most developed economies to reduce output, resulting in lower demand for raw materials like metals. As a result, metal prices have been fluctuating since the beginning of 2020.
According to a recent survey by the National Association of Manufacturers, 53% of manufacturing companies expect COVID-19 to change their operations in the coming months, and 35% are currently experiencing supply chain disruptions. Organizations must be able to adapt quickly to operate in a rapidly changing business environment. Increasing complexity and the need for shorter development and product life cycles have been driving complexity and the need for shorter development and product life cycles for years. The impact of COVID-19 has accelerated these trends, and many businesses must now adapt to increasingly difficult market conditions. As these disruptions emerge at unprecedented rates and magnitudes, businesses are having to adapt and respond in an ever-changing global environment to de-risk supply chains, safely maintain operations, continue production, and ensure the availability of their products.
The global advanced sintering technologies market faced a deep recession caused by the effects of lockdowns in most regions to slow down the spread of COVID-19. As a result, the demand has virtually dampened during the period and is unlikely to be revived until the situation comes back to normal. The major consumers of advanced sintering technologies such as automotive, aerospace, and electronics had shut down their production facilities resulting in a decline in demand for technologies globally. However, with the lift of lockdown measures and trade restrictions, the demand for advanced sintering technologies is expected to gain pace and drive market growth.
Supply Chain Analysis
The supply chain analysis evaluates every stage and step taken by stakeholders involved throughout the production and distribution of advanced sintering technologies. The supply chain includes raw materials and suppliers, advanced sintering technologies producers, distribution channels, and end-use industries.
Some of the key global suppliers of raw materials include ArcelorMittal SA, China BaowuSteel Group Corp., Ltd, NSSMC Group, Codelco, BHP, and others.
The global advanced sintering technologies market has been segmented on the basis of type, application, and region.
Based on type, the market has been segmented into conventional pressureless sintering, hot pressing, spark plasma sintering, microwave sintering, and others.
Global Advanced Sintering Technologies Market Revenue, by Application, 2020 (USD Million)
Sources: MRFR Analysis
On the basis of application, the market has been segmented into aerospace, automotive, electronics, energy, industrial, medical, and others. Among these, the automotive segment accounted for the largest share of 53.61% of the global advanced sintering technologies market and is anticipated to grow at 7.81% throughout the forecast period. This growth is mainly attributed to the growing demand for complex structures, high precision, superior mechanical qualities, and cost-effective automotive components.
Global Advanced Sintering Technologies Market Share, by Region, 2020 (%)
Sources: MRFR Analysis
The global advanced sintering technologies market has been studied across Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America held the biggest market share due to technical improvements and rising acceptance of technology in a diverse range of sectors. The highest share of North America is due to technological breakthroughs and the increased acceptance of technology in a wide range of industries. Furthermore, increasing demand from various end-use industries, particularly the aerospace and defense sector, increasing penetration of sintering technologies in medical and automotive, growth in demand for fuel-efficient vehicles, and rapidly increasing global industrialization are major growth drivers for the powder metallurgy market.
Key players profiled in this market include ALD Vacuum Technologies (Germany), FCT Systeme (Germany), Linn High Therm (Germany), BTU International (US), Sumitomo Heavy Industries Ltd. (Japan), EOS (Germany), Shanghai Gehang Vacuum Technology Co., Ltd (China), and ChinaSavvy (China).
Global Advanced Sintering Technologies Market, by Type
Global Advanced sintering technologies Market, by Application
Global Advanced sintering technologies Market, by Region
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