Sintered Steel Market

Numerous benefits of industrial machinery are driving the market growth

The market for sintered steel is expanding largely due to industrial machines. Numerous benefits make the use of sintered steel components in industrial machinery an appealing option for producers in a variety of industries. This has led to an increase in demand for products made of sintered steel, which has helped the industry.

Sintered steel is more affordable than conventional manufacturing techniques. Sintering is a powder metallurgy method that allows for the cost-effective manufacture of complicated forms with little material waste. This cost-effectiveness is particularly important in the industrial machinery industry, where mass component manufacture is usual. Sintered steel is a popular option in price-sensitive sectors because manufacturers may reduce costs while preserving the necessary mechanical qualities.

Parts made of sintered steel help industrial machinery operate more productively and efficiently overall. A less amount of further machining and assembly work is required thanks to the exact dimensional control achieved during the sintering process, which also ensures correct and consistent products. Both producers and end users profit from the shorter manufacturing cycles and cheaper production costs that result from this. The higher output and decreased downtime for industrial machines result from higher efficiency, which boosts total industrial productivity.

Continuous innovation and improvements in powder metallurgy and sintering technologies are other significant factor fueling the market's expansion. New sintered steel alloys with superior qualities, such as increased fatigue resistance, higher temperature tolerance, and better corrosion resistance, have been developed as a result of research and development activities. These developments increase the possible uses of sintered steel in industrial machinery and, in some cases, enable it to take the place of more conventional components like cast iron and forged steel.

Manufacturers are increasingly turning to sintered steel as a practical answer as they look for methods to improve the performance of their equipment.

Regulations and environmental concerns are impacting the use of sintered steel in industrial machines. Components made of sintered steel can help achieve sustainability goals by reducing emissions and improving energy efficiency. The demand for ecologically friendly materials like sintered steel is projected to rise as industries come under increasing pressure to reduce their environmental effect. The environmental friendliness of sintered steel components is further improved by the recycling and reusing of steel particles during the sintering process. Thus, driving the Sintered Steel market revenue.

The new "High Green Strength Stainless Steel Powders" from Ametek Specialty Metal Products (SMP), located in Collegeville, Pennsylvania, USA, are set to be released in 2024 and are appropriate for a variety of powder-metallurgy parts used in the automotive and industrial industries.

In March 2023, Sumitomo Electric Industries Ltd. and US Conec Ltd. signed a definitive license agreement that allows Sumitomo Electric Lightwave Corp. to make MMC connector and TMT ferrule components for use in next-generation multi-fiber high-density cable solutions deployments.

The Global Sintered Steel Market Industry is poised for substantial growth, with projections indicating a market size of 26.2 USD Billion in 2024 and an anticipated increase to 41.6 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 4.3% from 2025 to 2035, reflecting the industry's resilience and adaptability in meeting evolving market demands. Factors such as technological advancements, rising demand for lightweight materials, and increased investment in infrastructure are expected to contribute to this positive outlook.

The Global Sintered Steel Market Industry experiences an increasing demand for lightweight materials across various sectors, particularly in automotive and aerospace. Manufacturers are increasingly adopting sintered steel components due to their favorable strength-to-weight ratios. This trend is driven by the need for fuel-efficient vehicles and aircraft, which require materials that reduce overall weight without compromising structural integrity. As a result, the market is projected to reach 26.2 USD Billion in 2024, reflecting a growing preference for sintered steel in applications where weight reduction is critical.

The automotive sector serves as a significant driver for the Global Sintered Steel Market Industry, with sintered steel components being utilized in various vehicle parts such as gears, bearings, and structural components. The shift towards electric vehicles (EVs) further amplifies this trend, as manufacturers seek durable and lightweight materials to enhance performance and efficiency. The market's growth is underscored by projections indicating that it will reach 41.6 USD Billion by 2035, reflecting the automotive industry's ongoing transition towards advanced materials that meet evolving consumer demands.

Increased investment in infrastructure development globally is positively impacting the Global Sintered Steel Market Industry. Governments and private entities are allocating substantial resources to enhance transportation networks, energy facilities, and urban infrastructure. Sintered steel's durability and versatility make it an ideal choice for construction and infrastructure applications, ranging from structural components to tools and machinery. This trend is expected to contribute to the market's expansion, as the demand for reliable materials in infrastructure projects continues to grow, aligning with global sustainability goals.

Technological innovations in manufacturing processes are propelling the Global Sintered Steel Market Industry forward. Advanced techniques such as powder metallurgy and additive manufacturing enhance the efficiency and precision of sintered steel production. These advancements not only improve product quality but also reduce waste and energy consumption, making the process more sustainable. As industries increasingly prioritize eco-friendly practices, the adoption of these technologies is likely to drive market growth. The anticipated CAGR of 4.3% from 2025 to 2035 indicates a robust future for sintered steel as manufacturers leverage these innovations.

Rising awareness of sustainable manufacturing practices is influencing the Global Sintered Steel Market Industry. As industries face increasing pressure to adopt environmentally friendly practices, sintered steel emerges as a viable alternative due to its recyclability and reduced waste generation during production. This shift towards sustainability is not only beneficial for the environment but also aligns with consumer preferences for eco-conscious products. The growing emphasis on sustainability is likely to drive demand for sintered steel, as manufacturers seek to meet regulatory requirements and consumer expectations.

By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific Sintered Steel Market dominated this market in 2022 (45.80%). China, India, and Southeast Asian states are just a few of the nations in the Asia Pacific region that are rapidly industrializing. The need for sintered steel components is driven by the growth of sectors like the automotive, manufacturing, and construction industries. Moreover, China’s Sintered Steel market held the largest market share, and the Indian Sintered Steel market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: SINTERED STEEL MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Sintered Steel market accounts for the second-largest market share. With businesses engaged in the manufacture of aircraft and defense technology, Europe boasts a robust aerospace and defense industry. Demand in this area is driven by the usage of sintered steel in essential aerospace components such aircraft engine parts, landing gear, and structural components. Further, the German Sintered Steel market held the largest market share, and the UK Sintered Steel market was the fastest growing market in the European region.

The North America Sintered Steel Market is expected to grow at the fastest CAGR from 2023 to 2032. Both the automotive and aerospace sectors in North America are large users of sintered steel components. The market for sintered steel is expanding due to the need for high-quality, lightweight components in these sectors. Further, the U.S. Sintered Steel market held the largest market share, and the Canada Sintered Steel market was the fastest growing market in the North America region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Sintered Steel market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Sintered Steel industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Sintered Steel industry to benefit clients and increase the market sector. In recent years, the Sintered Steel industry has offered some of the most significant advantages to medicine.

Major players in the Sintered Steel market, including Advanced Technology (Bazhou) Special Powder Ltd, Changsha Hualiu Metal Powders Ltd (HL Powder), CNPC Powders, Erasteel, GKN, Hoganas AB, POLEMA, Pometon Powder, Sandvik AB, Yingtan Longding New Materials & Technologies Ltd, United States Metal Powders, Inc. and others, are attempting to increase market demand by investing in research and development operations.

A high-tech engineering firm with a focus on industrial processes and material technologies is called Sandvik AB (Sandvik). The company's main goods and services include furnace products and heating systems, stainless steel and titanium, mining and rock extraction equipment, cutting tools and tooling systems, and digital manufacturing solutions. The company serves a number of industries, including nuclear power generation, oil and gas, process industry, renewable energy, mining, aerospace, automotive, construction, general engineering, and mining. Through a network of direct sales representatives and distributors in the Americas, Europe, Africa, the Middle East, and Asia-Pacific, the corporation offers its products.

The headquarters of Sandvik are in Stockholm, Sweden.

Since its founding in March 2011, Yingtan Longding New Materials & Technology Co., Ltd. has strictly adhered to the operating concept of "integrity management, innovation-driving, and customer foremost" in an effort to increase its influence in the industry. The company is dedicated to developing cutting-edge UHP mass-flow water-gas joint atomization techniques and has introduced innovative processes like the most recent metal powder ultra-micro balling preparation method from Europe and surface modification of powdered materials that is exclusive to Japan.

The FeSi series soft magnetic powder, superalloy powder, stainless steel series MIM metal powder with high sphericity and tap density, and other items made by it have attained the globally advanced level. The company's reliable and affordable powder products significantly increase the product competitiveness for its customers.