Sintered Steel Market Size Projected to Grow at a 4.30% CAGR by 2032 – Report by Market Research Future (MRFR)
Sep 18, 2023
The global sintered steel market is accounted to register a CAGR of 4.30% during the forecast period and is estimated to reach USD 35.2 Billion by 2032.
The Rising Demand for Sintered Steel
Sintered steel, a product of carefully compacted metal powders subjected to high temperatures and pressures, has long been a favorite in industries requiring strength, durability, and precision. What makes sintered steel particularly appealing is its ability to meet stringent engineering specifications while offering significant cost efficiencies compared to traditional manufacturing methods.
Innovations in Material Composition
Recent innovations in material composition have expanded the scope of sintered steel applications. From automotive components to cutting-edge medical devices, sintered steel is demonstrating its adaptability and versatility. The ability to incorporate various alloying elements has allowed manufacturers to customize sintered steel properties, creating tailor-made solutions for diverse industries.
The sintered steel market is also at the forefront of environmental sustainability. The sintering process itself generates minimal waste, with most excess powder being recyclable. Additionally, the inherent durability of sintered steel products contributes to a longer lifespan, reducing the need for frequent replacements and thereby lowering the carbon footprint. This combination of durability and eco-friendliness is propelling sintered steel into the spotlight as industries seek to meet stringent sustainability goals.
Download Report Sample Copy: https://www.marketresearchfuture.com/sample_request/12039
Influence on the Automotive Industry
One of the most notable areas of growth for sintered steel is the automotive sector. Automakers are increasingly turning to sintered steel components to reduce vehicle weight, improve fuel efficiency, and enhance safety. Sintered steel’s exceptional strength-to-weight ratio makes it an ideal choice for critical components such as gears, bearings, and brake parts. Furthermore, its resistance to corrosion ensures a longer lifespan for these components, contributing to overall vehicle longevity.
In the healthcare field, sintered steel is playing a pivotal role in advancing medical device technology. From surgical instruments to prosthetic implants, the use of sintered steel is revolutionizing patient care. Its biocompatibility, resistance to wear, and precision make it a top choice for manufacturing medical devices that require high performance and reliability.
Aerospace is yet another sector experiencing the transformative power of sintered steel. The lightweight yet durable nature of sintered steel is a perfect fit for aircraft and spacecraft components. Its ability to withstand extreme temperatures and pressures is crucial for ensuring the safety and functionality of aerospace equipment.
Stainless steel, carbon steel, alloy steel, and tool steel are included in the Sintered Steel Market segmentation in terms of the steel type.
The process-based segments of the sintered steel market are metal injection molding (Mim), additive manufacturing (Am), conventional manufacturing, and powder forging. The category of additive manufacturing (Am) produced the highest level of revenue in 2022.
Ask for Customization: https://www.marketresearchfuture.com/ask_for_customize/12039
Engines, transmissions, bodywork, chassis, drivetrains, electrical appliances, and other items are included in the application-based segmentation of the sintered steel market. In 2022, the market’s dominant segment was engines.
By End Use Industry
With respect to the end-use industry, the sintered steel market is split into transportation, electrical, industrial, and other sectors. In 2022, the electrical sector dominated the industry.
MRFR recognizes the following companies as the key players in the global sintered steel market— Advanced Technology (Bazhou) Special Powder Ltd; Changsha Hualiu Metal Powders Ltd (HL Powder); CNPC Powders; Erasteel; GKN; Höganäs AB; POLEMA; Pometon Powder; Sandvik AB; Yingtan Longding New Materials & Technologies Ltd; United States Metal Powders, Inc.
Share Your Queries: https://www.marketresearchfuture.com/enquiry/12039
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact: Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: email@example.com Website: https://www.marketresearchfuture.com
Research Newswire, English