What is the Forecasted Market Size and Growth Rate for the Global Sintered Steel Market?
The sintered steel market has seen steady growth in recent years, escalating from $16.44 billion in 2024 to $17.23 billion in 2025 at a compound annual growth rate (CAGR) of 4.8%. This growth during the historic period was fueled by demand for lightweight and high-performance materials, increased adoption of sintered steel in the automotive industry, an expanding manufacturing and industrial sector, and the rising need for durable and robust materials.
Moreover, the sintered steel market is projected to continue its steady growth to reach $20.7 billion in 2029 at a CAGR of 4.7%. This growth in the forecast period is expected due to the burgeoning electric vehicle (EV) market, growing demand in aerospace and renewable energy sectors, advancements in additive manufacturing, and expanding exploration in oil and gas.
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What Are the Key Drivers for the Sintered Steel Market Growth?
Significant growth in the automotive sector and the rising demand for innovative designs are pivotal factors propelling the growth of the sintered steel market. The concepts of electrified, autonomous, connected, and shared vehicles are triggering innovation within the sector. The rapid rate of innovation, especially in software-based systems, is necessitating upgradable automobiles. Sintered components are increasingly being used to replace the existing forged metal parts in the automotive industry.
What are the Major Market Segments Within the Global Sintered Steel Market?
1) By Type: Stainless Steel, Carbon Steel, Alloy Steel, Tool Steel
2) By Process: Metal Injection Molding (MIM), Conventional Manufacturing, Powder Forging Manufacturing, Additive Manufacturing
3) By Application: Engines, Transmissions, Body, Chassis, Drivetrain, Electrical, Other Applications
4) By End-User Industry: Transportation, Industrial, Electrical, Other End-Users
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What Major Companies are Shaping the Sintered Steel Market?
Major companies operating in the sintered steel market include CNPC Powders Inc., Guest Keen & Nettlefolds Ltd., Samvardhana Motherson International Ltd., Hitachi Chemical Co. Ltd., The Miba Group AG, ASCO Sintering Co., Sintercom India Ltd., AMES BARCELONA SINTERING S. A., Schunk Sinter Metals GmbH, CNPC Powders Inc., and others.
What are Emerging Trends in the Sintered Steel Market?
Several leading companies in the sintered steel market are focusing on developing innovative processing technologies, such as metal injection moulding, to meet the demand for producing small, intricate metal parts at high volumes.
What Region is Driving Growth in the Sintered Steel Market?
Asia-Pacific was the largest market for sintered steel in 2024 and is also projected to be the fastest-growing region during the forecast period.
What Does The Sintered Steel Market Report 2025 Offer?
The Sintered Steel Market research report offers insightful global market size data, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Sintered steel is a type of steel that uses heat to fuse powdered material into a tougher, stronger structure, allowing for complex shapes and the production of alloys.
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