The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Steady Growth Projections in the Sintered Steel Market

• The sintered steel market has witnessed robust growth, expanding from $15.84 billion in 2023 to $16.68 billion in 2024, boasting a compound annual growth rate (CAGR) of 5.3%.
• Factors contributing to this growth include the demand for lightweight, high-performance materials, increased adoption in the automotive industry, and the expansion of the electronics sector.

A Glimpse into the Future: Forecasts and Projections

• The trajectory of the sintered steel market points towards continued growth, with expectations to reach $19.82 billion by 2028, reflecting a CAGR of 4.4%.
• Anticipated drivers include the burgeoning electric vehicle market, aerospace demand, advancements in additive manufacturing, and the exploration activities in the oil and gas sector.

Driving Forces: Automotive Sector Expansion

• The automotive sector’s expansion, coupled with the demand for innovative designs, is a significant driver for the sintered steel market.
• Innovations such as electrification, autonomous driving, connectivity, and shared mobility are propelling the need for adaptable materials like sintered steel.
• Notable statistics from the Board of Governors of the Federal Reserve System highlight the increasing vehicle production rates in the United States, further emphasizing the market’s growth potential.

Read The Full Sintered Steel Market Report Here:

https://www.thebusinessresearchcompany.com/report/sintered-steel-global-market-report

Innovative Advancements in Sintered Steel

• Major companies within the sintered steel market are focusing on developing innovative products to cater to evolving consumer needs.
• Examples include the introduction of nickel-free alloyed steel powder, such as FM1300S, by JFE Steel Corporation, offering enhanced tensile strength and machinability while reducing costs and emissions.
• Strategic acquisitions, like Metal Powder Products, LLC’s acquisition of Proform Powdered Metals, Inc., further enhance market competitiveness and product portfolios.

Market Segmentation and Regional Insights

• The sintered steel market is segmented by type (stainless steel, carbon steel, alloy steel, tool steel), process (MIM, conventional manufacturing, powder forging, additive manufacturing), application, and end-user industry.
• Asia-Pacific emerges as the largest and fastest-growing region in the sintered steel market, underlining the region’s pivotal role in driving global market dynamics.

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The Sintered Steel Global Market Report 2024  provides an overview of the sintered steel market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The sintered steel market forecast analyzes sintered steel market size, sintered steel market share, leading competitor and their market positions.

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