New York, NY -- (SBWIRE) -- 12/21/2020 -- The Global Sintered Steel market size is forecast to reach USD 31.71 billion by 2027, according to Reports and Data. Low material waste, low cost, good accuracy, minimal or no calibration processes are some of the benefits associated with sintered steel resulting in its increasing popularity in the automotive sector.

The valuation for the sintered steel market was USD 23.20 Billion in 2019 and is forecast to have a growth rate of 3.1% during the forecast period. On the basis of product type, the stainless-steel segment was seen to occupying more than 30.0% of the market in 2019. The wide range of applications of stainless steel in various industries like construction, automotive, food & catering due to its strength and corrosion resistance contributes to the market share held by this segment. With respect to the process, Metal Injection Moulding (MIM) segment is projected to witness a growth rate of 4.0% during the forecast period.

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The report is further updated with the changes in the market dynamics and trends owing to the COVID-19 pandemic. The pandemic has affected the global economy by changing the dynamics of the supply chains, inducing financial difficulties, and the increasing volatility of market prices. The report further estimates the overall impact of the pandemic on the Sintered Steel market and offers key insights into the future of the market over the coming years.

The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Sintered Steel market and profiled in the report are:

Hitachi Chemical, Sumitomo Electric Industries Limited, Samvardhana Motherson Group, GKN PLC, Schunk Sinter Metals, The Miba Group, ASCO Sintering Co., Sintercom India Limited, AMES Sintered Metallic Components, and Capstan Inc.

The report covers the assessment of the historical data of the market to offer key insights into the current and emerging trends in the business sphere. The report considers 2017-2018 as historical years, 2019 as the base year, and 2020-2027 as forecast years. The report also discusses in detail the mergers and acquisitions, collaborations, joint ventures, product launches, brand promotions, corporate and government deals, and partnerships occurring in the market.

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The report further segments the market on the basis of product types and application spectrum offered by the market.

Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Stainless Steel
Tool Steel
Alloy Steel
Carbon Steel

Process Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Metal Injection Molding (MIM)
Conventional Manufacturing
Powder Forged Manufacturing
Additive Manufacturing (AM)

End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Automotive & transportation
Electrical
Industrial
Construction
Others

The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Sintered Steel market and its competitive landscape.

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Regional Outlook

Asia Pacific region is expected to dominate the sintered steel market. The dominance of the APAC region in the market is attributed to the well-established automotive sector and increasing spending on industrial & infrastructural developments. Other regions like Latin America is holding considerable opportunity for further expansion of the market for industry players. A budget of USD 4.5 trillion has been set aside by Latin America for infrastructural developments over the coming ten years, which will stimulate the growth of the sintered steel market.

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