Sintered Steel Market is predicted to reach USD 35.2 billion at a CAGR of 4.30% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Sintered Steel Market”.

The sintered steel market is estimated to register a CAGR of 4.30% during the forecast period of 2023 to 2032.

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.

Sintered Steel Market Highlights

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.

Globally, the market for sintered steel was expanding steadily. Sintered steel, created via a powdered metallurgy method, is used in the industrial, aerospace, and automotive industries. The market demand was being driven by benefits like cost effectiveness, improved mechanical characteristics, and increased production efficiency. Consult current sources and industry studies for the most recent statistics.

Segment Analysis

The global sintered steel market has been segmented into steel type, process, application, and end use industry.

On the basis of steel type, the market is segmented into stainless steel, carbon steel, alloy steel and tool steel. The tool steel segment dominated the market in 2022. As the manufacturing and industrial sectors continue to expand, demand for cutting tools and other tooling components is increasing. Tool steel is essential for the creation of these tools due to its high hardness, wear resistance, and toughness.

Based on process, the global sintered steel market has been segmented into metal injection molding (Mim), additive manufacturing (Am), conventional manufacturing and powder forged manufacturing. The additive manufacturing (Am) category generated the most income in 2022. AM makes it feasible for companies to quickly test and iterate on design concepts before committing to full-scale manufacture. This quicker time-to-market is especially significant in industries like aerospace, automotive, and consumer products, where being first to market can give an edge in the market.

Based on application, the global sintered steel market has been segmented into engines, transmissions, bodies, chassis, drivetrains, electrical appliances and others. The engines segment dominated the market in 2022. Many industrial applications, such as power generators, agricultural equipment, and construction equipment, depend on engines. The growth of these industries, which is supported by urbanization, the development of infrastructure, and escalating industrialization, has an impact on engine demand.

Based on end use, the global sintered steel market has been segmented into transportation, electrical, industrial and others. The electrical segment dominated the market in 2022. High-tech electrical gear and a stable supply of electricity are required by the growth of industries like industrial, automobile, aerospace, and electronics.

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Regional Analysis

The global sintered steel market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Sintered Steel market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Sintered Steel market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Sintered Steel market comprises of Middle East, Africa, and Latin America.

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.

Moreover, 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.

Additionally, 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.

Furthermore, the need for sintered steel in the automotive, aerospace, and industrial sectors in Latin America is on the rise. Demand was rising as a result of cost effectiveness, higher mechanical qualities, and improved production efficiency. Consult current sources and industry studies for the most recent insights.

Key Findings of the Study

• The global sintered steel market is expected to reach USD 35.2 Billion by 2032, at a CAGR of 4.30% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market. The expansion of industries including the automotive, manufacturing, and construction sectors is what is driving the demand for sintered steel components.


• Based on end use, the electrical segment was attributed to holding the largest market in 2022.


• 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.