Europe Sintering Market: Snapshot
Sintering is a manufacturing process in which metal alloys in powdered form are molded into unique and complex shapes by subjecting them to high temperatures just below the melting points of the metal alloys being used in the process. The process of sintering is being preferred over the traditional methods of manufacturing components, since sintered parts have superior qualities such as corrosion and abrasion resistance, light weight, etc. Sintering is an important stage in powder metallurgy and is followed by various stages in order to obtain an end product.
The raw materials usually used for the process of sintering are metal powders of low grade alloy steels such as pure iron, Fe – Ni alloys, Fe – Si alloys, Fe – Co Alloys, 42CrMo4 steel, and 100Cr6 steel. Sintering is used on a large scale to manufacture complex components to be used in end use industries such as automotive, defense, and aerospace. Among the above stated low grade alloy steels, pure iron was used widely in sintering process in Europe in 2015 and is expected to be utilized at the same rate in the years to come.
The Europe sintering market is projected to reach US$11.09 bn by the end of 2024, from its valuation of US$8.35 bn in 2015. Considering this, the sintering market in Europe will exhibit a CAGR of 3.2% between 2016 and 2024.
Pyre Iron Sintering Material to Continue Witnessing High Demand through Forecast Period
By material, pure iron, Fe – Ni alloys, Fe – Si alloys, Fe – Co Alloys, 42CrMo4 steel, and 100Cr6 steel are the key market segments. Of these, pure iron material constituted the leading market share of 35.7% in 2015. The segment is expected to remain dominant through the course of the forecast period. Pure iron boasts wide industrial applications, especially with various materials to form base of alloy mixtures. Pure iron offers superior properties such as high corrosion resistance. It is therefore increasingly used across industries as a material for sintering.
Besides this, the demand for Fe—Ni alloys and Fe—Si alloys is forecast to increase during the forecast period. Their demand will spur on account of their superior characteristics such as higher permeability and high electric resistivity. Among the alloy steel considered low grade, the market for 100Cr6 steel may witness steep decline in its market share due to less application in industries.
Germany Emerges as Most Lucrative Sintering Market in Europe
In Europe, the U.K., Germany, Italy, France, and Spain have emerged as the most lucrative sintering markets. These nations, coupled with Rest of Europe, constitute the key segments in the Europe sintering market based on country. Of these, Germany held clear dominance in 2015 with a share of 24.4% in the Europe market. The presence of a large number of manufacturing units of automotive spare parts has fuelled the demand for sintering components in the nation.
The market has also witnessed remarkable growth in the U.K., in the last few years. The country boasts a sophisticated aerospace and automotive infrastructure, which has catapulted it as an attractive market for sintering in Europe. Besides these, the market players are expected to witness robust opportunities in various European nations through the course of the forecast period. Rest of Europe also held considerable share in the market in 2015 due to presence of major countries such as Sweden where there are various automotive industries situated. The sintering market in Europe is expected to grow at a moderate rate during the forecast period.
Some of the leading companies operating in the Europe sintering market are GKN plc, H.C.Starck GmbH, AMES, ASCO Sintering Co., Metaldyne Performance Group, LLC, Hitachi Ltd., etc.
Europe Sintering Market: Overview
Sintering is a manufacturing process in which metal alloys in powdered form are molded into unique and complex shapes by subjecting them to high temperatures just below the melting points of the metal alloys being used in the process. Sintering is an important stage in powder metallurgy and is followed by various stages in order to obtain an end product. Due to the superior qualities of sintered components such as abrasion and corrosion resistance and light weight, sintering is being preferred over other traditional methods for manufacturing components required for mechanical purposes.
Since last few years, sintering is being used for manufacturing important automotive and aerospace components such as transmission gears, axles, etc. which require complex shapes. Technological developments are being made to improve the quality of these sintered components so that they can be used in defense as well. This offers a major opportunity for the manufacturers of sintered components as well the suppliers of raw materials in the coming days. Within Europe, Germany held a major share and is expected to witness growth at a constant pace during the forecast period as well.
Sintering market in Europe is expected to grow at a steady pace in the future due to the wide range of applications in which sintered components are being used. Since the range of application is vast, the possibility of more players getting involved in sintering market is expected to be high. The market however may face obstruction in growth due to the imposition of various regulations by European countries to reduce the harmful effects caused to the environment due to the process of sintering.
Europe Sintering Market: Key Segments
The study provides a comprehensive view of the sintering market by dividing it into materials and geography segments. The material segment includes some types of low grade alloy steel such as pure iron, Fe – Ni Alloys, Fe – Si Alloys, Fe – Co Alloys, 42CrMo4 Steel, and 100Cr6 Steel. These segments have been analyzed based on historic, present, and future trends.
Country wise segmentation includes the current and forecast consumption of sintering in U.K., Germany, Italy, France, Spain, and Rest of Europe. Market segmentation includes demand for consumption in all the countries individually.
Europe Sintering Market: Scope of the Report
The report estimates and forecasts the Europe sintering market. The study provides forecast between 2016 and 2024 based on revenue (US$ Bn / US$ Mn) with 2015 as the base year. The report comprises an exhaustive value chain analysis for each of the segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the sintering market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the sintering market in Europe. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes substitute analysis of sintering and average price trend analysis of Europe.
The report includes Porter’s Five Forces Model to determine the degree of competition in the sintering market. The report comprises a qualitative write-up on market attractiveness analysis, wherein end-users and countries have been analyzed based on attractiveness for each country. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for sintered components between 2016 and 2024.
Europe Sintering Market: Research Methodology
Secondary research sources that were typically referred to include, but were not limited to, company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
Companies Mentioned in the Report
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include GKN plc, Hitachi Ltd., Sumitomo Corporation, H.C.Starck GmbH, Metaldyne Performance Group, LLC. and Others. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
The Europe Sintering market has been segmented as follows:
Sintering Market – Material Analysis
- Low Grade Alloy Steel
- Pure Iron
- Fe – Ni Alloys
- Fe – Si Alloys
- Fe – Co Alloys
- 42CrMo4 Steel
- 100Cr6 Steel
Sintering Market – Country Analysis
- Rest of Europe