South Korea Sintered Steel Market was valued at USD 0.6 Billion in 2022 and is projected to reach USD 1.1 Billion by 2030, growing at a CAGR of 7.6% from 2024 to 2030.
The South Korea sintered steel market has witnessed significant growth in recent years, driven by the increasing demand for high-performance materials in a variety of industries. Sintered steel, produced by compacting and heating metal powder, offers several advantages such as high strength, precision, and cost-effectiveness. These characteristics make it ideal for applications in automotive, industrial machinery, and electronics sectors, among others.
The automotive industry is one of the largest consumers of sintered steel in South Korea. Sintered steel components are used extensively in the production of engine parts, transmission systems, and other critical automotive components. This is due to the material's ability to withstand high temperatures and pressures, making it perfect for high-performance engines. Additionally, the automotive sector values sintered steel for its ability to produce complex parts with tight tolerances, resulting in improved efficiency and performance.
In industrial machinery, sintered steel is used for gears, bearings, and other high-wear components. The durability and reliability of sintered steel components ensure that machinery operates smoothly over extended periods, reducing the need for frequent replacements and maintenance. This contributes to cost savings and increased productivity in industries such as construction, manufacturing, and mining.
The electronics sector in South Korea is also a growing consumer of sintered steel. The material's high conductivity and resistance to corrosion make it suitable for the production of connectors, electrical contacts, and other components used in electronic devices. As the demand for advanced electronics continues to rise, sintered steel is expected to play an even more prominent role in meeting these needs.
As industries continue to demand materials that offer both performance and cost-effectiveness, sintered steel's market share in South Korea is expected to keep expanding. The material's versatility and ability to meet stringent requirements across various sectors make it a preferred choice for manufacturers seeking high-quality, durable components.
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Sumitomo Electric Industries
GKN PLC
Samvardhana Motherson
Hitachi Chemical
The Miba Group
ASCO Sintering
Sintercom India
AMES Sintering Metallic Components
Schunk Sinter Metals
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Sintered Steel Market
Iron-based alloys
Copper-based alloys
Nickel-based alloys
Stainless steel
Other specialty alloys
Parts and components
Tools and dies
Automotive components
Industrial equipment
Consumer goods
Automotive
Aerospace
Machine tools
Electronics
Construction equipment
Automotive industry
Aerospace industry
Manufacturing sector
Railway
Oil and gas industry
Standard shapes (such as discs, bars)
Custom designed parts
Complex geometries
Near-net-shape products
Preforms and blanks
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Sintered Steel Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Sintered Steel Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Sintered Steel Market, By Type
6. South Korea Sintered Steel Market, By Application
7. South Korea Sintered Steel Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Sintered Steel Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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