Latest News- Sinter Plant Market: MHMG system is expected to lead the Product segment during 2024-2028

The Sinter Plant Market is being driven by Improvement in sinter technology

The Sinter Plant Market is expected to grow at a CAGR of 10.08% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1304.1 million. In the steelmaking industry, the BF-BOF method has gained popularity over the Electric Arc Furnace (EAF) process due to its lower energy intensity. The EAF method's high electric energy requirement makes it less economical for price-sensitive countries like China, India, and Russia, which prioritize meeting domestic consumer demand with their limited power generation capacity. However, recent advancements in power generation technologies have significantly improved electricity conversion factors, enabling an increase in power generation capacity and enhancing the efficiency of consumer devices. As a result, most steel-producing nations now have a surplus of electric power, making it feasible for these countries to consider the adoption of the EAF method for steel production. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • MHMG system
  • Sinter machine
  • WGR system
  • SCS system
• Type
  • Small scale sinter plant
  • Large scale sinter plant
• Geography
  • APAC
    • China
    • India
  • North America
    • US
  • Europe
    • Germany
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Improvement in sinter technology
• Large share of BF-BOF method in global steel output and new capacity additions
• Increasing focus on improving environmental footprints

However, the market also witnesses some limitations, which are as follows:

• Growing popularity of EAF route
• Increasing privatization of global steel industry
• Fluctuations in raw material prices of sinter plants

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Market Scope in Sinter Plant Market Research Report

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Research Analysis Overview

The Sinter Plant Market encompasses various systems such as MHMG and SCS, which facilitate the Sintering process of steel components. These systems utilize Metal powder, including Self-fluxing, Superflux, and Nonflux/Acid Sinters, to produce materials with specific Mechanical qualities. The resulting Sintered products find applications in diverse sectors like Consumer goods, Aerospace, and Automotive, particularly in Brake systems, where Lightweighting is a key factor. Material science and Sintering technology continue to evolve, with Powder Metallurgy and Additive Manufacturing (AM) playing significant roles. Stainless Steel, Carbon steel, Alloy steel, and Tool steel are commonly sintered, with Melting point and Affordability being crucial considerations. Sintered materials offer Strength and Accuracy, making them valuable in industries with high demands for precision. The market also caters to the needs of Electric vehicles, further expanding its scope.

Market Research Overview

The Sinter Plants Market is a significant segment of the larger Industrial Machinery and Supplies and Components Market. Key components of sinter plants include the MHMG System, SCS System, SINTER Machine, WGR System, and various types of sinters such as Nonflux/Acid Sinters, Self-fluxing Sinters, and Superflux Sinters. These components are integral to the metallurgical industry, facilitating the sintering process of steel components from metal powders. The market's growth is driven by expanding industrial output in process and discrete industries, particularly in developing countries, fueling demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages. Technavio projects the Industrial Machinery and Supplies and Components Market's growth, which encompasses manufacturers of machinery and components used in industrial settings, based on the combined revenue generated by these entities.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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Website: www.technavio.com/