NEW YORK , June 18, 2024 /PRNewswire/ -- The global sinter plant market size is estimated to grow by USD 1.30 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 10.08%  during the forecast period. Improvement in sinter technology is driving market growth, with a trend towards improving power supply infrastructure. However, growing popularity of eaf route  poses a challenge. Key market players include China BaoWu Steel Group Corp. Ltd., China Metallurgical Engineering and Project Corp., China Minmetals Corp., CTCI Corp., General Electric Co., Gillanders Arbuthnot and Co. Ltd., Hitachi Ltd., IMASA INGENIERIA Y PROYECTOS SA, Kanikavan Shargh Engineering Co., Larsen and Toubro Ltd., McNally Bharat Engineering Co. Ltd., MECON Ltd., Metso Outotec Corp., Nippon Steel Corp., Perantech GmbH, Primetals Technologies Ltd., Shandong Province Metallurgical Engineering Co. Ltd., Shandong Qingneng Power Co. Ltd., Siemens AG, and Simplex Engineering and Foundry Works Pvt. Ltd..

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Market Driver

The BF-BOF method for steelmaking is traditionally preferred due to its lower energy requirements compared to the EAF process. However, recent advancements in power generation technologies and increased power capacity have led to a surplus of electricity in price-sensitive countries like China, India, and Russia. This surplus electricity, coupled with the increasing share of renewable energy in the global electricity mix, may make the EAF route of steelmaking more cost-effective. This trend could potentially boost the growth of the sinter plant market during the forecast period. 

The Drive Train, Electrical, and Mechanical components, Consumables, and Services sectors are currently trending in the Sinter Plant market. Urbanization and the need for increased production capacity are key factors driving the demand for these components. Powdered materials and propulsion systems are also in high demand. The use of advanced technologies like CNC machines and automation systems is increasing to improve efficiency and productivity. The market for sinter plants is expected to grow steadily in the coming years due to the increasing demand for steel and the need for cost-effective production methods. The market for sinter plants is also witnessing a shift towards the use of cleaner technologies to reduce emissions and improve sustainability. The market for sinter plant components and services is expected to grow significantly in the coming years due to these trends. 

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Market Challenges

• The global steel industry relies heavily on pig iron, produced through blast furnaces, for steel production. However, the high capital expenditure and frequent shutdowns of blast furnaces lead to significant production losses and costs. In contrast, the Electric Arc Furnace (EAF) method, which uses scrap steel or sponge iron as primary burden material, is gaining popularity due to its lower capital investment requirements. Developing countries, particularly Iran, are increasing their EAF-dominated steelmaking capacity. Supply-side factors, such as the availability of natural gas and LNG, also favor the EAF method. These trends may impact the sinter plant market, potentially reducing its growth during the forecast period.
• The Sinter Plant Market faces several challenges in the current technological landscape. The use of outdated technology and high energy consumption are major concerns. The need for automation and digitization is increasing to improve efficiency and reduce costs. Additionally, stringent environmental regulations require sinter plants to adopt cleaner production methods. The high capital investment required for modernization and the shortage of skilled labor pose further challenges. To remain competitive, sinter plant operators must focus on innovation, sustainability, and cost optimization. The adoption of advanced technologies like AI and IoT can help address these challenges and improve overall plant performance.

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Segment Overview 

This sinter plant market report extensively covers market segmentation by  

1. Product 
   • 1.1 MHMG system
   • 1.2 Sinter machine
   • 1.3 WGR system
   • 1.4 SCS system
2. Type 
   • 2.1 Small scale sinter plant
   • 2.2 Large scale sinter plant
3. Geography 
   • 3.1 APAC
   • 3.2 North America
   • 3.3 Europe
   • 3.4 Middle East and Africa
   • 3.5 South America

1.1 MHMG system-  The sinter plant market's fastest-growing segment is material handling, mixing, and granulation (MHMG). This growth is due to the declining high-grade iron ore supply and the need to enhance blast furnace energy efficiency. Advanced sinter plants producing high-quality sinter from low-grade iron ore fines are in demand. Vendors provide solutions, such as proportioning bins, to eliminate stockyard mixing. India, China, and African countries plan to build new or upgrade existing sinter plants for capacity expansion and environmental compliance. These factors are driving the MHMG segment's growth in the global sinter plant market.

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Research Analysis

The Sinter Plant Market encompasses the production and application of various sintering systems, including the MHMG System, SCS System, and WGR System, in the manufacturing process of steel components. These systems utilize metal powder, such as Nonflux / Acid Sinters, Self-fluxing Sinters, and Superflux Sinters, to produce sintered materials with desirable mechanical qualities. The sintering process is essential in the production of consumer goods, aerospace components, and automotive parts, such as brake systems. The market for sinter plants is driven by the demand for lightweighting and improved material science in various industries, including stainless steel, carbon steel, alloy steel, and tool steel. Powder Metallurgy and Additive Manufacturing (AM) are also significant technologies influencing the sinter plant market, particularly in the production of electric vehicles. The melting point and affordability of sintered materials are crucial factors in the market's growth.

Market Research Overview

The Sinter Plant Market encompasses the production and supply of sinter plants, a crucial part of the iron and steel industry. These plants agglomerate iron ore fines into larger lumps, facilitating their transportation and use in blast furnaces. The market is driven by the increasing demand for iron and steel, particularly in sectors like construction, automotive, and infrastructure. Technological advancements, such as the integration of automation and digitalization, are also influencing the market. Additionally, the growing trend towards sustainable production methods is leading to the development of energy-efficient sinter plants. The market is segmented based on plant capacity, end-use industry, and geography. The Asia Pacific region dominates the market due to the high demand for iron and steel in countries like China and India.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• • MHMG System
  • Sinter Machine
  • WGR System
  • SCS System
• Type
• • Small Scale Sinter Plant
  • Large Scale Sinter Plant
• Geography
• • APAC
  • North America
  • Europe
  • Middle East And Africa
  • South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio