According to a new research report by Transparency market Research (TMR), the global market for sintering processes is expected to gain a substantial impetus in the forthcoming years. The study, titled “Sintering Process Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014–2020,” further states that the phenomenal expansion in the powder metallurgy industry across the world is the key factor driving the growth of this market.
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Although the growth prospects of the global market for sintering processes looks flourishing, the growing concerns over the perilous effect caused by these processes are likely to impede the growth rate over the next few years. However, technological advancements in the field of sintering are expected to expand its application base to a number of end-use industries, notes the study.
On the geographical front, Asia Pacific, North America, Europe, and the Rest of the World have been recognized as the predominant segments of the worldwide market for sintering processes. Asia Pacific, among these, has acquired the leading position in the global market due to the substantial rise in the construction and automotive industries. The upswing in the demand for sintering from China, India, and Indonesia is likely to drive this regional market further to great extents in the near future, states the research report.
On the other hand, Europe and North America are projected to witness a steep decline in their respective markets for sintering processes, owing to the stringent norms and policies put forth by the governments in order to control the harm caused by sintering processes to the environment through various hazardous emissions. In addition to this, the swift industrial, as well as technological, developments are projected to offer lucrative opportunities for the growth of the market for sintering processes in this region over the next few years, reports the study.
The competitive landscape of the global market for sintering processes has also been evaluated in this research report. With only two leading players, namely, Pacific Sintered Metals and GKN Sinter Metals, this market demonstrates a highly consolidated landscape, finds the report.
Researchers have reviewed the profiles of the leading market players thoroughly and have also studied the historical performance and the future prospects of each of the participants in order to identify the existing hierarchy in this market. For sustenance, the key companies operating in this market mostly rely on innovation and advancements in technologies. However, their focus has begun to shift towards partnerships, mergers, and acquisitions for business expansion across geographies.
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