The global iron powder market stood at US$ 6.18 Billion in the year 2022 and is expected to reach US$ 10.26 Billion by the year 2032 at a CAGR of 5.2% between 2022 and 2032.
Iron powder’s particle size does vary from 20 to 200 micrometers. The powder is available at the commercial level in 3 kinds – atomized powder, reduced iron powder, and electrolyte iron powder. Electrolyte iron powder holds the largest market share due to stability, purity, and monetary advantage. It’s actually at par with traditional iron salts as well as chelates used for the fortification of food and water.
The other applications include soft magnets and welding in electromagnetics, wherein both – DC and ac are addressed. Iron powder does play an important role with respect to the recycling of industrial chemicals. As such, it is used in pharmaceutical and steel plants. Intake of iron is prescribed for those who are anemic. Regular intake of iron also helps in boosting immunity.
Particle metallurgy alone accounts for the majority of revenue, especially in the automobile sector. Iron powder is a filler in friction materials-oriented applications like automotive OEMs and aftermarket brake pads with clutches. They are used to produce sintered parts; which cater to engines and transmissions.
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At the same time, the fact that excessive consumption of iron powder is associated with chronic diseases can’t be ignored. An out-of-proportion consumption could result in diarrhea, vomiting, stomach pain, or nausea. It has also been found that iron does accumulate in organs; thereby resulting in fatal damage to the liver and brain. These factors could restrain the iron powder market in the near future.
Future Market Insights has entailed these facts with future prospects in its latest market study entitled ‘Iron Powder Market’. Its team of analysts and consultants has a bottom-up approach with a 360-degree view regarding primary, secondary, and tertiary modes of research.
“With iron powder being increasingly used for separation and filtration of industrial appliances, in air purifiers, deodorizers, and likewise, the global iron powder market is likely to grow at a remarkable rate in the near future”, says an analyst from Future Market Insights.
Key Takeaways from Iron Powder Market
- Europe and North America are at the matured stage of the iron powder market.
- The Asia-Pacific is expected to witness growth at a rapid pace in the iron powder market in the near future. This could be credited to China being the major producer of iron powder. Japan and India follow suit. The application areas include automobiles and the food industry.
Competitive Analysis
- Mimete S.r.l. (based out of Biassono, Monza, Italy), in November 2020, did release two iron base powders – Duplex MARS F51 and Super-Duplex F53. These powders would be addressing demands from power generation, oil & gas, and aerospace verticals with regard to additive manufacturing. Manufacturers like Mercedes-Benz, Porsche, and Volkswagen do produce components and parts by making use of additive manufacturing technology. These measures are expected to keep the hopes high for the iron powder market in the forecast period.
- Sumitomo Electric Industries Ltd., in October 2020, did develop a powerful magnetic core to cater to axial gap motors. This core gets derived from die-pressing soft-magnetic iron powder into a 3D shape.
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KEY SEGMENTS
End Use:
- Aerospace & defence
- Automotive
- Oil & Gas
- Medical
- Others
Type:
- Unalloyed
- Alloyed
- Insulated Iron powder
Manufacturing Process:
- Physical
- Atomization
- Electro deposition
- Chemical
- Reduction
- Decomposition
- Mechanical
- Pulverization
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What does the Report scale through?
- The research study is based on end-use (aerospace & defense, automotive, oil & gas, medical, and others), by type (unalloyed, alloyed, and insulated iron powder), by manufacturing process (physical (atomization and electrodeposition), chemical (reduction and decomposition), and mechanical (pulverization)).
- With rising demand for automobiles, the global iron powder market is expected to grow on an accelerated note going forward.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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