The iron powder market is predicted to grow at a CAGR of 5.2 % over the course of the forecast period, from US$ 6183.49 million in 2022 to US$ 10265.75 million in 2032. Iron powder is a particle form of iron with a particle size, varying from 20-200 μm. In industry, Iron powder are produced through solid reduced, atomized and electrolytic process.
However, the selection of the manufacturing process is depend upon particle size and uniformity in the production process. Moreover, Iron powder is also referred as zero valent iron (ZVI) powders. Iron powder finds usage in several industrial applications such as automotive, food, packaging, and coating, among others.
For instance, in food industry, the Iron powder is used to maintain the nutritional value of the food i.e. for food fortification which help to evade iron deficiency.
Also, Iron powder as an additive mainly used in paint & coating industry to impart properties such as luster and shine, among others. Moreover, demand for iron powder is prevalent in 3D- Printing technology application which is expected to gain significant traction in the healthcare and automotive sector.
Major application of iron powder is in automotive industry for manufacturing of automotive parts, friction materials for breaks pads, break lining to name a few. Iron powder is also an important part of food packaging industry for water purification, manufacturing of ferrous and Ferric salts, among others.
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Iron Powder Market: Key participants
Examples of some of the market participants operating in the global Iron Powder market are:
- BASF SE
- Sandvik AB
- Rio Tinto plc
- ATI powder metals
- CNPC Powder metals
- Hoganas AB
- Yingtan Longding New Materials & Technology Co., Ltd.
- CNPC POWDER GROUP CO., LTD
Key Segments- Iron Powder Market
- Aerospace & defence
- Oil & Gas
- Insulated Iron powder
- Electro deposition
Iron Powder Market: Regional Outlook
In terms of the demand, the global iron powder market is dominated by East Asia, especially by China, and Japan. Moreover, this is mainly attributed to increasing automotive production and aircraft fleet in region which in turn drive demand for iron powder market.
The East Asia iron powder market is expected to register healthy CAGR over the forecast period. Moreover, in North America, and Europe, the MIM and powder metallurgy application are gaining traction owing to which demand for iron powder is expected to increase over the forecast period.
In terms of consumption, the North America and Europe iron powder market is expected to register steady growth over the forecast period. Moreover, Latin America and MEA Iron powder market are expected to register healthy growth over the forecast period
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