Iron Powder Market Research by Key players, Type and Application, Future Growth to 2032
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. The iron powder does play an important role with respect to recycling of the 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 finds its way as a filler in friction materials-oriented applications like automotive OEMs and aftermarket brake pads with clutches. They are used in the production of sintered parts; which cater to engines and transmissions.
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Competitive Analysis
Mimete S.r.l. (based out of Bi****ono, 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 about 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 power magnetic core to cater to axial gap motors. This core gets derived from die-pressing soft-magnetic iron powder into a 3D shape.
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
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.
