Global Iron Powder Market Report and Forecast 2024-2032

Global Iron Powder Market Outlook

The global iron powder market size is expected to grow at a CAGR of 5.40% between 2024 and 2032. The market is being driven by increasing applications of iron powder across various end user sectors such as automotive and chemical.

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Key Trends in the Market

Iron powder refers to a form of the iron element which has gone through a powdering process. Iron powder can be manufactured in multitude of grades which can be differentiated based on purity, and density, among other parameters. Different grades and varieties of iron powder are suited for varying applications such as friction materials, sintered parts, and soft magnetic composites. 

• Iron powder is an extremely versatile material which is used across various sectors such as general industrial, chemical, and food. The exponential growth of these sectors in emerging economies is driving the growth of the iron powder market.

• The increasing popularity of sustainable fuel options is boosting the demand for iron powder as combustion of iron powder produces high energy and can undergo oxidation without emitting carbon. Stringent regulations of various governments aimed towards minimising carbon footprints in the industrial sector is further escalating the adoption of iron powder as an alternative fuel source in various applications.

• The burgeoning automotive sector, driven by growing expansion of luxury car brands and inflating disposable income of the working population, is increasing the application of iron powder to produce critical automobile components.

• Innovations in powder metallurgy techniques are crucial trends in the iron powder market. Moreover, innovations being carried out in the industrial sector, such as the development of multipurpose metal tunnel furnace, are expected to offer lucrative opportunities for the growth of the market for iron powders.

Market Analysis

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Based on type, the market is segmented into reduced, atomised, and electrolytic. On the basis of end user, the market is classified into automotive, chemical, general industrial, and food, among others. The regional markets for iron powder are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.  

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global iron powder market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• JFE Steel Corporation

• Reade International Corp.

• Hoganas AB

• BASF SE

• Kobe Steel Ltd.

• Rio Tinto Metal Powders

• Pometon S.p.A

• Sagwell USA Inc.

• Industrial Metal Powders (India) Pvt. Ltd.

• Others

Market Share by Type

Reduced type of iron powders account for a sizable share of the iron powder market as they have diverse applications in powder metallurgy, production of welding materials, and for soil decontamination, among other applications. Downstream heating products that utilise reduced iron powder, such as disposable heating pads, are witnessing a heightened demand across households, particularly in regions that face extensive cold weather. Over the forecast period, the anticipated increase in growth of mining, military, and wastewater management sector is likely to propel the demand of reduced iron powder to decontaminate soil. 

Market Share by End User

Based on end user, the automotive segment accounts for a significant share in the iron powder market. This can be attributed to the common placement of iron powder in various automotive components such as braking pads, drum brake lining, and various sintered components. In addition, the growing research and development activities aimed towards opening new possibilities to produce creative and affordable automotive design solutions are fuelling the segment’s growth. Over the forecast period, the anticipated increase in demand for passenger and commercial automobiles is likely to add to the market growth.  

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Competitive Landscape

JFE Steel Corporation is a leading steel manufacturer which is a subsidiary of JFE Holdings. The product portfolio of this company includes sheets, plates, pipes and tubes, electrical sheets, steel bars and wire rods, iron powders, and titanium, among others. It was founded in 2003 and is headquartered in Tokyo in Japan.

Reade International Corp. is a chemical manufacturing company, the product portfolio of which includes abrasives, powders, absorbent materials, alloys, metals, aluminide compounds, amendments, arsenide compounds, binders, carbon, filler materials, and coated and ceramic powders, among others. Reade International Corp. was founded in 1983 and is headquartered in Rhode Island, United States.

Hoganas AB is a powder metallurgy company which is one of the largest producers of powdered materials. The metal powders manufactured by this company are widely utilised in areas such as additive manufacturing, brazing, pressing and sintering, and surface coating, among others. The company was founded in the year 1797 and is headquartered in Hoganas, Sweden.

Other market players include BASF SE, Kobe Steel Ltd., Rio Tinto Metal Powders, Pometon S.p.A, Sagwell USA Inc., and Industrial Metal Powders (India) Pvt. Ltd., among others.

Key Highlights of the Report