The iron powder market is likely to register a CAGR of 5.2% during the forecast period and is anticipated to reach an iron powder market share of USD 10265.75 Million in 2032, from USD 6183.49 Million in 2022.
The primary factors driving iron powder market growths are rising disposable income and increasing demand for automobiles. The increasing production of automobiles in countries such as China, Japan, and India is expected to boost demand for iron powder-based parts and components.
The growing adoption of iron powder and additive manufacturing in the automotive industry is expected to accelerate iron powder market growth.
Powdered iron is expected to have a positive impact on the iron powder market as an alternative fuel.
The rising incidence of chronic illness caused by excessive consumption of iron-rich supplements, on the other hand, is likely to act as an iron powder market key trend and opportunities restraint.
| Attributes | Details |
|---|---|
| Iron Powder Market (CAGR) | 5.2% |
| Iron Powder Market (2022) | USD 6183.49 Million |
| Iron Powder Market (2027) | USD 7967.32 Million |
The pandemic imposed a ban on man and material transportation, causing production facilities and supply chains to come to a halt in the iron powder market. As a result, automakers were unable to obtain raw materials for the production of their products.
The pandemic has disrupted vehicle production in Europe, as well as exports of automotive parts and components from China, and has resulted in the closure of assembly lines in the USA.
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Vehicle production has increased significantly around the world, which is expected to drive demand for iron powder over the forecast period. Iron powder is used in the automotive industry for powder metallurgy applications, which include automotive parts, gears, bearings, and sintered components, among others that influence the iron powder market's future trends.
In recent years, the additive manufacturing and Metal Injection Molding (MIM) processes have gained traction in a number of end-use industries, resulting in increased demand for iron powder around the world.
Stringent government norms are expected to propel the iron powder market along with iron powder market adoption trends over the forecast period, owing to the growing demand for iron powder for protective powder coating applications.
There is high demand for iron powder in the food industry for iron nutritional supplements and for treating iron nutritional deficiencies. Higher consumption of iron-rich supplements, on the other hand, has been linked to an increased risk of chronic diseases to escalate iron powder market adoption trends.
Excessive iron consumption can have negative consequences for the digestive system. Vomiting, diarrhea, nausea, and stomach pain are all symptoms of excessive iron intake. Iron builds up in the organs over time, causing fatal damage to the brain and liver. The reasons stated above are likely to act as an iron powder market restraining factor.
Principal Consultant
East Asia, particularly China, and Japan, dominate the iron powder market in terms of demand. Furthermore, this is primarily due to rising automotive production and aircraft fleets in the region, which drives demand for iron powder as well as iron powder market key trends and opportunities.
Over the forecast period, the East Asian iron powder market is expected to grow at a healthy rate. Furthermore, MIM and powder metallurgy applications are gaining traction in North America and Europe, resulting in increased demand for iron powder over the forecast period.
In terms of consumption, the iron powder market in North America and Europe is expected to grow steadily over the forecast period and boost the iron powder market's future trends.
Major players are acquiring stakes in small companies with a competitive advantage, such as advanced technology, efficient processes, and a presence in the regional market, in the iron powder market, which is characterized by increased merger and acquisition (M&A) activities for the iron powder market trends and forecast.
Another important aspect of increasing these activities across the iron powder market is to encourage innovation, lower costs, and increase operational synergies. Mature industrial companies are dominating merger and acquisition activity, focusing on gaining a competitive edge in additive manufacturing technology beyond their patent portfolios and Research and Development.
Recent Developments:
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Region, End Use, Type, Manufacturing Process |
| Regions Covered |
North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East and Africa |
| Key Countries Profiled |
USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled |
JFE Steel Corporation (Japan); Höganäs AB (Sweden); Reade International Corporation (USA); Industrial Metal Powders (India) Pvt. Ltd. (India); American Elements (USA); ATI (USA); Ashland (USA); BASF (Germany); CNPC Powder (China); Rio Tinto Metal Powders (United Kingdom); Other Players |
| Customization | Available Upon Request |
The iron powder market is anticipated to register a CAGR of 5.2% during the forecast period.
The iron powder market share is anticipated to reach USD 9275.97 Million by 2030.
Demand for iron powder is likely to rise, as the growth is likely to be fuelled by a surge from the automotive industry.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use 5.1. Aerospace & Defense 5.2. Automotive 5.3. Oil & Gas 5.4. Medical 5.5. Others 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 6.1. Unalloyed 6.2. Alloyed 6.3. Insulated Iron Powder 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Manufacturing Process 7.1. Physical 7.2. Atomization 7.3. Electro Deposition 7.4. Chemical 7.5. Reduction 7.6. Decomposition 7.7. Mechanical 7.8. Pulverization 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia & Pacific 8.6. Middle East and Africa 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. BASF SE 17.2. Sandvik AB 17.3. Rio Tinto plc 17.4. ATI Powder Metals 17.5. CNPC Powder Metals 17.6. Hoganas AB 17.7. CNPC POWDER GROUP CO., LTD 18. Assumptions & Acronyms Used 19. Research Methodology
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Iron Powder Market
