Market Snapshot:
The increasing demand for iron powder in food industry to be used in iron nutritional supplements and in the treatment of nutritional deficiencies will help to boost the global Iron Powder market. Iron powder is powdered iron metal. Iron powder is used in the manufacturing of sintered components, brazing, iron fortification, soft magnetic components, friction products, printing, surface coating, welding, brazing, chemistry, and polymer filtrations. Pure iron metal is very reactive chemically and rapidly corrodes, especially in moist air or at elevated temperatures.
Highlights from Iron Powder Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
CAGR | 4.0% |
The key Vendors profiled in the report are Höganäs AB (Sweden), Rio Tinto Metal Powders (Canada), KOBE STEEL, LTD. (Japan), JFE Steel Corporation (Japan), INDUSTRIAL METAL POWDERS (INDIA) PVT.LTD. (India), Kobelco (Japan), Pometon Powder (Italy), BaZhou HongSheng (China), Wuhan Iron&Steel Group (China) and Anshan Iron & Steel Group (China). Additionally, other players that are part of this comprehensive study are Ma Steel (United Kingdom) and Industrial Metal Powders (India).
Geographic Breakdown and Segment Analysis
The Europe Iron Powder market presents a comprehensive analysis of the Iron Powder market by product type (Reduced Iron Powder, Atomized Iron Powder and Electrolytic Iron Powder), by end-user/application (Powder Metallurgy, Electronics, Diamond Tools, Military and Food and Drug), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Europe Iron Powder industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the North America holds majority of market share of the Iron Powder market, the Europe has emerged as a crucial market for several Iron Powder brands.
Analyst at AMA have segmented the market study of Europe Iron Powder market by Type, Application and Region.
Influencing Trend:
The increasing adoption of iron powder in the automotive industry for the manufacture of parts with complicated geometry
Market Growth Drivers:
Increasing Demand for Food Enrichment and High demand for treatment of nutritional deficiencies
Challenges:
The increasing incidence of chronic diseases due to high consumption of iron-rich products among the general population
Restraints:
Impact of COVID-19 Outbreak
Opportunities:
The high healthcare expenditure by governments of countries and high disposable income in countries in the region and Growing demand from automotive industries
Market Developments Activities:
In August 2021, Ashland Global Holdings Inc. announced that its wholly-owned subsidiary, Ashland LLC, has signed a definitive agreement to sell its performance adhesives business to Arkema in an all-cash transaction valued at approximately USD 1.65 billion or 20 times LTM EBITDA1. The transaction is expected to close by the end of the calendar year 2021, subject to receipt of regulatory approvals and satisfaction with other customary closing conditions. and November 2020 - Mimete S.r.l., Biassono, Monza, Italy, released two iron base powders, Super-duplex F53 and Duplex MARS F51. The launch will cater to the demand from oil & gas, power generation, and aerospace industries for additive manufacturing applications.
In October 2020 - Sumitomo Electric Industries, Ltd., headquartered in Osaka, Japan, developed a power magnetic core for axial gap motors. The powder magnetic core is formed by die-pressing soft-magnetic iron powder into a three-dimensional shape. This has enabled the company to fulfill the recent growth in demand for lightweight and high-performance motors.
Regulatory Insights:
Food safety regulator FSSAI has raised the upper limit for iron particles in tea powder to 250 mg per kg from the existing 150 mg, with effect from the current month. Iron fillings enter tea due to the wear and tear of the processing machinery. The continuous presence of iron filings in tea has raised safety concerns and there have been many demands to fix an upper limit. In a circular, the Food Safety and Standards Authority of India (FSSAI) said: "The revised limit of iron filings in the tea up to the level of 250 mg per kg has been approved by the Scientific Committee."
The market studied is consolidated in nature. The key market players are adopting various strategies such as product launch and product innovation, to expand their existing product portfolio and maintain competitiveness in the rapidly growing AI marketspace.
Key Target Audience
Iron Powder Manufacturer, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others