Iron Powder Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Iron Powder Market Analysis
The global iron powder market is projected to register a CAGR of more than 4% during the forecast period.
- COVID-19 negatively impacted the market in 2020. However, the market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.
- The increasing demand for iron powders from the automotive industry is expected to drive the market during the forecast period. On the other hand, the high cost of production is expected to hinder the market's growth.
- The rising popularity of powdered iron as a sustainable fuel to replace industrial fossil fuels is expected to act as a market opportunity. The Asia-Pacific region dominates the global market, with the largest consumption from countries such as China, India, and Japan.
Iron Powder Market Trends
This section covers the major market trends shaping the Iron Powder Market according to our research experts:
High Demand from Automotive Segment
- Iron powder is formed from various iron particles. The particle size of iron powder varies from 20-200 micrometers. Iron powder is commercially available in three types - reduced iron powder, atomized powder, and electrolyte iron powder. Iron powder serves automobile parts majorly. Iron powder is used as a filler in friction materials in automotive original equipment manufacturers (OEMs) and aftermarket brake pads and clutches.
- They are also extensively used in manufacturing sintered parts, which are common in transmission and engine applications. The expansion of the automotive segment in China is anticipated to benefit the demand for iron powders. According to the International Organization of Motor Vehicle Manufacturers (French: Organisation Internationale des Constructeurs d'Automobiles) (OICA), China is the largest producer of automobiles. The country alone produced 2,60,82,220 units of vehicles in 2021.
- Also, India witnessed a significant increase in the sales of passenger vehicles and commercial vehicles. For instance, the domestic sales of passenger vehicles were 3,069,499 for 2021-2022, representing an increase of 13% compared to 2020-21.
- Furthermore, the country witnessed a significant increase in the production of passenger vehicles. For instance, according to the latest data published by the Society of Indian Automobile Manufacturers (SIAM), the production of passenger vehicles reached 3,650,698 for 2021-2022, representing an increase of 19% compared to 2020-21.
- Thus, with expanding automotive industry, the demand for iron powders subsequently increases during the forecast period.
Asia-Pacific to Dominate the Iron Powder Market
- Asia-Pacific accounted for the largest iron powder market in the past few years. The growing automotive industry in various countries in the Asia-Pacific region is driving the market studied. Rapid population expansion and increased disposable income are two major reasons driving up demand for vehicles in the region.
- Powdered iron is used in the automotive industry to manufacture a variety of parts and components, including bearings, gears, camshaft pulleys, and crankshaft sprockets. Additionally, the fabrication of structural parts employs powdered iron for cutting, welding, and other tasks.
- According to the China Association of Automobile Manufacturing (CAAM), the country's production of new electric vehicles (NEVs) witnessed a year-on-year increase of 96.9 percent in December 2022. Thus, the expanding electric vehicle market is expected to increase the demand for iron powders.
- Furthermore, in countries such as Malaysia, the Philippines, and others, the production of motorcycles and scooters increased significantly. For instance, the Philippines produced 867,453 motorcycles and scooters in 2021, up 32% compared to 2020. As a result, it positively boosts the market growth.
- Hence, with the expanding automotive, metallurgy, and several other industries in the region, the demand for powdered iron is expected to increase significantly.
Iron Powder Industry Overview
The global iron powder market is consolidated in nature. Some of the major players in the market include H枚gan盲s AB, Rio Tinto Metal Powders, Kobe Steel, Ltd., JFE Steel Corporation, and Industrial Metal Powders (India) Pvt.Ltd., among others.
Iron Powder Market Leaders
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Rio Tinto Metal Powders
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KOBE STEEL, LTD.
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JFE Steel Corporation
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INDUSTRIAL METAL POWDERS (INDIA) PVT.LTD.
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H枚gan盲s AB
*Disclaimer: Major Players sorted in no particular order
Iron Powder Market News
- January 2023: JFE Steel completed the acquisition of the ISO 45001 certification, an international standard for occupational health and safety management systems, for all of its Japan operations.
- January 2023: H枚gan盲s developed nickel-free powders for component production. The new nickel-free powder can potentially reduce price and the harmful environmental impact.
Iron Powder Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand for Iron Powders from the Automotive Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 High Cost of Production
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Type
5.1.1 Reduced Iron Powder
5.1.2 Atomized Iron Powder
5.1.3 Electrolytic Iron Powder
5.2 End-User
5.2.1 Automotive
5.2.2 Chemical
5.2.3 General Industrial
5.2.4 Food
5.2.5 Other End-users
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 United Kingdom
5.3.3.2 France
5.3.3.3 Germany
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 American Elements
6.4.2 Ashland
6.4.3 ATI
6.4.4 BASF SE
6.4.5 Belmont Metals
6.4.6 CNPC POWDER
6.4.7 Hoganas AB
6.4.8 INDUSTRIAL METAL POWDERS (INDIA) PVT.LTD.
6.4.9 JFE Steel Corporation
6.4.10 KOBE STEEL, LTD.
6.4.11 Laiwu Iron & Steel Group Lunan Mining Co Ltd
6.4.12 Pometon Powder
6.4.13 Rio Tinto Metal Powders
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Popularity of Powdered Iron as a Sustainable Fuel to Replace Industrial Fossil Fuels
Iron Powder Industry Segmentation
Iron powder is a finely divided type of iron with particle sizes ranging from 20 to 200 um. Iron powder is used in various industrial applications, including automotive, food, packaging, and coating. Iron powder is manufactured in the industry using a solid reduction, atomized, and electrolytic technique.
The global iron powder market is segmented by type, end-user, and geography. By type, the market is segmented into reduced iron powder, atomized iron powder, and electrolytic iron powder. By end-user, the market is segmented into automotive, chemical, general industrial, food, and other end-users. The report also covers the market size and forecasts for iron powder in 15 countries across major regions.
For each segment, the market sizing and forecasts have been done based on revenue (USD million).
| Type | |
| Reduced Iron Powder | |
| Atomized Iron Powder | |
| Electrolytic Iron Powder |
| End-User | |
| Automotive | |
| Chemical | |
| General Industrial | |
| Food | |
| Other End-users |
| Geography | |||||||
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Iron Powder Market Research FAQs
What is the current Global Iron Powder Market size?
The Global Iron Powder Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Global Iron Powder Market?
Rio Tinto Metal Powders, KOBE STEEL, LTD., JFE Steel Corporation, INDUSTRIAL METAL POWDERS (INDIA) PVT.LTD. and H枚gan盲s AB are the major companies operating in the Global Iron Powder Market.
Which is the fastest growing region in Global Iron Powder Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Iron Powder Market?
In 2024, the Asia Pacific accounts for the largest market share in Global Iron Powder Market.
What years does this Global Iron Powder Market cover?
The report covers the Global Iron Powder Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Iron Powder Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Iron Powder Industry Report
Statistics for the 2024 Iron Powder market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Iron Powder analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
