Global Iron Powder Market Size (2024 - 2029)

The iron powder market is anticipated to experience growth over the forecast period, driven by increasing demand from the automotive sector. Despite challenges posed by high production costs, the market has rebounded from the COVID-19 impact and is expected to expand steadily. The shift towards using powdered iron as a sustainable fuel presents additional opportunities for market expansion. The Asia-Pacific region leads in market consumption, with significant contributions from countries like China, India, and Japan.

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Market Size of Global Iron Powder Industry

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Iron Powder Market Summary
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

Iron Powder Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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 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
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
United Kingdom
France
Germany
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Global Iron Powder Market Size Summary

The global iron powder market is anticipated to experience steady growth over the forecast period, driven primarily by the increasing demand from the automotive industry. Despite the initial setbacks caused by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels and is poised for further expansion. The automotive sector's reliance on iron powder for various components, such as brake pads and clutches, is a significant factor contributing to this growth. However, the high cost of production remains a challenge that could impede market progress. The Asia-Pacific region, particularly countries like China, India, and Japan, dominates the market due to its robust automotive industry and rising vehicle demand, fueled by population growth and increased disposable income.

Iron powder's versatility extends beyond the automotive sector, with applications in manufacturing sintered parts and as a sustainable fuel alternative to industrial fossil fuels, presenting new market opportunities. The region's expanding electric vehicle market further boosts the demand for iron powders, as seen in the significant production increases in countries like China and the Philippines. The market is characterized by a consolidated structure, with key players such as Höganäs AB, Rio Tinto Metal Powders, and Kobe Steel, Ltd. actively contributing to its development. Recent advancements, such as the development of nickel-free powders by Höganäs, highlight ongoing innovations aimed at reducing costs and environmental impact, supporting the market's growth trajectory.

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Global Iron Powder Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Iron Powders from the Automotive Industry

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 High Cost of Production

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Reduced Iron Powder

      2. 2.1.2 Atomized Iron Powder

      3. 2.1.3 Electrolytic Iron Powder

    2. 2.2 End-User

      1. 2.2.1 Automotive

      2. 2.2.2 Chemical

      3. 2.2.3 General Industrial

      4. 2.2.4 Food

      5. 2.2.5 Other End-users

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 United Kingdom

        2. 2.3.3.2 France

        3. 2.3.3.3 Germany

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Global Iron Powder Market Size FAQs

The Global Iron Powder Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Rio Tinto Metal Powders, KOBE STEEL, LTD., JFE Steel Corporation, INDUSTRIAL METAL POWDERS (INDIA) PVT.LTD. and Höganäs AB are the major companies operating in the Global Iron Powder Market.

Iron Powder Market Report Snapshots

Iron Powder Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)