Global Iron Powder Market: Iron powder is powdered iron metal. Iron powder is used in manufacturing of sintered components, soft magnetic components, brazing, iron fortification, 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.
Rising demand for iron powder in food industry to be used in iron nutritional supplements and in treatment of nutritional deficiencies are key factors driving growth of the global iron powder market. In addition, increasing adoption of iron powder in automotive industry for manufacture of parts with complicated geometry is a major factor expected to fuel growth of the global iron powder market over the forecast period.
However, increasing incidence of chronic diseases due to high consumption of iron rich products among general population is a key factor restraining growth of the global iron powder market. Additionally, natural oxidation of iron powder is expected to hamper growth of the global iron powder market over the forecast period.
The global iron powder market report has been segmented on the basis of product type, purity, end user, and region. On the basis of region, the global iron powder market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America accounted for highest revenue share in the global iron powder market, owing to rising demand for iron powder from prominent market players in the automotive industry. The market in Europe is expected to witness moderate growth owing to high healthcare expenditure by governments of countries, and high disposable income in countries in the region. The market in Asia Pacific is projected to have fastest growth in terms of revenue, owing to increasing adoption of iron powder from various end use industries, and increasing incidence of malnutrition cases in emerging economies in the region.
Key players of the global iron powder market include Höganäs, Rio Tinto Metal Powders, Laiwu Iron & Steel Group, KOBELCO CONSTRUCTION EQUIPMENT INDIA PVT. LTD., Jiande Yitong Metal Powder Co.,Ltd, JFE Steel Corporation., Pometon Powder, BaZhou HongSheng, Wuhan Iron & Steel Group Corp., Anshan Iron & Steel Group Corp., and Masteel UK Limited.