Carbonyl Iron Powder Market Research Report: Information By Application (Inductive Electronic components, Microwaves and Radar Absorption, Nutritional Supplements, Metal Powder Injection Molding, Others), By Region (North America, Europe, Asia Pacific, Latin America) Forecast till 2028

Carbonyl Iron Powder Market Overview

The Carbonyl Iron Powder Market is anticipated to register a healthy CAGR of over 3.80% to reach a value of around USD 274 Million by the end of the forecast period, 2021-2028.

Carbonyl iron powderis a dark greyish colored powder consisting of fine and pure iron particles with unique morphological properties such as excellent absorption of radar and microwaves, high purity, and outstanding magnetization characteristics.

This material is produced by thermal decomposition of iron pentacarbonyl (Fe(CO)5), which is previously distilled to high purityand results in a wide range of hard & soft, coated & uncoated varieties of carbonyl iron powder, which are used in several industries such as aerospace & defense industry, electronics, and medical. Carbonyl iron powder is used in various applications, including metal injection molding, diamond tools, radar absorption, powder metallurgy, electrical components, and metallic inks.

The increasing demand for carbonyl iron powder in the electronics industry for electromagnet cores and inductive electronic components gives a positive push to the market. Carbonyl iron powder is used in electromagnetic cores with a high-frequency coil that helps maintain the voltage in tablets, personal computers, smartphones, sensitive digital electronic devices, and others. Applications of carbonyl iron powder in various applications such as fabrication of diamond tools, metal injection molding, powder metallurgy, radar absorption, and metallic inks areother key factors that are expected to fuel the Carbonyl Iron Powder Market.

Furthermore, a wide range of applications such as microwave absorption and EMI (electromagnetic interference) shielding in the aerospace industry is expected to further drive the growth of the Carbonyl Iron Powder Market in the upcoming future.

Besides this, carbonyl iron powder has great sintering qualities, good flowability, outstanding strength, and good surface texture, and it plays a critical role in metal injection molding technology. Particle size distribution is also one of the essential properties in metal injection molding, which determinesthe sinterability and surface quality of the product. The technique involves the mixing of carbonyl iron powder with a binder material to generate a feedstock. Metal injection molding with carbonyl iron powder has the inherent goal of achieving high volume manufacturing in a single step with cutting-edge accuracy. Thus, metal injection molding is a market-leading trend. This trend is projected to be imprinted in the market over the foreseeable period.

Carbonyl iron powder is used in nutritional supplements to treat iron deficiency. However, the overdose of carbonyl iron powder in the dietresults in constipation, nausea,diarrhea, stomach pain, tooth discoloration, vomiting, or even dark-colored bowel movement. The adverse health effects of the highconsumption of carbonyl iron powder are expected to hamper the market growth during the forecast period.

Regulatory Framework

Various ASTM (American Society for Testing and Materials) testing standards have been framed to produce and test high purity and ultra-high purity (up to 99.99999%) forms of materials. These forms are available in a wide range of grades, including Mil Spec (military grade), ACS, reagent and technical grade, food, agricultural and pharmaceutical grade, optical grade, USP, and EP/BP (European Pharmacopoeia/British Pharmacopoeia). Carbonyl iron powder is also a high purity grade of iron powder consisting of a purity range of 98% to 99.5%.

EINECS (European Inventory of Existing Commercial Chemical Substances) and OSHA (Occupational Safety and Health Administration) Hazard communication standards are some of the regulations that guide manufacturers in carbonyl iron powder production and testing.

Impact of Coronavirus Outbreak

Owing to the COVID-19 pandemic in 2020, the world has faced unforeseen problems and uncertainties, and the metal industry was no exception. Several nations such as India, Japan, South Korea, Vietnam, and othersare strugglingto achieve a balance between the impact of COVID-19 and the opening of their economies, while the manufacturing companiesacross the globe are facing an extended period of uncertainty. Also, certainindustries and companies have been adversely impacted, while others haveexperienced amoderate impact. During the pandemic, some industries even flourished.

The pandemic has had a detrimental impact on the metals industry because many end-use industries such asaerospace, electronics, and heavy equipment industries havewitnessed adecreasein demand. This has negatively impacted the Carbonyl Iron Powder Market. However, with the uplifting of bans and restrictions, the market will likely bounce back to normal by the second quarter of 2022.

Furthermore, some struggling firms may look to sell streamline operations, non-core assets and reduce debt loads. In contrast, others with strong balance sheets & access to investment can be expected to make strategic acquisitions and further integrate their supply chains, leading to increased merger and acquisition activity. To alleviate the problem, several consumers have shifted significantly towards online platforms, andmany businessesand industries have responded them in back. Hence, byinvesting in digital technologies,it is anticipated to outsize the revenue growthof market during the pandemic.

Supply Chain Analysis

The supply chain analysis evaluates every stage and step taken by stakeholders involved throughout the production and distribution of carbonyl iron powder. Particularly, the rapid growth of productionin China has resulted in an increased need for raw materials to supply many different industries. At the same time, as in some cases, this increasing demand has resulted in the need to import these materials. It has also allowed China to develop its own domestic supply chain further.

However, in 2020, COVID-19 has massively disrupted the supply side of the world economy, shutting down entire industries. This has resulted insupply shortages that affectedseveral sectors due to panic buying, increased usage of goods to fight the pandemic, and disruption to factories and logistics in mainland China.

To overcome this situation, many manufacturersand distributorshas resumed their work in various regions, some of the key players of Carbonyl Iron Powder Market has restart their business operation at their production plantamid ongoing epidemic While other key playersarerevisiting their global supply chain strategy and accelerate the adoption of digital supply network models to respond to the immediate challenge.

Market USP

Carbonyl Iron Powder Market has unique morphological properties and is a good absorber.

Market Drivers

• High demand for electronic components


• Upsurge in demand for nutritional supplements


• Increasing demand from aerospace industries

Market Restraints

• Fluctuation in prices of raw materials

Segmentation

By Application

• Inductive Electronic components: Inductive electronic components are one of the largest applications of carbonyl iron powder because of their outstanding magnetization characteristics that make themsuitable for the production of inductive electronic components, magnetic inks,and magnetorheological fluids. It can be easily included in elastomeric, plastic, and varnish matrices to reduce the reflection of objects subjected to radiation in the radar and microwave frequency bands and provide effective electromagnetic interference shielding for electronic equipment.


• Microwaves and Radar Absorption: The radar & microwave segment is expectedto provide lucrative opportunities to the market players as carbonyl iron powder is used in microwaves and radar absorbers. Carbonyl iron powder is a good absorber of microwave frequencies with its unique microstructure and can be used for various technologies, from satellite TV to mobile phones.


• Nutritional Supplements: The nutritional supplements segment is likely to witness stable growth during the forecast period.


• Metal Powder Injection Molding: The metal powder injection molding segment is expected to drive the Carbonyl Iron Powder Market Demand in the forecast period. This is because carbonyl iron powder has a fine spherical shape, leading to improved compacting and sintering properties, and is essential for metal powder injection molding.


• Others: The otherssegment includes diamond tools and metallic inks

By Region

North America: North America has shown steady growth during the assessment period. Rising electronics production and advancement in the aerospace industry are expected to drive Carbonyl Iron Powder Market Growth during the forecast period.

Europe: Europe is projected to witness high demand for carbonyl iron powder owing to the growing electronics industry in Europe.Germany has witnessed substantial growth in electronic product production and sales in this region, with an export share of 52% in 2017.

Asia-Pacific: Growing demand from the aerospace, electronics, and medical industry in Asia-Pacific is expected to push the market demand in the forthcoming years. China is one of the major markets for carbonyl iron powder for metal powder injection molding applications.

Latin America: Industrialization in Latin America is driving the Carbonyl Iron Powder Market Growth in the region. The growth of the automotive, energy and aerospace industries is expected to drive the regional Carbonyl Iron Powder Market during the review period.

Key Players

The key players of the Carbonyl Iron Powder Market are expanding their business by acquiring and diversifying portfolios by developing and innovating products. Some of the major players are planning to set up production plants in developing countries to expand the company’s footprint across the globe.In February 2020, BASF SE had completed its acquisition of the integrated polyamide business from Solvay and purchased various businesses from Bayer, further strengthened our position in engineering plastics and the agricultural sector.Furthermore, Jiangxi Yuean Superfine Metal Ltd situated in China and is one of the leading producersof carbonyl iron powder in Asia-Pacific region. In 2018,the company has established a leading position in China as a supplier of metal injection molding feedstock, theyusescarbonyl iron powders as metal injection molding feedstock.

Major Players Operating in the Carbonyl Iron Powder Market are listed below:

• BASF SE


• Stanford Advanced Materials


• Reade International Corp.


• Sintez-CIP


• JIANGXI YUEAN ADVANCED MATERIALS Co., Ltd


• CNPC Powder


• Yuelong Superfine Metal Co


• Jilin ZC New Materials Co., Ltd.


• Severstal


• Parshwamani Metals


• Industrial Metal Powders (India) Pvt. Ltd.


• SkySpring Nanomaterials


• International Specialty Products

Report Scope:

Report Attribute/Metric	Details
Market Size	2028: USD 274 Million
CAGR	3.80% (2020-2028)
Base Year	2019
Forecast Period	2020-2028
Historical Data	2018
Forecast Units	Value (USD Million
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Application and Region
Geographies Covered	North America, South America, Europe, Asia-Pacific, Middle-East, and Africa
Key Vendors	BASF SE, Stanford Advanced Materials, Reade International Corp., Sintez-CIP, JIANGXI YUEAN ADVANCED , ATERIALS Co., Ltd, CNPC Powder, Yuelong Superfine Metal Co, Jilin ZC New Materials Co., Ltd., Severstal, Parshwamani Metals, Industrial Metal Powders (India) Pvt. Ltd., SkySpring Nanomaterials, International Specialty Products
Key Market Opportunities	Increasing demand from aerospace industries
Key Market Drivers	High demand for electronic components.\r\n Upsurge in demand for nutritional supplements.