The worldwide carbonyl iron powder market has been expected to reach a CAGR of 3.80%, with a value of USD 274 million during the estimated forecasting period of 2021-2028.
According to the industry's latest report, the worldwide carbonyl iron powder market has been expected to reach a CAGR of 3.80%, with a value of USD 274 million during the estimated forecasting period of 2021-2028.
The growing demand for carbonyl iron powder in the electronics industry for deductive electronic components and electromagnet cores is expected to boost the global carbonyl iron powder market. Carbonyl iron powder is commonly utilized in electromagnetic cores with the high-frequency coil, which maintains the voltage in smartphones, tablets, personal computers, sensitive digital electrical gadgets, and other devices.
Carbonyl iron powder is in high demand from a variety of metal powder injection molding applications like computer manufacturing, automotive components, medical & precision equipment, and other applications expected to boost the growth in the global carbonyl iron powder marketsectors. Moreover, the carbonyl iron powder's unusual microstructure helps create an ideal microwave absorber that is suitable for use with a wide range of technologies like satellite TV, mobile phones, etc. This primary factor is expected to significantly raise the global carbonyl iron powder market. The emergence of new technologies and the rising global demand for carbonyl iron powder as alternative iron replacement accessories and products in the food as well as pharmaceutical industries is expected to raise the global carbonyl iron powder market during the upcoming projected year. Iron powder is formed from various iron particles. The size of iron powder particles varies from 20 to 200 micrometers. Iron powder is commercially available in three types: reduced iron powder, electric iron powder, and atomized powder. Every section is used in various applications, which depends on the properties. The electrolyte iron powder with purity, economic advantage, and stability is used in food and water fortification. Such types of iron powder have various industrial and chemical applications. In the industrial sectors, this iron powder is used for filtration and the separation of industrial accessories, appliances, air purifiers, and applications like welding and soft magnets in electromagnetics, catering to both alternating current and direct current. Iron powders also play a role in recycling industrial chemicals, and it is utilized in steel plants and the pharmaceutical industries all across the world.
Due to the pandemic, the entire world has been threatened with the unconditional issues of a world health emergency. This pandemic has had a negative impact on the global carbonyl iron powder market as well as the numerous industrial and manufacturing sectors. The global market has fallen in heavy demand during the global epidemic. Investors and the market's key shareholders have faced a huge loss during the global epidemic. Such things also greatly impact the global carbonyl iron powder market. However, the governments of several regions have issued a strict lockdown procedure for which most of the international borders have been locked. According to this, all the commercial and business activities have been stopped for several periods of time.
The global pandemic affects the global market sectors and has placed a huge impact on the world carbonyl iron powder market share. Due to the stoppage of international borders, most of the manufacturing sectors face a huge loss in production work. Due to the lack of raw materials, most factory manufacturers have been bound to stop their production work which significantly places a direct impact on the global carbonyl iron powder market sectors.
The Chief Factors Existing in the Market:
Cumulative Evaluation of the Market:
Due to global health awareness, several nations deploy a strict lockdown procedure in the nation for which the international and the national borders have been a shield for some time. The global economic sector faces a huge challenge during the pandemic period. Numerous investors and shareholders of the global carbonyl iron powder market want to invest in the new business sectors that can provide a huge amount of production by using advanced technologies and modern industrial equipment. The prominent market players have also increased their production rate just after the opening of global industries, while the competition between the new business sectors and the key market players has raised tremendously.
The stoppage of the international commercial vehicle also placed a serious issue on the production work of several manufacturing industries. Every company and manufacturing sector is continuously trying to improve their production rate as well as to overcome the situation of the global epidemic. The insufficient labors and the high cost of raw materials also affect the industries.
According to the global carbonyl iron powder market analysis report, the entire market has been segmented into three sections: type, end-user, and regional. In terms of the type section, the global market has been segmented into three types: reduced iron powder, atomized iron powder, and electrolytic iron powder. With the basis of the end-user section, it is further divided into five parts automotive, chemical, general industrial, food and others. On a regional basis, the entire global market has been classified into five types: Asia-Pacific, Europe, North America, South America, and Middle East & Africa.
The maximum carbonyl iron powder market valueof the iron powder applications is clean by the particle metallurgy alone while mostly serving on several automobile sections. The utilization process of iron powder in the industrial sectors has been seen in several regions. The global iron powder market has been growing continuously in the Asia-Pacific regions like China, India and Japan. Even such commercialization of iron powders stated in the United States and European countries, and the world production sectors have shifted to China due to the increase of more production rate from the automobile industry to general industries. China and Japan are one of the largest iron powder producers globally, followed by India. North America closely follows the entire Asia-Pacific region due to the demand from the food industry and high use purposes of iron powder sintered parts during the automobile industry production works.
Competitive Intensity within the Industry:
The leading players in the carbonyl iron powder market are continuously extending their operations by receiving and expanding the development and innovation of new technical products. Some of the key market players are planning to extend the establishment of manufacturing operations in the emerging economical sectors. In the present market, China is one of the largest carbonyl iron powder production countries. With the increasing present market demand for carbonyl iron powder, the investors and other shareholders have made a lot of efforts in the production work. Some of the key market players are listed below:
Recent Market Development:
In the modern era, there are a few countries that can produce carbonyl iron powders in the world, and among them, the countries are Germany, China, America, Russia and Japan. According to the report, the carbonyl iron powder production in the world was 18 K MT in 2016. The leading players in the carbonyl iron powder market sector like BASF, Jiangsu Tianyi, Jilin Jien and Sintez CIP. Among all the companies, BASF was the leading carbonyl iron powder producer with a capacity of 12000 MT in 2016.
The global carbonyl iron powder market report contains detailed information and statistics on the latest industries and their framework. All the data and information are contained in the report, which is very much helpful for the readers. This market study report carries the key market practices as well as the forecasting period and the production rate of the global market. The impact of the global epidemic on the market sectors is also included in the report. Along with the market restraints, opportunities and major market challenges are also mentioned in the file. All the segmentation, as well as the detailed regional analysis, are also placed in this market study report.
Key Industrial Segmentation:
|Historical Data||2019 & 2020|
|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||
Carbonyl Iron Powder Market is predicted to grow at 3.80% through forecast period of 2020-2027.
The forecast period for Carbonyl Iron Powder Market research report is 2020-2027.
Carbonyl Iron Powder Market is dominated by APAC region.
Upsurge in demand for nutritional supplements.
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