Carbonyl Iron Powder Market

Carbonyl Iron Powder Market – Overview

The global carbonyl iron powder market is anticipated to grow at a favorable rate from 2021 to 2031 (forecast period). The growing demand for carbonyl iron powder in the electronics industry for inductive electronic components and electromagnet cores is projected to drive the global carbonyl iron powder market. Carbonyl iron powder is utilized in electromagnetic cores with a high-frequency coil to maintain voltage in tablets, smartphones, personal computers, sensitive digital electrical gadgets, and other devices.

Other important aspects projected to propel the global carbonyl iron powder market include the use of carbonyl iron powder in the manufacturing of diamond tools, metal injection molding, radar absorption, powder metallurgy, and metallic inks.

Carbonyl Iron Powder Market – Competitive Landscape

Key players in the global carbonyl iron powder market are JIANGXI YUEAN ADVANCED, BASF SE, Stanford Advanced Materials, Sintez-CIP, ATERIALS Co., Ltd, Reade International Corp., CNPC Powder, Jilin ZC New Materials Co., Ltd., Yuelong Superfine Metal Co, Severstal, Parshwamani Metals, SkySpring Nanomaterials, Industrial Metal Powders (India) Pvt. Ltd., International Specialty Products.

The leading players are extending their operations by acquiring and expanding portfolios and developing and innovating new products. Some of the key players intend to establish manufacturing operations in emerging countries in order to increase their global footprint. BASF SE acquired Solvay's unified polyamide business and various entities from Bayer in February 2020, substantially strengthening its position in engineering plastics and the agriculture sector. Moreover, Jiangxi Yuean Superfine Metal Ltd is a significant producer of carbonyl iron powder in the Asia Pacific region. In 2018, the company gained a dominant position as a metal injection molding feedstock provider in China, employing carbonyl iron powders as metal injection molding feedstock.

Carbonyl Iron Powder Market – Trends and Opportunities

Carbonyl iron powder is in high demand from a variety of metal powder injection molding applications such as computer manufacturing, automotive components, medical & precision equipment, and other applications, which is anticipated to drive growth in the global carbonyl iron powder market. Furthermore, the unusual microstructure of carbonyl iron powder makes it an ideal microwave absorber, making it suitable for use with a broad array of technologies such as satellite TV, mobile phones, and so on. This factor is expected to boost the global carbonyl iron powder market. Furthermore, the rising demand for carbonyl iron powder as an alternative iron replacement product in the food and pharmaceutical industries is projected to propel the global carbonyl iron powder market in the coming years.

The globe has been confronted with unanticipated issues and uncertainty as a result of the COVID-19 pandemic in 2020. The pandemic has had a negative influence on the metals industry since numerous end-use industries, including electronics, aerospace, and heavy equipment, have experienced a fall in demand. This has had a negative influence on the global carbonyl iron powder market. However, with the relaxation of bans and limitations, the market is expected to return to normalcy during the forecast period.

Carbonyl Iron Powder Market – Regional Landscape

The North America carbonyl iron powder market is projected to expand due to the rising electronics manufacturing and advancements in the aerospace industry.

Moreover, the carbonyl iron powder market in Asia Pacific is likely to grow due to increasing demand from the electronics, aerospace, and medical industries. China is a key market for carbonyl iron powder for metal powder injection molding applications.

The carbonyl iron powder market in Europe is expected to experience considerable growth during the forecast period. The booming electronics industry in the region is projected to benefit the carbonyl iron powder market. Germany has witnessed a significant increase in electronic device manufacture and sales in this region.

Furthermore, industrialization in Latin America is anticipated to propel the carbonyl iron powder market growth. During the study period, the regional market is likely to be driven by the rise of the energy, automotive, and aerospace industries.