Austin, Jan. 10, 2025 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “The Carbonyl Iron Powder Market is projected to reach a valuation of USD 375 Million by 2032, growing at a compound annual growth rate (CAGR) of 5.1% from 2024 to 2032.”
Trends Prompting the Carbonyl Iron Powder Market
One of the key trends propelling the carbonyl iron powder market is the growing demand for high-purity, fine-particle materials in advanced manufacturing processes. Carbonyl iron powder, known for its superior magnetic properties, controlled particle size distribution, and high purity, is widely used in applications such as magnetic cores, inductors, and shielding materials in electronics. As industries strive for miniaturization and higher efficiency in electronic components, the demand for CIP continues to rise.
Additionally, the increasing adoption of CIP in additive manufacturing (3D printing) is significantly driving market growth. Its excellent flowability and consistent particle size make it a preferred material for producing precision components in aerospace, automotive, and medical applications. Advancements in additive manufacturing technologies are further enhancing the usability of CIP in creating complex geometries and lightweight structures.
The automotive industry's shift towards electrification and the development of energy-efficient vehicles are also boosting CIP demand. Carbonyl iron powder is extensively utilized in soft magnetic composites (SMCs) and electromagnetic shielding applications, playing a critical role in enhancing the performance of electric motors and reducing electromagnetic interference (EMI).
Moreover, the rise in military and defense applications, where CIP is used in radar absorption materials and stealth technologies, is contributing to market expansion. The emphasis on enhancing defense capabilities globally is expected to bolster the demand for carbonyl iron powder.
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Key Companies:
- BASF SE (BASF Carbonyl Iron Powder, Iron Powders for Magnetic Applications)
- Hoganas AB (Hoganas Carbonyl Iron Powder, Hoganas Pre-alloyed Powders)
- INDUSTRIAL METAL POWDERS (INDIA) PVT. LTD. (Carbonyl Iron Powder, Iron Powder for Electronics)
- KOBE STEEL LTD. (Iron Powder for Sintered Components, Fine Iron Powder for Electronics)
- Rio Tinto Metal Powders (Carbonyl Iron Powder, Atomized Iron Powder)
- JFE Steel Corporation (High Purity Carbonyl Iron Powder, Sintered Iron Powders)
- SkySpring Nanomaterials (Iron Nanopowder, Carbonyl Iron Powder)
- International Specialty Products (Carbonyl Iron Powder, High Purity Iron Powder)
- Parshwamani Metals (Iron Powder, Carbonyl Iron Powder)
- Yuelong Superfine Metal Co. (Carbonyl Iron Powder, Metal Powders for Electronics)
- Jilin ZC New Materials Co., Ltd. (Carbonyl Iron Powder, Fine Iron Powder)
- Stanford Advanced Materials (Carbonyl Iron Powder, Iron Nanopowder)
- Reade International Corp. (Iron Powder, Carbonyl Iron Powder)
- Sintez-CIP (Carbonyl Iron Powder, Iron Powder for Automotive Industry)
- JIANGXI YUEAN ADVANCED (Carbonyl Iron Powder, Iron Powders for Electrical Applications)
- Henan Zhongtai Industrial Co., Ltd. (Carbonyl Iron Powder, Powder Metallurgy Materials)
- Korea Metal Powders Co., Ltd. (Carbonyl Iron Powder, Fine Iron Powder)
- Molycorp Inc. (Carbonyl Iron Powder, Metal Powders for Electronics)
- GGP Metal Powders Ltd. (Carbonyl Iron Powder, Sintering Iron Powder)
- Sumitomo Metal Mining Co., Ltd. (Carbonyl Iron Powder, Powdered Iron Products)
Carbonyl Iron Powder Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 240 Million |
| Market Size by 2032 | USD 375 Million |
| CAGR | CAGR of 5.1% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Reduced Iron Powder, Atomized Iron Powder, and Electrolytic Iron Powder) • By End-User (Automotive, Chemical, General Industrial, Food, and Others) |
| Key Drivers | • Rising demand for carbonyl iron powder drives market growth. |
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Which Type Segment Led the Market in 2023?
The type segment of the Carbonyl Iron Powder Market generated the highest revenue share of more than of 40.6% in 2023, owing to the high usage of Reduced Iron Powder in different industries such as automotive, electronics and metallurgy. The high purity, excellent magnetic properties, and low cost of poly-crystalline alloys are probably the reasons for its popularity. Moreover, its superior properties also make it widely utilize in application such as electromagnetic interference shielding and magnetic recording media, which populate its market demand maintaining its top spot in the segment.
Which End-User Segment Dominated the Market in 2023?
In 2023, the Carbonyl Iron Powder Market held the maximum revenue share of the automotive sub-segment which was attributed to the rising applications of lightweight materials across auto vehicles to promote better fuel efficiency and minimal emissions. The adoption of carbonyl iron powder for use in automotive applications, including electromagnetic interference shielding components and brake pads, played a significant role in driving its demand in this segment. In addition, the skyrocketing electric vehicle industry who use advanced materials such as been a big push for carbonyl iron powder in automotive applications especially for electric motor components.
Regional Insights: Asia-Pacific Leads the Market
The Asia-Pacific region held the largest market share of approximately 48.50% in 2023, primarily due to the region's robust manufacturing base, expanding electronics industry, and increasing automotive production. Countries such as China, Japan, and South Korea are at the forefront of CIP adoption, leveraging their technological advancements and cost-effective production capabilities.
China's dominance in the electronics and automotive industries is a major driver for the CIP market in Asia-Pacific. The country’s focus on developing electric vehicles (EVs) and renewable energy infrastructure is creating substantial demand for soft magnetic composites and electromagnetic shielding materials, where CIP plays a pivotal role.
Recent Developments
- In 2023, BASF SE expanded its production capacity for carbonyl iron powder at its Ludwigshafen facility in Germany. The expansion aims to meet the growing demand for high-purity CIP in the electronics and automotive industries while supporting the company’s sustainability initiatives.
- In 2023, JFE Steel Corporation introduced a new line of ultra-fine carbonyl iron powders designed for additive manufacturing applications. These powders offer enhanced flowability and particle size uniformity, catering to the increasing demand for precision components in aerospace and medical industries.
- In 2023, CNPC Powder launched an eco-friendly carbonyl iron powder variant with reduced environmental impact during production. This initiative aligns with global sustainability goals and supports industries aiming to minimize their carbon footprint.
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Conclusion
The carbonyl iron powder market is poised for significant growth, driven by its increasing application in high-performance materials, electronics, automotive, and additive manufacturing industries. The market’s alignment with technological advancements and sustainability objectives underscores its critical role in enabling industrial innovation.
As industries continue to seek reliable, efficient, and sustainable solutions, the adoption of carbonyl iron powder is expected to surge, ensuring its prominence as a key material in modern manufacturing. With continuous R&D and advancements in production technologies, the CIP market is set to play a pivotal role in shaping the future of industrial applications.
Table of Contents – Major Key Points
1. Introduction
- Market Definition
- Scope (Inclusion and Exclusions)
- Research Assumptions
2. Executive Summary
- Market Overview
- Regional Synopsis
- Competitive Summary
3. Research Methodology
- Top-Down Approach
- Bottom-up Approach
- Data Validation
- Primary Interviews
4. Market Dynamics Impact Analysis
- Market Driving Factors Analysis
- PESTLE Analysis
- Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
- By Production Capacity and Utilization, by Country, By Type, 2023
- Feedstock Prices, by Country, By Type, 2023
- Regulatory Impact, by l Country, By Type, 2023.
- Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
- Innovation and R&D, Type, 2023
6. Competitive Landscape
- List of Major Companies, By Region
- Market Share Analysis, By Region
- Product Benchmarking
- Strategic Initiatives
- Technological Advancements
- Market Positioning and Branding
7. Carbonyl Iron Powder Market Segmentation, By Type
8. Carbonyl Iron Powder Market Segmentation, by End-User
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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