Carbonyl iron powder market projected to reach $375 million by 2032, driven by growing demand.

From GlobeNewswire: 2025-01-10 09:00:00

The Carbonyl Iron Powder Market is set to hit a valuation of USD 375 Million by 2032, with a 5.1% CAGR from 2024-2032. Demand is driven by the need for high-purity materials in advanced manufacturing, additive manufacturing, and the automotive industry’s shift towards electrification.

Key companies in the market include BASF SE, Hoganas AB, and Rio Tinto Metal Powders, among others. The market report details a CAGR of 5.1% from 2024 to 2032, with a market size of USD 240 Million in 2023. Rising demand for carbonyl iron powder is a key driver of market growth.

In 2023, the type segment led the market with Reduced Iron Powder contributing over 40.6% of revenue. The automotive sector dominated the end-user segment, driven by lightweight materials for better fuel efficiency. Asia-Pacific leads the market, with China driving demand in the electronics and automotive industries.

Recent developments include BASF SE expanding production capacity for carbonyl iron powder and JFE Steel Corporation introducing ultra-fine CIP for additive manufacturing applications. The market continues to grow due to increasing demand across various industries and regions. CNPC Powder has launched an eco-friendly carbonyl iron powder with improved flowability and particle size uniformity for aerospace and medical industries. The market is expected to see significant growth by 2023, driven by applications in high-performance materials, electronics, automotive, and additive manufacturing. This aligns with global sustainability goals.



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