Carbonyl Iron Powder Market – Overview
Carbonyl iron powder is a dark greyish colored powder consisting of refined and pure iron particles with unique morphological properties such as excellent absorption of radar and microwaves, high purity, and outstanding magnetization characteristics.
The Carbonyl Iron Powder Market is anticipated to register a healthy CAGR of over 3.80% to reach around USD 274 Million by the end of the forecast period, 2021-2028.
This material is produced by thermal decomposition of iron pentacarbonyl (Fe(CO)5), which is previously distilled to high purity and 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 a prominent part of the market. It is used in various applications, including prominent 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 positively pushes the global market growth. 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, etc. Applications of carbonyl iron powder in various applications such as fabrication of diamond tools, metal injection molding, powder metallurgy, radar absorption, and metallic inks are other vital factors expected to fuel the Carbonyl Iron Powder Market.
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Some of the contributing market players are mentioned as follows:
The carbonyl iron powder market has the understated segments:
The European region is projected to witness high demand for carbonyl iron powder owing to the growing electronics industry in Europe. As part of the region, Germany has witnessed substantial growth in electronic product production and sales in this region, with an export share of 52% in 2017.
Growing demand from the aerospace, electronics, and medical industry in regions like the Asia-Pacific is expected to push the market demand in the forthcoming years.
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The key players of the Carbonyl Iron Powder Market are opting to expand their business by acquiring and diversifying portfolios by developing and innovating products. Some of the major players are planning to set up their manufacturing and 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 strengthening our position in engineering plastics and the agricultural sector. Furthermore, Jiangxi Yuean Superfine Metal Ltd is situated in China and is one of the leading producers of carbonyl iron powder in the Asia-Pacific region.
In the historic period in 2018, the company established a leading position in China as a supplier of metal injection molding feedstock; it uses carbonyl iron powders as metal injection molding feedstock.
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