Iron Powder Market Analysis by Application, Type & Forecast 2032
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The global iron powder market size was USD 1.78 billion in 2024. The market is projected to grow from USD 1.64 billion in 2025 to USD 2.42 billion by 2032 at a CAGR of 5.7% during the period 2025-2032. This information is published by Fortune Business Insights in its latest report titled, “Iron Powder Market, 2025-2032.” The growing demand for automobiles and rising disposable incomes are key factors propelling the market growth. Expanding automobile production in countries such as China, Japan, and India is expected to further drive the need for components manufactured using iron powder. Additionally, the increasing adoption of additive manufacturing technologies in the automotive sector is anticipated to boost market expansion. The potential use of powdered iron as an alternative fuel source is also expected to positively influence the market outlook. Major players operating in the market include Rio Tinto, Höganäs AB, and JFE Steel Corporation. However, the market growth may be restrained by the rising prevalence of chronic illnesses associated with excessive consumption of iron-rich supplements.
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Market Segmentation:
By Type:
The atomized segment is projected to hold the largest share of the global iron powder market in terms of revenue during the forecast period. Atomized iron powder, produced by melting iron and converting it into fine particles through atomization, is highly valued for its purity, uniformity, and superior performance characteristics. It finds extensive application in additive manufacturing (3D printing), metal injection molding, and welding processes. The growing adoption of 3D printing technologies and the increasing demand for advanced materials in industries such as aerospace, healthcare, and electronics are key factors driving the demand for atomized iron powder.
By End-Use Industry:
The automotive segment is expected to dominate the market throughout the forecast period. The automotive industry represents one of the largest consumers of iron powder, primarily for manufacturing Powder Metallurgy (PM) components. The segment’s growth is driven by the rising need for lightweight, durable, and cost-efficient materials that enhance fuel efficiency and reduce emissions. Moreover, the accelerating transition toward Electric Vehicles (EVs) is boosting the demand for iron powder in the production of Soft Magnetic Composites (SMCs), which are essential for electric motors and other EV components. Major regions contributing to this demand include Asia Pacific, Europe, and North America, owing to their strong automotive manufacturing presence.
List of the Companies Operating in the Global Market:
- JFE Steel Corporation (Japan)
- Höganäs AB (Sweden)
- Reade International Corporation (U.S.)
- Industrial Metal Powders (India) Pvt. Ltd. (India)
- American Elements (U.S.)
- ATI (U.S.)
- Ashland (U.S.)
- BASF (Germany)
- CNPC Powder (China)
- Rio Tinto Metal Powders (U.K.)
- Other Players
DRIVING FACTORS:
Increasing Demand for Clean Fuel Energy Source to Promote Growth
Finely grounded powder during burning emits high temperature and energy as it goes through an oxidation process with zero carbon emission. The iron oxide obtained as a residual product through this process is recycled and the powdered iron serves as an energy storage medium. Owing to their several benefits such as low emission level, cost-effective, and sustainability, powdered iron is gaining traction as a clean fuel energy source across the globe. This is expected to boost the global iron powder market growth during the forecast period.
Further Report Findings:
- Asia-Pacific is expected to hold the highest position in the market during the forecast period. This is ascribable to factors such as China being the manufacturing hub of electronics products is expected to boost the product’s adoption in the region. Asia-Pacific stood at USD 1,921.8 million in 2020.
- The market in Europe is expected to experience considerable growth backed by the increasing focus of the OEM manufacturers to develop iron powder products and components to reduce the overall weight of the vehicle.
- The Middle East and Africa is expected to showcase considerable growth during the forecast period. This is attributable to the growing demand for the product from several industrial applications such as surface coating, chemical reagents, and oxygen absorbers.
- Based on type, the electrolytic segment held a global iron powder market share of about 23.0% in 2020 and is likely to experience exponential growth due to the high demand for electrolytic powdered iron as a reagent and catalyst in the synthesis process of diamonds.
COMPETITIVE LANDSCAPE:
Facility Expansion by Major Companies to Intensify Industry Competition
The global market for iron powder comprises small, medium, and large companies striving to maintain a stronghold by focusing on expanding their facilities to develop powdered metal materials to cater to the growing demand from industries such as automotive, healthcare, and others. Moreover, the adoption of strategies such as collaboration, the introduction of new products, and merger and acquisition by other key players is expected to boost the growth of the market between 2021 and 2028.
Industrial Development:
- March 2025: Höganäs AB partnered with Porite TAIWAN Co., Ltd. to supply its new zero sponge iron powder, replacing standard sponge powders and reducing carbon emissions in Porite’s production processes.
- January 2024: JFE Steel Corporation, along with JFE Techno-Research and Armis Corporation, developed an axial-gap motor using insulation-coated pure-iron powder Denjiro, offering the same power as larger radial-gap motors while being 48% thinner and 40% lighter.
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