This industry research study presents a detailed segmentation of the iron power market in North America by product (atomized powder and carbonyl iron powder) and by application (powder metallurgy parts and welding). Leading vendors in the market are Ashland, Belmont Metals, Carpenter Technology, Hoeganaes, and Rio Tinto Metal Powders.
Technavio’s market research analysts estimate the iron powder market in North America to grow at a CAGR of over 5% between 2016 and 2020. The increase in the demand for iron power from the automotive and steel industries and in metal injection molding are the fundamental drivers for the market. At present, the US dominates the market by accounting for over 90% of the overall market share. The rapidly growing automotive sector in the US is expected to trigger an increase in the demand for iron power in the region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the iron powder segments by product.
“Technological advancements in the production process of iron powder is the latest trend in the market. Industry manufacturers are introducing a new variant of nickel, copper, and manganese-free steel which provides good compressibility and hardening. Such technological advances help in improving the throughput of the process equipment and reduces the cost and maintenance involved,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
In 2015, the atomized powder segment dominated the iron powder market in North America by accounting for almost 95% of the overall market share. It finds use in numerous applications such as diamond tool, aluminum flat products, stainless steel cutting, and welding. The increase in the use of metal injection molding process, which uses carbonyl iron powder, is expected to drive the atomized iron powder market in North America during the forecast period.
The key vendors in the iron powder market in North America include Ashland, Belmont Metals, Carpenter Technology, Hoeganaes, and Rio Tinto Metal Powders. The iron powder market in North America is highly fragmented owing to the presence of several well-established region and international players. The global vendors are increasing their geographical reach to developing countries through mergers and acquisitions. The iron powder market is an innovation and technology driven industry, therefore, to survive and succeed in this intensely competitive environment, it is imperative for the vendors to distinguish their product offerings through clear and unique value propositions.
A more detailed analysis is available in the Technavio report, Iron Powder Market in North America 2016-2020.
We can customize reports by other regions and specific segments upon request.
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