Market
Forecast:
The global
carbonyl iron powder market is expected to grow at a healthy CAGR of over 3.80% by
the end of the forecast period.
Carbonyl
iron powder is a metal powder with high purity, high activity, and fine
particle size. Low-pressure decomposition and thermal breakdown of metal
carbonyl compounds are two techniques used for producing carbonyl iron powder
formed in the reaction between carbon monoxide and metal. Typical
applications of carbonyl iron powders include metal injection molding, magnetic
cores, hard-metal binders, radar absorption materials, magneto-rheological
fluids for shock/vibration damping, precision polishing, industrial diamond
synthesis, and health supplements.
The iron
content of carbonyl iron powder is greater than 97%, whereas carbon and
nitrogen concentration is less than 1%. Impurities such as Fe2O3 and Fe3N can
be found in carbonyl iron powder. Since the iron surface absorbs CO and
NH3, iron powder has a high hardness and is called hard powder.
BASF SE,
situated in Germany, is one of the leading producers of carbonyl iron powder
across the globe. Due to its unique properties, BASF carbonyl iron powder is
the optimum solution for many applications.
Regulatory
Framework
Furthermore,
the European Inventory of Existing Commercial Substances (EINECS)regulatory
standard of Europe and Occupational Safety and Health Administration (OSHA)
Hazard communication standards is a large regulatory agency of the US, compiled
some regulations that help manufacturers of carbonyl iron powder in their
proper production and testing.
There are
various American Society for Testing and Materials (ASTM) standards for the
production and testing of material in high purity and ultra-high purity (up to
99.99999%) forms available in a wide range of grades. Carbonyl iron powder is
also a high purity grade of iron powder consisting of a purity range of 98%,
99%, and above 99.5%.
Impact of
Coronavirus Outbreak
The world
has experienced unforeseen issues due to the COVID-19 pandemic in 2020, and the
metal sector was no exception. Countries such as Japan, Vietnam, the US, and
Italy struggle to strike a balance between COVID-19 impact and the opening of
their economies. At the same time, several industrial manufacturing units
worldwide face an extended period of uncertainty.
The pandemic
negatively influenced the carbonyl metal powder market because many downstream users of
electronics materials, aerospace and heavy equipment industries have witnessed
a decline in demand. Some struggling companies may look to sell non-core
assets, streamline operations, and reduce debt loads. In contrast, others with
a strong balance sheet and access to capital are likely to make strategic
acquisitions and further integrate their supply chains, resulting in increased
merger & acquisition activity.
Even some
small-scale manufacturing companies had to shut down their companies owing to
the major loss in business. But, with the uplifting of bans and limitations,
the market is anticipated to bounce back to normal by the second quarter of 2022.
Segmentation
By
Application
This
segment is divided into inductive electronic components, microwaves and radar
absorption, nutritional supplements, metal powder injection molding, etc.
- The metal powder injection
molding segment is expected to be the fastest-growing segment during the
forecast period. Since carbonyl iron powder has great sintering qualities,
good flow ability, outstanding strength, and good surface texture, it
plays a critical role in metal injection molding.
- The inductive electronic components
segment has witnessed a substantial growth rate in the historical period.
This growth is expected in forthcoming years because of its
outstanding magnetization characteristics that make it appropriate for
producing magnetic inks, inductive electronic components, and
magneto-rheological fluids.
- With the development of radar
and microwave communication technology and the need for
anti-electromagnetic interference coatings, there is an increase in demand
for carbonyl iron powder in the radar and microwave segment as carbonyl
iron powder has good electromagnetic properties and is a good absorber.
- The nutritional supplement
segment is likely to witness stable growth during the forecast period. The
growing interest in immune health is expected to increase the demand for
nutritional supplements in the forecast period.
- The otherssegment includes
diamond tools and metallic inks applications. Particularly, electronic
iron powder, carbonyl iron powder, atomized iron powder, and reduced iron
powder are the types of iron powder used in diamond tool applications.
By Region
- North America: North America is expected to
dominate theglobal market share because ofrising electronics production
and advancement in the aerospace industry, whichis expected to propel the
market demand over the foreseeable period.
- Europe: Europe is a major regional
carbonyl iron powder market, led by the growth in the electronics industry
in the region's growth in electronics industry.
- Asia-Pacific: It is the fastest-growing
regional marketglobally, consisting of maximum manufacturers of carbonyl
iron powder in China.Also, improvingeconomic conditions in the regionhave
resulted in fast-paced industrialization, estimated to drive global market
growth.
- Latin America:The key players operating in the
carbonyl iron powder market in Latin America are investing significantly
in research and development activities.
Access
full report @ https://www.marketresearchfuture.com/reports/carbonyl-iron-powder-market-10635
No comments:
Post a Comment