At 3.8% CAGR, Middle East & Africa Iron Powder Market is Projected to be worth US$ 143.49 million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa iron powder market was valued at US$ 106.14 million in 2022 and is expected to reach US$ 143.49 million by 2030, registering a CAGR of 3.8% from 2022 to 2030. Sustainable and eco-friendly manufacturing practices and flourishment of automotive industry are among the critical factors attributed to the Middle East & Africa iron powder market expansion.

Sustainable and eco-friendly manufacturing practices are becoming paramount in today's industrial landscape, and these trends are poised to drive growth in the Middle East & Africa iron powder market. Iron powder, a versatile material with numerous applications, can benefit significantly from its alignment with environmentally responsible production methods. Traditional manufacturing processes often generate significant waste, both in terms of unused raw materials and shaping. However, there is minimal waste with 3D printing or additive manufacturing, which utilizes iron powder as a feedstock. This waste reduction aligns with eco-friendly practices and translates into cost savings for manufacturers, making iron powder an attractive choice.

The production of iron powder can be more environmentally friendly when compared to traditional mining and extraction of iron ore. Recycling and repurposing scrap iron and steel into iron powder can reduce the need for energy-intensive ore extraction processes. Additionally, the recycling of iron powder during the additive manufacturing process further enhances its sustainability credentials, as it minimizes the overall credentials and the environmental impact of iron production. Another aspect of sustainable manufacturing is energy efficiency. Iron powder production methods, such as atomization and reduction, have the potential to be energy efficient when designed and operated with sustainability in mind. These processes can enhance their environmental profile by utilizing renewable energy sources, contributing to the growing demand for eco-friendly materials such as iron powder. Furthermore, iron powder is versatile, offering a wide range of applications that support sustainable practices. It is used in automotive, aerospace, and renewable energy industries, where lightweight components, energy efficiency, and durability are essential. By enabling the creation of innovative and environmentally friendly products, iron powder becomes a vital resource for industries aiming to reduce their carbon footprint and environmental impact. Thus, the shift toward sustainable and eco-friendly manufacturing practices is a significant driving force behind the growth of the Middle East & Africa iron powder market. The reduced waste, energy efficiency, and versatile applications of iron powder align well with these sustainability goals. As industries adopt green manufacturing approaches, the demand for iron powder is expected to rise, making it a pivotal material in the transition toward more environmentally responsible production methods.

On the contrary, the volatility in raw material prices hampers the growth of Middle East & Africa iron powder market.

Based on type, the Middle East & Africa iron powder market is segmented into reduced, atomized, and electrolytic. The atomized segment held 58.5% market share in 2022, amassing US$ 62.11 million. It is projected to garner US$ 81.43 million by 2030 to register 3.4% CAGR during 2022-2030.

In terms of grade, the Middle East & Africa iron powder market is bifurcated into ? 99.0% and ? 99.1%. The ? 99.0% segment held 64.6% share of Middle East & Africa iron powder market in 2022, amassing US$ 68.59 million. It is anticipated to garner US$ 91.23 million by 2030 to expand at 3.6% CAGR during 2022-2030.

By manufacturing process, the Middle East & Africa iron powder market is categorized into physical, chemical, and mechanical. The physical segment held 64.9% share of Middle East & Africa iron powder market in 2022, amassing US$ 68.84 million. It is projected to garner US$ 92.28 million by 2030 to expand at 3.7% CAGR from 2022 to 2030. Furthermore, the physical segment is further subsegmented into atomization and electro deposition. Additionally, the chemical segment is further subsegmented into reduction and decomposition.

Based on end-use industry, the Middle East & Africa iron powder market is segmented into paints and coatings, additive manufacturing, medical, soft magnetic products, metallurgy, and others. The metallurgy segment held 53.2% share of Middle East & Africa iron powder market in 2022, amassing US$ 56.49 million. It is predicted to garner US$ 78.03 million by 2030 to expand at 4.1% CAGR between 2022 and 2030. Furthermore, the metallurgy segment is further subsegmented into compound brazing, compound sintering, compound welding, and others.

Based on country, the Middle East & Africa iron powder market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East and Africa. Our regional analysis states that Saudi Arabia captured 34.9% share of Middle East & Africa iron powder market in 2022. It was assessed at US$ 37.07 million in 2022 and is likely to hit US$ 53.40 million by 2030, registering a CAGR of 4.7% during 2022-2030.

Key players operating in the Middle East & Africa iron powder market are Rio Tinto Metal Powders, American Elements Inc, Industrial Metal Powders (India) Pvt Ltd, CNPC Powder North America Inc, Ashland Inc, BASF SE, JFE Steel Corp, Hoganas AB, Reade International Corp, and Kobe Steel Ltd, among others.


Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com