At 5.3% CAGR, North America Iron Powder Market is Projected to be Worth US$ 622.61 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the North America iron powder market was valued at US$ 411.18 million in 2022 and is expected to reach US$ 622.61 million by 2030, registering a CAGR of 5.3% from 2022 to 2030. Rising demand from the electronics industry and flourishment of automotive industry are among the critical factors attributed to the North America iron powder market expansion.

The North America iron powder market has experienced significant growth, primarily driven by rising demand from the electronics industry. The electronics industry relies heavily on powdered iron for various applications, such as manufacturing inductors and transformers. These components are essential for the functioning of electronic devices, including smartphones, computers, and power supplies. As consumer electronics continue to advance and become easily available, the demand for high-quality iron powder rises. Additionally, the trend toward miniaturization in the electronics industry has created a need for smaller, more efficient components. Iron powder is well-suited for this purpose, as it can be finely tuned to meet specific requirements, such as magnetic properties and particle size distribution. This versatility has made iron powder attractive for manufacturers producing compact, high-performance electronic devices. According to Invest India, the global electronics manufacturing services market is anticipated to reach US$ 1,145 billion by 2026, at a CAGR of 5.4% during 2021-2026. The push for renewable energy sources and electric vehicles has further boosted the demand for iron powder. Electric motors and generators used in these technologies often rely on iron powder cores for their magnetic properties, enhancing efficiency and reducing energy loss. Furthermore, as electronic devices become more advanced and interconnected, they generate higher levels of electromagnetic radiation. This radiation can interfere with the proper functioning of nearby electronic components, leading to reduced performance and reliability. To combat this issue, manufacturers in the electronics industry are increasingly turning to EMI shielding solutions, which often rely on iron powder as a core material. Iron powder's magnetic properties make it an excellent choice for absorbing and redirecting electromagnetic waves, safeguarding sensitive electronic components. Thus, the escalating demand for EMI shielding in the electronics industry, driven by increasing electromagnetic interference concerns and the rapid expansion of wireless technologies, has been a crucial factor propelling the growth of the North America iron powder market. As technology continues to evolve and become more integrated into everyday life, the demand for high-quality iron powder is expected to create opportunities for manufacturers and suppliers.

On the contrary, volatility in raw material prices hampers the growth of North America iron powder market.

Based on type, the North America iron powder market is segmented into reduced, atomized, and electrolytic. The atomized segment held 57.0% share of the North America iron powder market in 2022, amassing US$ 234.44 million. It is projected to garner US$ 344.25 million by 2030 to expand at 4.9% CAGR during 2022-2030.

By manufacturing process, the North America iron powder market is categorized into physical, chemical, and mechanical. The physical segment held 62.6% share of the North America iron powder market in 2022, amassing US$ 257.48 million. It is projected to garner US$ 386.54 million by 2030 to expand at 5.2% CAGR during 2022-2030. The physical segment is further subsegmented into atomization and electro deposition. The chemical segment is further subsegmented into reduction and decomposition.

In terms of grade, the North America iron powder market is bifurcated into ? 99.0% and ? 99.1%. The ? 99.0% segment held 63.3% share of the North America iron powder market in 2022, amassing US$ 260.34 million. It is projected to garner US$ 387.92 million by 2030 to expand at 5.1% CAGR during 2022-2030.

By end-use industry, the North America iron powder market is categorized into paints and coatings, additive manufacturing, medical, soft magnetic products, metallurgy, and others. The metallurgy segment held 55.6% share of the North America iron powder market in 2022, amassing US$ 228.41 million. It is projected to garner US$ 348.96 million by 2030 to expand at 5.4% CAGR during 2022-2030. The metallurgy segment is further subsegmented into compound brazing, compound sintering, compound welding, and others.

Based on country, the North America iron powder market is segmented into the US, Canada, and Mexico. The US held 83.1% share of North America iron powder market in 2022, amassing US$ 341.53 million. It is projected to garner US$ 525.39 million by 2030 to expand at 5.5% CAGR during 2022-2030.

Key players operating in the North America 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, Hoganas AB, JFE Steel Corp, Reade International Corp, and Kobe Steel Ltd, among others.

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