High Purity Iron Powder Market Expansion Projected to Gain an Uptick During 2018Posted by Hussain on June 27th, 2018 Fact.MR has announced the addition of the “High Purity Iron Powder Market“ : Global Industry Analysis and Opportunity Assessment, 2018 to 2027" report to their offering. High purity iron (HPI) powder is highly sought after in an array of industries including metallurgy, food and beverage, food packaging, electronics and pharmaceuticals. Different grades of high purity iron (HPI) powder include 99.9, 99.99%, and 99.999%. According to method of production iron powder is broadly classified into reduced iron powder, atomized iron powder and others. These different grades of iron powders find applications in metallurgy industry to manufacture high-density structural parts, magnetic alloys, food packaging, food ingredient, pharmaceutical industry, coated welding electrodes, and to remove sulfur impurity from gasified fuels. Steady Demand for Soft Magnetic Materials to Bolster the Demand In soft magnetic applications, high purity iron powder is specifically used in ignition system components, electric motor components, solenoids, and inductors. The automotive industry is undergoing rapid electrification. And demand for electrical operating systems and electric power devices has increased as they are indispensable components of EVs and hybrid electric vehicles (hEVs). Electromagnetic coils found in motors and transformers contain an iron core and a copper winding. Manufacturers are focusing on developing soft magnetic iron powder that can deliver higher AC magnetic qualities. Preference for Fortified Foods Fueling HPI Powder Utilization Iron deficiency is the most prevalent and widespread nutritional disorder and is the only nutrient deficiency that is significantly present in the industrialized countries. Food grade high purity iron powder approved by FCC has high bio-availability and is a primary ingredient in food fortification. As the global population is rising with the estimations to reach approximately 9.7 billion by 2050, food industry is evolving dramatically to accommodate the increasing demand. A novel application for high purity iron powder is found in animal feed industry whose growth remains under the influence of increased productivity yield and affordable animal protein demand. Valued at US$ 4.3 Mn in 2018, the global food grade iron is estimated to reach US$ 6.9 Mn by the end of 2026. On account of rising iron deficiency and availability of iron rich food varieties, demand for food grade high purity iron powder is set to rise in the future. Increased Iron Supplement Prescriptions to Boost Demand in Pharma Industry With the aim to address global health concern of iron deficiency, high purity iron powder are used in biotechnology as well as pharmaceutical industry for the preparation of iron salts as well as iron supplement drugs. Infant formulas and other nutritional supplement medicines are highly prescribed by medical professionals. These clinically approved medical products contain iron as one of the important ingredients. High purity iron powder is utilized to manufacture iron salts such as ferrous sulfate, ferrous fumarate, ammonium ferrous citrate, iron pallets, iron gluconate, Ferric Chloride and more. In addition, rising government initiatives to address iron deficiency has increased iron supplement production by pharma companies where HPI powder is highly sought after. Key Company Developments As gestation period to establish a fully functional high purity iron powder plant is about 12 months, expansion activities are highly infrequent in the market. However, sustained demand from the end-user industry is gradually widening the supply-demand gap in the market. With the aim of filling this gap, manufacturers are engaged in enhancing product quality to deliver highly pure metal for different applications. Visit For TOC @ https://www.factmr.com/connectus/sample?flag=T&rep_id=705
Further, companies are less likely to go for expansion, equating to moderate increase in demand over short term forecast period. Nevertheless, established players need to have defense strategy in place against new entrants in the market, albeit the trace element content in high purity iron powder is supplied by tier II supplier, predominantly companies based out of Far East Asia. Key Companies in the global high purity iron market include Höganäs, Rio Tinto Metal Powders, Laiwu Iron & Steel Group, Kobelco Construction Equipment India Pvt. Ltd., Jiande Yitong Metal Powder Co., Ltd., JFE Steel Corporation, Pometon Powder, BaZhou HongSheng, Wuhan Iron & Steel Group Corp., Anshan Iron & Steel Group Corp., and Masteel UK Limited among others. About Fact.MR Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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