High Purity Iron Powder Market : Upcoming Demands & Growth Analysis 2021-2031

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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.

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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.

• Höganäs, a world leader in the production of powdered metals will be introducing its new center of excellence at PCIM Europe 2018. The new facility will focus on producing small, compact, and light-weight inductors made from Höganäs’ High magnetic performance iron powder.
• Japan’s third largest steel maker, Kobe Steel is facing investigation charges for proposed violations of misrepresenting inspection data and providing false information about the strength and durability of its products. In addition, 140 tons of Iron powder supplied by Kobe in 2016, did not meet customer satisfaction. The incidence provides a prime example of stringent regulations affecting high purity metal manufacturing.

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.

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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.

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