About the Iron Powder Market in North America
Iron powder has numerous applications based on its type and method of manufacture. The iron powder particles range in size from 20 micrometer to 200 micrometer. It is used in brazing, sintered parts, metallurgical applications, laboratory studies, chemical processes, and others.
Technavio’s analysts forecast the iron powder market in North America to grow at a CAGR of 5.2% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the iron powder market in North America for 2016-2020.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Iron Powder Market in North America 2016-2020
Technavio recognizes the following companies as the key players in the iron powder market in North America: Ashland, Belmont Metals, Carpenter Technology, Hoeganaes, and Rio Tinto Metal Powders.
Other Prominent Vendors in the market are: ACuPowder International, Ametek, Crucible Specialty Metals, Powder Alloy, and SuperAlloy International.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is boosting market growth is the development and use of integrated powder solutions. The iron powder market in North America is using machinability enhancing additives to improve products made from iron powder. Manufacturers are also using advanced mixing and binding technology and specially designed lubricants in manufacturing processes. This enables efficient experimental and simulation methods, which help optimize product and process design, durability, quality, and performance.”
According to the report, a key growth driver is the rising demand from the automotive industry. In terms of volume, the automotive industry in North America is growing at a rapid pace owing to increased consumer confidence and recovery of automobile industry leading to increased consumption of iron powders. Iron powder improves the quality of automotive parts and helps deliver optimum performance, enhancing the performance of these parts. Vendors in the market are focusing on value addition to enhance metallurgical properties of iron powder to meet the stringent requirements from automakers. Iron powder is used in steering parts, engine parts, transmission parts, seat and door parts, suspension parts, brake parts, and sensors. It is primarily used for soft magnetic applications.
Further, the report states that one challenge that could restrict market growth is competition from China.
Ashland, Belmont Metals, Carpenter Technology, Hoeganaes, Rio Tinto Metal Powders, ACuPowder International, Ametek, Crucible Specialty Metals, Powder Alloy, SuperAlloy International.
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