Overview of the iron powder market in North America
Extensive research carried out by the analysts at Technavio has shown that the iron powder market in North America is envisaged to grow steadily at a moderate CAGR of more than 5% over the forecast period. Iron powder is used in the steel industry for a number applications including stainless steel cutting, brazing, and surface coating for steel rollers. Therefore, an augmented demand for steel from the energy, appliance, rail, machinery and equipment, infrastructure, manufacturing, and automotive industries will bolster the growth prospects for the iron powder market in North America over the forecast period. Moreover, steel is used as a building material in energy and water infrastructure and for commercial and residential construction. Also, the North American steel industry makes significant investments in the development of advanced materials and manufacturing technologies, leading to the introduction of new automotive steel, which will, in turn, propel the growth prospects for the iron powder market over the predicted period.
In this industry research study, the analysts have estimated factors such as the development and use of integrated power solutions to drive the growth of this market over the coming years. The iron powder market in North America is using machinability enhancing additives to improve the products made from iron powder. Also, manufacturers are increasingly adopting advanced mixing and binding technologies and specially designed lubricants in manufacturing processes. These advanced and new-age methods help optimize product and process design, durability, quality, and performance, which will contribute to the growth of this market in the coming years.
Product segmentation and analysis of the iron powder market in North America
- Atomized powder
- Carbonyl iron powder
The atomized powder segment dominated the market and accounted for close to 95% of the market share. It is used in numerous applications such as diamond tools, aluminum flat products, PM, stainless steel cutting, and welding. An increase in the use of metal injection molding process, which uses carbonyl iron powder, is likely to drive this segment’s growth until the end of 2020.
Segmentation by application and analysis of the iron powder market in North America
- Powder metallurgy parts
- Welding
During 2015, the powder metallurgy (PM) parts segment led the market and accounted for more than 90%. This segment is anticipated to dominate the market over the predicted period. The augmented demand for PM is derived through the use of sintered parts in a number of industries such as the automotive industry.
Competitive landscape and key vendors
The iron powder market in North America is highly fragmented owing to the presence of several well-established region and international players. The global vendors are increasing their geographical reach to developing countries through mergers and acquisitions. The iron powder market is an innovation and technology driven industry, therefore, to survive and succeed in this intensely competitive environment, it is imperative for the vendors to distinguish their product offerings through clear and unique value propositions.
Key vendors in this market are -
- Ashland
- Belmont Metals
- Carpenter Technology
- Hoeganaes
- Rio Tinto Metal Powders
Other prominent vendors in the market ACuPowder International, Ametek, Crucible Specialty Metals, Powder Alloy, and SuperAlloy International.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the iron powder market in North America?
- What are the key market trends impacting the growth of the iron powder market in North America?
- What are the challenges to market growth for the iron powder market in North America?
- Who are the key vendors in the iron powder market in North America?
- What are the market opportunities and threats faced by the vendors in the iron powder market in North America?
- Trending factors influencing the market shares of North America?
- What are the key outcomes of the five forces analysis of the iron powder market in North America?
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