The Carbonyl Iron Powder Marketis anticipated to register a healthy CAGR of over 3.80% to reach around USD 274 Million by the end of the forecast period, 2021-2028.
Carbonyl iron powder is a dark greyish colored powder consisting of refined and pure iron particles with unique morphological properties such as excellent absorption of radar and microwaves, high purity, and outstanding magnetization characteristics.
This material is produced by thermal decomposition of iron pentacarbonyl (Fe(CO)5), which is previously distilled to high purity and results in a wide range of hard soft, coated uncoated varieties of carbonyl iron powder, which are used in several industries such as aerospace defense industry, electronics, and medical. Carbonyl iron powder is a prominent part of the market. It is used in various applications, including prominent metal injection molding, diamond tools, radar absorption, powder metallurgy, electrical components, and metallic inks.
Key players in the global castor wax market are Jayant Agro-Organics limited (India), Gokul Refoils and Solvent limited (India), Adya oils and chemicals limited (India), Liaoyang Huaxing chemicals group corp. (India), Hokoku Corporation (China), BOM Brasil Oleo De Mamona (Brazil), Enovel (Brazil), Frank B. Ross Co. Inc. (US).
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The carbonyl iron powder market has the understated segments:
- Inductive Electronic components
- Microwaves and Radar Absorption
- Nutritional Supplements
- Metal Powder Injection Molding
- North America
- Latin America
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The European region is projected to witness high demand for carbonyl iron powder owing to the growing electronics industry in Europe. As part of the region, Germany has witnessed substantial growth in electronic product production and sales in this region, with an export share of 52% in 2017.
Growing demand from the aerospace, electronics, and medical industry in regions like the Asia-Pacific is expected to push the market demand in the forthcoming years.
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