“Global Carbonyl Iron Powder Market, by Product Type (Carbonyl Iron Powder, Atomized Ultra Fine Iron Powder, Other Types), By Application (Powder Metallurgy, Electronics Industry, Diamond Tools, Military Industry, Food and Drug Industry, Other Applications), as well as by Region – Global Forecast 2021 to 2029.”, which offers a comprehensive view of the global carbonyl iron powder market through systematic segmentation, covering every aspect of this target market. The 5-year (2021–2026) cumulative revenue of this market is projected to be over USD $239.1 Mn, and is estimated to increase moderately over the latter part of the forecast period.
Carbonyl iron is a highly pure grade of iron, that is prepared by chemical decomposition of purified iron pentacarbonyl. It usually has the appearance of grey powder, composed of spherical microparticles. Most of the impurities are carbon, oxygen, and nitrogen.
The drastic spike in the number of individuals populating the world, especially in emerging economies, has resulted in a greater demand for various goods and services. Goods such as consumer electronics, automotive vehicles, etc., as well as services such as established healthcare services, etc., of which, carbonyl iron powder plays a crucial role in the manufacture of. This is a major factor that is anticipated to continue to fuel the projected revenue growth of the global carbonyl iron powder market over the next 10 years. Moreover, carbonyl iron is frequently used as a replacement product for individuals who may experience iron deficiency, or suffer from iron deficiency anaemia. The increasing incidence of this disorder is another major factor that is expected to further augment opportunities for market growth in the years to come. So, whether it is in the manufacture of improved diamond tools, or in the increasing use of this product in food industry, the growing importance of carbonyl iron powder among various end-use industries is gradually gaining more traction with each passing year. These aforementioned factors are some of the most crucial elements that are anticipated to play a critical role in edging the projected revenue of the global carbonyl iron powder market to USD $272.0 Mn by 2029, at a CAGR of 4.5%.
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