ELECTROLYTIC IRON MARKET ANALYSIS

Electrolytic Iron MarketSize and Trends

The Electrolytic iron market is projected to reach around US$ 60.6 Million by the end of 2030, in terms of revenue, exhibiting a CAGR of 5.5% during the forecast period (2023-2030).

Vehicle production has increased significantly around the world, which is expected to drive demand for iron powder over the forecast period. Iron powder is used in the automotive industry for powder metallurgy applications, which include automotive parts, gears, bearings, and sintered components, among others that influence the Electrolytic Iron market's future trends. For instance, according to the latest data published by the Society of Indian Automobile Manufacturers (SIAM), the production of passenger vehicles reached 3,650,698 for 2021-2022, representing an increase of 19% compared to 2020-2021.

Rising demand for powdered electrolytic iron is driving the expansion of the electrolytic iron market. Electrolytic iron powder is commonly used in the production of sintered components, brazing, friction products, soft magnetic components, iron fortification, welding, printing, surface coating, and polymer filtrations.

Figure 1: Electrolytic Iron Market: Market Segmentation

Among region, Asia Pacific held dominant position in the Electrolytic iron market in 2022, accounting for 43.8% share in terms of value.

Figure 2: Electrolytic Iron Market: By Purity

Among Purity, high purity held dominant position in the Electrolytic iron market in 2022, accounting for 65% share in terms of value.