The global iron powder market size was USD 1.78 billion in 2024. The market is projected to grow from USD 1.64 billion in 2025 to USD 2.42 billion by 2032 at a CAGR of 5.7% during the period 2025-2032. This information is published by Fortune Business Insights in its latest report titled, “Iron Powder Market, 2025-2032.” The growing demand for automobiles and rising disposable incomes are key factors propelling the market growth. Expanding automobile production in countries such as China, Japan, and India is expected to further drive the need for components manufactured using iron powder. Additionally, the increasing adoption of additive manufacturing technologies in the automotive sector is anticipated to boost market expansion. The potential use of powdered iron as an alternative fuel source is also expected to positively influence the market outlook. Major players operating in the market include Rio Tinto, Höganäs AB, and JFE Steel Corporation. However, the market growth may be restrained by the rising prevalence of chronic illnesses associated with excessive consumption of iron-rich supplements.
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By Type:
The atomized segment is projected to hold the largest share of the global iron powder market in terms of revenue during the forecast period. Atomized iron powder, produced by melting iron and converting it into fine particles through atomization, is highly valued for its purity, uniformity, and superior performance characteristics. It finds extensive application in additive manufacturing (3D printing), metal injection molding, and welding processes. The growing adoption of 3D printing technologies and the increasing demand for advanced materials in industries such as aerospace, healthcare, and electronics are key factors driving the demand for atomized iron powder.
By End-Use Industry:
The automotive segment is expected to dominate the market throughout the forecast period. The automotive industry represents one of the largest consumers of iron powder, primarily for manufacturing Powder Metallurgy (PM) components. The segment’s growth is driven by the rising need for lightweight, durable, and cost-efficient materials that enhance fuel efficiency and reduce emissions. Moreover, the accelerating transition toward Electric Vehicles (EVs) is boosting the demand for iron powder in the production of Soft Magnetic Composites (SMCs), which are essential for electric motors and other EV components. Major regions contributing to this demand include Asia Pacific, Europe, and North America, owing to their strong automotive manufacturing presence.