High Purity Iron Powder Market Study Provides Latest Intelligence on Growth in 2024 and Beyond
Global High Purity Iron Powder supply-demand continues to be impacted by broader developments in the chemicals sector. The new High Purity Iron Powder market research report outlines the key factors that will impact production, supply, and demand during the assessment period (2021-2031)
The study tracks High Purity Iron Powder demand and sales in over 20 countries, highlighting the variance and unique set of conditions that are unique to every market. The study also analyzes the impact of COVID-19 on chemicals industry in general and High Purity Iron Powder in particular.
How will High Purity Iron Powder Sales Grow in 2024 and Beyond
The High Purity Iron Powderindustry report tracks short-term and long-term growth, offering readers analysis they can use immediately to formulate their strategies.
Overall, demand for High Purity Iron Powder will be heavily influenced by broader developments in the chemicals sector. The Chemical Activity Barometer has shown a stable streak, which is indicative of an ascendancy in US chemicals sector. However, the US chemicals sector growth will depend to a large extent on how end-use industries fare.
Traditionally, demand from automotive sector has been key to chemical demand. The US automotive sector is set to recover in 2024 with sales expected to be in the range of 15.5 million to 16 million.
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Housing is another key demand generator for chemicals sector. The record low mortgage rates have led to momentum in the US housing sector, but it will remain to be seen whether an increase subdues the enthusiasm.
The European chemical sector is also set to recover in 2024, after contracting by 2% in 2024. Recovery is likely to be sustained with a growth of 2% also expected in 2024.
Growth of chemicals sector in Asia Pacific will also contribute to overall recovery. The resurgence of a virulent variant in India has taken the sheen away from the recovery made in 2024, but other economies in the region continue to be on the path to recovery.
The chemical sector in Japan and South Korea is also shifting toward use of green chemicals. Regulation, combined with evolving demand of end-users, is creating a market scenario that is conducive to green chemicals.
Steady Demand for Soft Magnetic Materials to Bolster the Demand
In soft magnetic applications, high purity iron powder is specifically used in ignition system components, electric motor components, solenoids, and inductors. The automotive industry is undergoing rapid electrification. And demand for electrical operating systems and electric power devices has increased as they are indispensable components of EVs and hybrid electric vehicles (hEVs). Electromagnetic coils found in motors and transformers contain an iron core and a copper winding. Manufacturers are focusing on developing soft magnetic iron powder that can deliver higher AC magnetic qualities.
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Competitive Landscape
The Fact.MR study profiles the business, product and other key strategies of the leading High Purity Iron Powder companies in detail. The competitive landscape section of the study tracks market leaders, incumbents, and aspirants, laying out a layered information model that readers can use.
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Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
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