The Global Electrolytic Iron Market To Witness Growing Demand Owing To The Expansion Of Construction And Manufacturing Units And The Requirement From Automobile Manufacturers

 

Electrolytic iron is the pure form of ionic iron. Electrolytic iron is generally obtained by electrolysis where an electrochemical reaction removes large molecules from the solution. It is used in industries such as welding and foundry. It contains high levels of impurities with a very little amount of iron-ore particles. Electrolytic impurities in the iron range from 0.1 % to less than 0.1 % and impurities can range from metallic ions to lead. The increasing demand for powdered electrolytic iron, for manufacturing for polymer filtrations, surface coating, printing, welding, iron fortification, soft magnetic components, friction products, brazing, and sintered components, is creating significant demand in the global electrolytic iron market. Thus, electrolytic irons are mainly used in manufacturing and construction plants, and the expansion of these sectors is also influencing the growth of the global electrolytic iron market. For instance, according to McKinsey & Company, the construction sector is one of the most significant sectors in the world economy, with approximately US$ 10 trillion invested in construction-related services and goods every year.

Uses Electrolytic iron has been used for over a thousand years. It was first used in the textile industry where it was used for turning linen and thread into the thread. This process broke down the molecules into ions and the ions escaped through the holes. Later this method was also used to separate metal ions from other compounds. However, the main usage of electrolytic iron today is for ionizing metals. There are several sources for this type of iron, including dealers in electronic goods and industrial supplies and manufacturers. Recently, online stores have sprouted up that stock this highly useful product. They offer a wide range of products including stainless steel wire and rods, stainless steel wire baskets, steel wires, stainless steel bolts and nuts, stainless steel nuts and bolts, non-metallic salts, and other metal ions. Some of these suppliers offer international shipping. However, the production cost the electrolytic iron is high and is a very energy-intensive and laborious process, which may act as a restraining factor, hindering the growth of the global electrolytic iron market.

In North America, the automotive industry is always focused on conserving the environment and hence there is a requirement for electrolytic iron in the region, which is propelling the existing demand of the global electrolytic iron market. For instance, according to the United States Department of Energy, the usage of materials that are lightweight will result in saving around 5 billion gallons of fuel by 2030. Moreover, a 10% reduction of weight of the automobiles can result in a 6% to 8% improvement in the fuel economy. Owing to all these factors, there have been some significant industrial developments in the global electrolytic iron market. For instance, in January 2018, Industrial Metal Powders (IMP), an India-based manufacturer of electrolytic iron powder, decided to invest in PrintForm.