Iron powder is an important raw material for industries engaged in the manufacture of powder metallurgy components and of welding electrodes. It is also used in flame cutting and scarfing, electronic, magnetic, chemical and other miscellaneous applications. Production of iron and steel powders from scrap is a viable proposition and provides an opportunity for increased recycling of ferrous scrap.
The global market for metal powder is projected to grow at a CAGR of 3.80% from 2015 to 2020, to reach USD 4,062.2 Million by 2020. The growing GDP in emerging markets such as China, India, and Brazil is estimated to drive the demand for metal powder. Thus, due to demand it is best to invest in this project.
Few Indian major players are as under
· Adhunik Metaliks Ltd.
· Arcvac Forgecast Pvt. Ltd.
· Concast Steel & Power Ltd.
· Crackers India(Alloys) Ltd.
· Dynamic Ship Recyclers Pvt. Ltd.
· Evergrowing Iron & Finvest Pvt. Ltd.
· Hoganas India Pvt. Ltd.