Food Grade Iron Powder

Food Grade Iron Powder Market Outlook

The global Food Grade Iron Powder market is projected to reach USD 2.5 billion by 2035, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period of 2025-2035. This growth can be attributed to the increasing awareness about nutritional deficiencies, particularly iron deficiency, which is prevalent among various demographics, including pregnant women and children. The surge in demand for fortified foods and dietary supplements is also driving the market as consumers increasingly prioritize health and wellness. Additionally, the expansion of the food and beverage industry in developing regions, coupled with stringent health regulations concerning food safety, is further propelling the need for high-quality food grade iron powders. The rise in urbanization and changing lifestyles have significantly boosted the overall consumption of iron-enriched products, making this market a lucrative space for stakeholders.

Growth Factor of the Market

The growth of the Food Grade Iron Powder market is significantly influenced by several key factors, which include the increasing prevalence of iron deficiency anemia globally. This condition affects millions, especially in developing countries, which has led to heightened awareness regarding dietary iron supplementation. Furthermore, the trend toward healthy eating and the incorporation of essential minerals into everyday diets has motivated food manufacturers to seek iron fortification solutions. The burgeoning supplement industry, focusing on natural ingredients, is also a crucial driver, as consumers are becoming more health-conscious and prefer products that can support their overall wellness. Moreover, government initiatives aimed at addressing nutritional deficiencies through fortified food programs have prompted the use of food grade iron powders in manufacturing processes. Lastly, advancements in the production techniques of iron powders have led to higher quality standards, enabling manufacturers to meet the growing consumer demand for effective nutritional solutions.

Key Highlights of the Market

• Projected market size of USD 2.5 billion by 2035.
• CAGR of 6.5% expected during the forecast period (2025-2035).
• Significant increase in demand for iron-fortified food products.
• Rising awareness of iron deficiency and anemia.
• Expanding distribution channels enhancing product accessibility.

By Product Type

Reduced Iron Powder:

Reduced Iron Powder has gained prominence in the food-grade iron powder market due to its excellent bioavailability, making it a preferred choice for fortification in various food products. It is produced through the reduction of iron oxide, resulting in a powder that is both pure and safe for consumption. This product type is particularly favored in nutritional supplements and dietary formulations. Its properties allow it to be easily absorbed by the body, thus addressing iron deficiency effectively. The market for reduced iron powder is anticipated to witness substantial growth, driven by its application in infant formulas and energy-enriched foods.

Atomized Iron Powder:

Atomized Iron Powder is manufactured by atomizing molten iron and is known for its spherical shape and fine particle size. This characteristic makes it suitable for applications requiring uniform dispersion in food products. The powder is highly stable and has a low level of impurities, appealing to manufacturers who prioritize quality. Its use in the food industry is expanding, especially in the production of functional foods and beverages that cater to health-conscious consumers. The rising trend of clean label products further supports the demand for atomized iron powders as they meet the required safety and purity standards.

Electrolytic Iron Powder:

Electrolytic Iron Powder is produced through an electrolytic process that yields high-purity iron, which is highly desirable in specific food applications where minimal impurities are crucial. This product type is known for its fine particle size and high surface area, facilitating better absorption and efficacy. Its application in nutritional supplements is growing, particularly for products aimed at improving energy levels and overall health. The demand for electrolytic iron powder is expected to rise due to an increasing focus on the health benefits associated with iron supplementation and the growing number of health-conscious consumers.

Carbonyl Iron Powder:

Carbonyl Iron Powder is produced through the carbonylation process and is characterized by its ultra-fine particle size and high purity. This type of iron powder is particularly beneficial in pharmaceutical formulations and dietary supplements where controlled dosage and bioavailability are critical. The superior properties of carbonyl iron powder make it an ideal candidate for applications in infant formulas, where safety and nutritional value are paramount. The market for carbonyl iron powder is anticipated to grow as the demand for premium quality iron sources in food and health products continues to rise.

Nano Iron Powder:

Nano Iron Powder is recognized for its unique properties due to its nanometer-sized particles, which enhance the surface area and reactivity. This product type is still emerging in the food-grade iron powder market but holds significant potential due to its versatile applications in food fortification and health supplements. The growing interest in nanotechnology in food science is expected to drive the adoption of nano iron powders as they can offer higher bioavailability and effectiveness at lower dosages. As research continues to validate the benefits of nano iron, the market for this product type is projected to expand significantly in the coming years.

By Application

Food & Beverages:

The application of food grade iron powder in the food and beverage sector is one of the largest segments within the market. As manufacturers increasingly focus on fortifying food products to enhance nutritional value, iron powder serves as a critical ingredient to combat iron deficiency. From baked goods to breakfast cereals, iron fortification strategies are being employed to cater to health-conscious consumers. The growing trend of functional foods that offer added health benefits is further propelling the use of iron powders in food formulations. Additionally, the rise in demand for organic and clean-label products has encouraged manufacturers to seek high-quality sources of iron that align with these trends.

Nutritional Supplements:

Nutritional supplements represent a significant application area for food grade iron powder, driven by the increasing awareness of iron deficiency and its associated health complications. Iron powders are commonly used in multivitamins and specific iron supplements to provide essential nutrients to various demographic groups, including children, pregnant women, and athletes. The convenience and effectiveness of these supplements make them popular choices among consumers seeking to improve their iron intake. Additionally, the trend toward personalized nutrition has led to a growing demand for targeted iron supplements formulated to meet individual health needs, enhancing the growth prospects for this segment.

Pharmaceuticals:

In the pharmaceuticals sector, food grade iron powder is utilized in various formulations, particularly for those targeting iron deficiency anemia. The high purity and bioavailability of iron powders make them suitable for use in medications and therapeutic products. As healthcare providers increasingly recognize the importance of iron supplementation in managing nutritional deficiencies, the demand for pharmaceutical-grade iron powders is anticipated to rise. Moreover, the ongoing advancements in drug formulations and delivery systems will further drive the use of high-quality iron powders in pharmaceuticals, contributing to market expansion.

Infant Formula:

The use of food grade iron powder in infant formula is crucial for ensuring the adequate iron intake necessary for healthy growth and development. Iron is a vital nutrient for infants, especially in the first year of life when they are most vulnerable to nutritional deficiencies. Manufacturers are increasingly incorporating iron powders into infant formulas to meet dietary recommendations and enhance nutritional value. This segment is expected to grow significantly, propelled by the rising awareness among parents about the importance of nutrition in early childhood, as well as the growing demand for fortified products that support infant health.

Others:

Aside from the primary applications mentioned, food grade iron powder finds use in various other segments, including pet foods, sports nutrition products, and specialty dietary formulations. The versatility of iron powders allows for their incorporation into diverse applications that cater to specific dietary needs. As health and wellness trends continue to influence consumer preferences, the demand for specialized and fortified products is likely to increase, creating opportunities for innovative product development in the 'Others' category. This segment's growth reflects the broader trend of incorporating essential nutrients into a wide range of products aimed at enhancing health and wellness.

By Distribution Channel

Online Stores:

The online store segment has been rapidly growing in the food grade iron powder market, driven by the increasing trend of e-commerce and consumer preferences for convenience. Online platforms provide consumers with easy access to a wide range of iron supplements and fortified products, enhancing product visibility. The availability of detailed product information and customer reviews on these platforms also helps consumers make informed purchasing decisions. Furthermore, the COVID-19 pandemic has accelerated the shift toward online shopping, making it a vital distribution channel for health products, including food grade iron powders. The convenience of home delivery and the ability to compare products online are contributing to the growing dominance of this channel.

Supermarkets/Hypermarkets:

Supermarkets and hypermarkets remain a prominent distribution channel for food grade iron powders, providing consumers with the opportunity to purchase health and wellness products in one location. These retail formats offer a vast selection of dietary supplements and fortified food products, making it easier for consumers to find iron-enriched options. The physical presence of these stores allows for better customer engagement, and promotional activities often drive product sales. As consumers increasingly seek convenience in their shopping experience, supermarkets and hypermarkets continue to play a crucial role in the distribution of food grade iron powders.

Specialty Stores:

Specialty stores, including health food stores and dietary supplement shops, cater specifically to health-conscious consumers seeking specialized products, including food grade iron powders. These retail outlets often feature a curated selection of high-quality iron supplements and fortified foods, appealing to consumers who prioritize nutrition and ingredient transparency. The knowledgeable staff in specialty stores can assist customers in selecting the right products, enhancing the overall shopping experience. As the trend of personalized nutrition continues to grow, specialty stores are well-positioned to meet the needs of consumers looking for specific dietary solutions, including iron supplementation.

Others:

The 'Others' category in distribution channels encompasses various formats, including pharmacies, direct-to-consumer sales, and alternative retail methods. Pharmacies play a significant role in offering food grade iron powders, particularly for consumers seeking over-the-counter nutritional supplements. Direct-to-consumer sales through brand websites and subscription services have also gained traction, providing consumers with the convenience of regular deliveries of their preferred products. Additionally, emerging retail formats such as pop-up shops and farmers' markets are contributing to the overall accessibility of food grade iron powders, further expanding the market reach.

By Ingredient Type

Ferrous Sulfate:

Ferrous sulfate is one of the most widely used forms of iron in the food grade iron powder market. It is particularly favored due to its high solubility and bioavailability, making it effective in addressing iron deficiencies. Ferrous sulfate is commonly used in dietary supplements and fortified foods, as it is easily absorbed by the body. Its application in various food products helps manufacturers meet the nutritional demands of consumers. The market for ferrous sulfate is anticipated to grow as awareness of iron supplementation continues to rise, and as more food products incorporate this ingredient to enhance nutritional value.

Ferric Pyrophosphate:

Ferric pyrophosphate is another important ingredient type in the food grade iron powder market, known for its slow-release properties. This characteristic makes it suitable for use in fortified foods and dietary supplements aimed at providing a steady supply of iron over time. It is particularly beneficial for individuals with specific dietary needs, such as children and pregnant women. The demand for ferric pyrophosphate is expected to grow, driven by the increasing emphasis on maintaining balanced nutrition and the rising prevalence of iron deficiency anemia worldwide. Its application in various food formulations supports the overall market expansion.

Ferrous Gluconate:

Ferrous gluconate is increasingly being recognized as a safe and effective source of iron in the food grade iron powder market. It is often used in dietary supplements due to its mild flavor and high bioavailability. Ferrous gluconate’s compatibility with various food matrices makes it a popular choice among manufacturers looking to fortify their products without altering taste or texture. The growing consumer interest in health and wellness is driving the demand for ferrous gluconate, with many individuals seeking out natural sources of iron supplementation to meet their dietary needs.

Ferric Orthophosphate:

Ferric orthophosphate is another significant ingredient in the food grade iron powder market, valued for its nutritional benefits and safety profile. It is primarily used in fortified foods and nutritional supplements, targeting specific demographics that require additional iron intake. Ferric orthophosphate is known for its stability and ability to retain its nutritional properties, making it suitable for long shelf-life products. As the demand for fortified and functional foods continues to rise, the market for ferric orthophosphate is expected to experience growth, aligning with consumer trends focused on health and nutrition.

Iron Amino Acid Chelate:

Iron amino acid chelate is gaining traction as a premium form of iron in the food grade iron powder market due to its enhanced bioavailability and absorption. This ingredient type is particularly appealing for dietary supplements aimed at improving iron levels in the body. The chelation process allows for better utilization of iron, reducing the risk of gastrointestinal side effects often associated with other forms of iron. The increasing trend towards using chelated minerals in food and supplements is expected to drive the growth of iron amino acid chelate, as consumers seek more effective solutions for iron supplementation.

By Region

The North American food grade iron powder market is projected to witness significant growth over the forecast period, driven by the increasing prevalence of iron deficiency anemia and growing consumer awareness about nutritional products. The region is expected to account for approximately 30% of the global market share by 2035. As health and wellness trends continue to shape consumer behavior, the demand for iron-fortified foods and dietary supplements is expected to rise. Additionally, the presence of key market players and a robust distribution network further support the market's growth in this region. The CAGR for North America is estimated to be around 6.8%, indicating strong growth potential.

Europe is anticipated to hold a considerable share of the food grade iron powder market, accounting for about 25% of the global market. The region's focus on health and nutrition, alongside strict regulations regarding food fortification, fosters a conducive environment for the growth of iron powders. The increasing awareness of iron deficiency, particularly in specific populations such as pregnant women and children, drives demand for fortified products. The CAGR for the European market is projected to be around 6.3%, reflecting the continuous efforts of manufacturers to innovate and meet consumer demands for nutritional supplementation.

Opportunities

The food grade iron powder market presents numerous opportunities for growth, particularly as consumer awareness of health and nutrition continues to rise. One of the most significant opportunities lies in the development of innovative product formulations that incorporate iron powders in various food products, including plant-based and organic foods. As the trend toward clean label products and natural ingredients gains momentum, manufacturers can capitalize on this opportunity by creating iron-fortified items that appeal to health-conscious consumers. Moreover, educational campaigns focused on the importance of iron in the diet can help boost demand, particularly among populations at risk of iron deficiency, thus creating new market avenues.

Additionally, expanding the distribution channels for food grade iron powders offers a substantial growth opportunity. With the rise of e-commerce and online shopping, manufacturers can enhance their reach and accessibility to consumers by establishing a strong online presence. Collaborations with health practitioners and nutritionists can also facilitate the promotion of iron supplementation as a preventive measure against anemia. Furthermore, exploring emerging markets, particularly in Asia and Latin America, where dietary iron deficiency is prevalent, can provide significant growth prospects for food grade iron powder manufacturers looking to expand their global footprint.

Threats

Despite the growth potential, the food grade iron powder market is facing several threats that could hinder its expansion. One significant threat is the increasing competition from alternative iron sources, such as ferrous lactate and other organic iron supplements, which may offer similar health benefits with fewer side effects. These alternatives can attract consumers seeking gentler options for iron supplementation, creating challenges for traditional iron powders. Additionally, the fluctuating prices of raw materials used in the production of food grade iron powders could impact profitability and pricing strategies, leading to challenges in sustaining competitive pricing in the market.

Another potential threat arises from regulatory challenges associated with food fortification and supplementation. Governments across various regions are implementing stricter regulations to ensure consumer safety and product efficacy, which could affect the approval processes for new iron products. Manufacturers may face delays and increased costs in meeting these regulatory requirements, potentially limiting their ability to innovate and respond to market demands efficiently. Furthermore, the rise of misinformation regarding dietary supplements can lead to consumer hesitancy, impacting overall market growth.

Competitor Outlook

• Heraeus Holding GmbH
• Reade International Corp.
• Omya AG
• Hawkins, Inc.
• Ferroalloy Corporation
• American Elements
• Mil-Spec Industries Corporation
• Gerdau S.A.
• Marubeni Corporation
• Iron Powder Industries LLC
• Shanghai Zhongjin Mat. & Tech. Co., Ltd.
• Hunan Jinagxin Metal Materials Co., Ltd.
• U.S. Iron and Steel LLC
• Ferrostaal GmbH
• Jiangxi Yichun Jinsha Iron Powder Co., Ltd.

The competitive landscape of the food grade iron powder market is characterized by a mix of established players and emerging companies, all striving to capture a share of this growing sector. Key market players are focusing on product innovation, quality improvements, and strategic partnerships to enhance their market presence. The competitive dynamics are driven by the increasing demand for fortified food products and dietary supplements, prompting companies to invest in research and development to create superior iron formulations. Additionally, aggressive marketing strategies, including branding and consumer education, are being employed to differentiate products in a crowded marketplace.

Major companies such as Heraeus Holding GmbH are recognized for their extensive experience in metal powder production, offering a variety of high-quality food grade iron powders. The company's commitment to quality and safety ensures that its products meet the stringent demands of the food industry. Similarly, Reade International Corp. is known for its diverse product portfolio and strong distribution network, positioning it well to capitalize on the growing demand for iron powders across various regions. These companies continually adapt to market trends and consumer preferences, enabling them to maintain their competitive edge.

Other notable competitors, such as Hawkins, Inc. and Mil-Spec Industries Corporation, focus on niche markets within the food grade iron powder sector, providing specialized products tailored to specific applications. Their expertise in manufacturing and quality assurance allows them to cater to the unique needs of health-conscious consumers seeking effective iron supplementation. Additionally, companies like Ferrostaal GmbH leverage their international presence to penetrate emerging markets, further expanding their footprint in the global food grade iron powder landscape.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Omya AG
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Gerdau S.A.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Hawkins, Inc.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Ferrostaal GmbH
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 American Elements
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Heraeus Holding GmbH
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Marubeni Corporation
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Ferroalloy Corporation
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 U.S. Iron and Steel LLC
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Reade International Corp.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Iron Powder Industries LLC
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Mil-Spec Industries Corporation
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Hunan Jinagxin Metal Materials Co., Ltd.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Shanghai Zhongjin Mat. & Tech. Co., Ltd.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Jiangxi Yichun Jinsha Iron Powder Co., Ltd.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Food Grade Iron Powder Market, By Application
    • 6.1.1 Food & Beverages
    • 6.1.2 Nutritional Supplements
    • 6.1.3 Pharmaceuticals
    • 6.1.4 Infant Formula
    • 6.1.5 Others
  • 6.2 Food Grade Iron Powder Market, By Product Type
    • 6.2.1 Reduced Iron Powder
    • 6.2.2 Atomized Iron Powder
    • 6.2.3 Electrolytic Iron Powder
    • 6.2.4 Carbonyl Iron Powder
    • 6.2.5 Nano Iron Powder
  • 6.3 Food Grade Iron Powder Market, By Ingredient Type
    • 6.3.1 Ferrous Sulfate
    • 6.3.2 Ferric Pyrophosphate
    • 6.3.3 Ferrous Gluconate
    • 6.3.4 Ferric Orthophosphate
    • 6.3.5 Iron Amino Acid Chelate
  • 6.4 Food Grade Iron Powder Market, By Distribution Channel
    • 6.4.1 Online Stores
    • 6.4.2 Supermarkets/Hypermarkets
    • 6.4.3 Specialty Stores
    • 6.4.4 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Food Grade Iron Powder Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Food Grade Iron Powder market is categorized based on

By Product Type

• Reduced Iron Powder
• Atomized Iron Powder
• Electrolytic Iron Powder
• Carbonyl Iron Powder
• Nano Iron Powder

By Application

• Food & Beverages
• Nutritional Supplements
• Pharmaceuticals
• Infant Formula
• Others

By Distribution Channel

• Online Stores
• Supermarkets/Hypermarkets
• Specialty Stores
• Others

By Ingredient Type

• Ferrous Sulfate
• Ferric Pyrophosphate
• Ferrous Gluconate
• Ferric Orthophosphate
• Iron Amino Acid Chelate

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Heraeus Holding GmbH
• Reade International Corp.
• Omya AG
• Hawkins, Inc.
• Ferroalloy Corporation
• American Elements
• Mil-Spec Industries Corporation
• Gerdau S.A.
• Marubeni Corporation
• Iron Powder Industries LLC
• Shanghai Zhongjin Mat. & Tech. Co., Ltd.
• Hunan Jinagxin Metal Materials Co., Ltd.
• U.S. Iron and Steel LLC
• Ferrostaal GmbH
• Jiangxi Yichun Jinsha Iron Powder Co., Ltd.