Latest Research Report Iron Oxide Pigments Market 2019 Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. – Market research future.com
Iron Oxide Pigments comprises iron and oxides and can be produced from both natural and synthetic sources. Naturally, Iron Oxide Pigments are derived from hematite (red iron oxide mineral), limonites (yellow or brown minerals) such as ochers, siennas & umbers, and magnetite (black iron oxide). Synthetic Iron Oxide Pigments are produced from basic chemicals by three processing methods which includes precipitation of iron salts, thermal decomposition of iron salts, and reduction of organic compounds by iron. The product finds use in numerous applications including construction, paints & coatings, plastics, paper, pharmaceuticals, and cosmetics among others.
Hunan Sanhuan Pigment Co., Ltd.(China), BASF SE (Germany), Tronox Limited (US), Venator Materials PLC.(UK), Lanxess (Germany), Applied Minerals Inc.(US), Heubach GmbH (Germany), Huntsman Corporation (US), Brenntag Specialties, Inc.(Singapore), and Cathay Industries (Hong Kong)
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The global demand for Iron Oxide Pigments is driven by expanding building and construction industry on account of increasing requirement for modern residential architecture and increasing spending on construction activities by the government. It is being widely used in numerous construction applications which includes concrete, roof tiles, soft fall rubber, bricks, blocks, pavers, and asphalt due to superior properties such as non-toxicity, inertness, opacity, uniformity of colour, and chemical resistance among others.
The Global Iron Oxide Pigments Market has been segmented by Color, Type, End-Use Industry, and Region. Based on Type, the market has been segmented into natural and synthetic. The synthetic Iron Oxide Pigments segment accounted for the largest market share in 2017 and is expected to witness significant growth during the review period. This growth can be attributed to the increasing demand in major end-use industries such as construction, pharmaceuticals, food & beverage, and cosmetics and personal care due to superior benefits offered which includes high tinting strength, consistency and high purity.
Based on Color, Red Iron Oxide Pigments segment accounted for the largest market share in 2017. Red Iron Oxide Pigments are widely preferred over yellow and Black Iron Oxide Pigments due to their superior properties such as excellent light and weather resistance, high coloring & hiding power, rust & UV resistance, and excellent pigment and chemical properties among others.
Based on End-Use Industry, the market has been segmented into, construction, paints and coatings, plastics, paper, pharmaceuticals, cosmetics and personal care, food & beverage, and others. The construction segment accounted for the largest market share on account of the increased spending in residential and non-residential construction globally. The paints and coatings segment is expected to be the second fastest-growing end-use industry as a result of the increasing demand in construction and automobile industry.
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The market in Asia-Pacific accounted for the largest share of the Iron Oxide Pigments Market in 2017 and is expected to continue its dominance during the forecast period. The expanding construction industry in developing nations such as India, China, Thailand, and Indonesia due to rising residential construction, coupled with population growth and increasing per capita disposable income, is driving the market. Initiatives taken by the Indian government such as the Smart Cities Mission and Housing for All by 2022 has led to a rapid increase in construction activities and fueled the demand for iron oxide pigments.
North America is another prominent market for Iron Oxide Pigments due to the rising demand from major end-use industries such as construction, pharmaceuticals, packaging, and cosmetics and personal care. Additionally, the growing healthcare industry with increasing spending on healthcare coupled with the expanding geriatric population is bolstering market growth.
The European market is also expected to grow on account of the expanding packaging industry with the rising demand for packaged food and beverages. Growing demand for water based coatings in the automotive industry to reduce volatile organic compounds emissions is expected to drive the market growth.
The Latin American market is expected to witness considerable growth due to the growing cosmetics and personal care industry especially in Brazil and Mexico on account of the escalating demand for cosmetics for men.
The market in the Middle East & Africa is likely to exhibit considerable growth during the review period on account of the rapidly growing industrial base in the region.
LIST OF FIGURES:
FIGURE 1 Global Iron Oxide Pigments Market Segmentation
FIGURE 2 Forecast Research Methodology
FIGURE 3 Five Forces Analysis Of Global Iron Oxide Pigments Market
FIGURE 4 Value Chain Of Global Iron Oxide Pigments Market
FIGURE 5 Global Iron Oxide Pigments Market, 2016−2023, By Country, 2017
FIGURE 6 Share Of Global Iron Oxide Pigments Market, By Country, 2016−2023
FIGURE 7 Global Iron Oxide Pigments Market Size, By Color, 2017
FIGURE 8 Share Of Global Iron Oxide Pigments Market, By Color, 2016−2023
FIGURE 9 Global Iron Oxide Pigments Market Size, By Type, 2017
FIGURE10 Share Of Global Iron Oxide Pigments Market, By Type, 2016−2023
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