Analysis of Iron Oxide Pigments market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Iron oxide pigments have been extensively used as a coloring agent since ancient times when humans used to paint on cave walls. Iron oxide pigments are a comparatively low-cost product which can resist color change due to constant exposure to sun rays.
They possess good chemical resistance and are stable under normal ambient conditions. Prominent use of iron oxide pigments lies in paints & coatings and in construction materials such as in mortar, concrete products, roofing tiles and paving stones.
Further, in plastic industries, iron oxide pigments are used as colorants for a variety of plastic products, such as vinyl sidings, food packaging, auto parts, home computers, toys, and bottles. Continued demand from these end-use products has drafted growth in the iron oxide pigments market for their coloring purpose.
As per Fact.MR estimates, global pigments market has surpassed the US$ 20 Bn marks in 2020, thus future demand for its subtype including the iron oxide pigments market will also be witnessing steady growth in the forecast period.
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Demand growth in iron oxide pigments market is mainly facilitated with constant need of coloring agent in various end use industry. Also being comparatively inexpensive than some of other coloring materials, its use and demand have been highly beneficiated.
However, use of iron oxide pigments at a larger extent on end use products are considered as an irritant to human safety. Furthermore, inhalation of iron oxides could cause unspecific lung inflammation. Thus, manufacturers of iron oxide pigments have to bear and mitigate all problems regarding hazards caused by iron oxide pigments.
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From regional perspective, East Asia holds for largest market share in global iron oxide pigments market. Advancement in product quality, innovation and developments undertaken has propounded R&D projects drawing newer sense of growth opportunity in the region.
Furthermore rapid upsurge in demand from the construction and coatings industries have driven market growth for iron oxide pigments market in East Asia. Growth movement for iron oxide pigments market in East Asia is highly supported by the investments done by some of prominent players in global market.
For instance, Lanxess has setup its iron oxide pigments manufacturing plant in Shanghai, China. Company has also made significant capacity expansion in the same plant. Thus, movement of global players to East Asia has added growth margin in the region.
Next to East Asia comes Europe, which is second largest market for iron oxide pigments. There are several deposits of iron oxide pigment in European countries such as Cyprus, France, Iran, Italy and Spain. Thus, supply of iron oxide pigments in Europe is always bit close to its current demand. Latin America & MEA region accounts minimal share in terms of supply of iron oxide pigments, however, demand is anticipated to rise steadily in upcoming years.
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Iron oxide pigments market is highly fragmented in nature, with active number of player in each region. Some of the prominent players in global iron oxide market players which have strong hold in terms of domestic supply are CATHAY INDUSTRIES, Lanxess AG, Huntsman Corporation, KRONOS Worldwide, INC., BASF SE, Hunan Three-Ring Pigments Co., Ltd, Titan Kogyo, Ltd., Jiangsu Yuxing Industry and Trade Co., Ltd., and Kolorjet Chemicals Pvt. Ltd.
Key players in iron oxide pigments market are focused towards expansions through partnerships and acquisitions. One of the key development is about to close by end of 2020, with DIC Corporation signing a deal to acquire BASF Colors & Effects Business. Similar approach has been undertaken by other players in the past five years.
The research report presents a comprehensive assessment of the Iron Oxide Pigments market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The Iron Oxide Pigments report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Iron Oxide Pigments report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Iron Oxide Pigments report also maps the qualitative impact of various market factors on market segments and geographies.
The global Iron Oxide Pigments market is bifurcated into four three segments: type, color, end use, and region.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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Global sales of iron oxide pigments are expected to increase at 5% CAGR and reach US$ 3.58 billion by 2030.
High demand for colouring agents from various end-use industries is the major factor boosting the sales of iron oxide pigments.
CATHAY INDUSTRIES, Lanxess AG, Huntsman Corporation, KRONOS Worldwide, INC., and BASF SE are key manufacturers of iron oxide pigments.
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