Iron Oxide Pigment Market Outlook (2023 to 2033)

The global iron oxide market size is estimated to be valued at around US$ 2,629.4 million in 2023. Sales of iron oxide are projected to increase at a healthy CAGR of 4.1% from 2023 to 2033. The market is expected to top a valuation of US$ 3,929.7 million by 2033. Increasing the use of iron oxides in various end-use industries is expected to boost their consumption during the assessment period.

Growing consumption of iron oxides in the construction, paints & coatings, and plastics manufacturing industries is expected to propel growth in the iron oxide market. In addition to this, iron oxide is increasingly finding uses in textile, ceramics, and other end-use industries, which is further expected to propel growth in the iron oxide market.

Besides, the rapid expansion of the construction industry, ongoing urbanization, and increasing investment in infrastructure development are set to drive the consumption of iron oxides in the upcoming decade. Iron oxide has various properties such as excellent chemical stability, dispersibility, and high thermal stability, which are propelling their demand in the paints & coatings, and construction industries. The USA remains a key consumer in the iron oxide market across the globe.

Top 2 Trends Pushing Sales of Iron Oxide

Expansion of the Construction Industry

Iron oxide is an inorganic pigment and has excellent features such as good resistance to UV rays, high thermal stability, and high dispersibility. Owing to these properties, it is used in the development of numerous construction materials such as cobblestone, roof tiles, floor tiles, and concrete. It has a unique chemical structure that is insoluble in water and resistant to acids & alkalinity of cement and lime.

Increasing construction activities in emerging countries are expected to propel growth in the market over the coming decade. Various construction firms are adopting green construction projects to initiate sustainability. Iron oxide is an environmentally friendly raw material used for construction activities. These factors are projected to push the global iron oxide market in the next decade.

Growing Use in Paints

Iron oxide can absorb ultraviolet radiation, can stop the degradation of the base material, is inexpensive, has high purity, has strong thermal stability, and has good compatibility with other ingredients. Iron oxide also has a great concealing power to impermeability to UV rays and water solubility. It can increase the robustness of paint films and has an outstanding adhesive quality, as well as anti-rust properties which can be used in various outdoor paint applications.

Which Factors May Hamper the Demand for Iron Oxides?

Rising environmental concerns have led to the implementation of stringent regulations associated with the manufacturing process of iron oxides across the globe. Effluents that are released during the production of iron oxides pose severe disposal concerns to manufacturers. To overcome this challenge, market players need to replace conventional methods of production with more environmentally friendly and sustainable production processes.

Due to the high costs involved, this transition has led several market players to exit the industry, which impacted the supply of iron oxides worldwide. Environmental concerns and stringent regulations associated with the production process of iron oxides are restraining growth in the iron oxide market.

Which is the Highly Preferred Type of Iron Oxide?

Demand for Red Powdered Iron Oxide to Grow in the Next Decade.

Red iron oxide is one of the most important minerals and it is used in various applications such as cement, concrete, pavers, blocks, flooring, roofing tiles, plastics, and rubber. Many colored bricks are produced every year by using red iron oxide.

Red iron oxide is also used in glasses for providing red coloring and UV protection, which are important for residential, commercial, automotive, and architectural use. Red iron oxide is further used in acrylic paints, watercolor paints, and oil-based paints. It is also used as a primer for wood and metal as it creates a solid layer to eliminate rust.

Why does the Iron Oxide Market Thrive Under Construction Industry’s Control?

Rising Infrastructure Projects Fuel Iron Oxide’s Surge via Construction Sector

The dominance of the construction industry in the market is attributed to its high demand for pigments in construction materials. Iron oxide pigments are widely used in the construction industry to add color and enhance the visual appeal of various construction materials, such as concrete, bricks, tiles, pavers, and coatings. The vibrant and durable colors provided by iron oxide pigments make them a popular choice for architects, builders, and manufacturers.

The construction industry has been experiencing significant growth in many regions around the world. Rapid urbanization, population growth, and infrastructure development projects have contributed to the increased demand for construction materials, including those incorporating iron oxide pigments.

Iron oxide pigments are known for their high durability and resistance to fading, even in harsh weather conditions. They are also considered environmentally friendly compared to some synthetic pigments, which adds to their appeal in the construction sector, where longevity and sustainability are essential.

Iron oxide pigments are relatively cost-effective compared to some other colorants and pigments. This makes them a practical choice for construction companies looking to balance cost and quality. Iron oxide pigments are available in various colors, from reds, yellows, and browns to black and green shades. This versatility allows construction companies to choose pigments that suit their design and aesthetic requirements.

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