Iron Oxide Pigment Market – Global Industry Analysis And Forecast (2022-2029)

Iron Oxide Pigment Market was valued at US$ 2.3 Bn. in 2021. The Iron Oxide Market size is expected to grow at a CAGR of 4.7 % during the forecast period.

Iron Oxide Pigment Market Overview:

Iron oxide pigments are permanent colored pigments used in constructions, industrial coatings, paper, fertilizers, and plastics. The market is expected to grow during the forecast year owing to increase in demand of infrastructure development, progress in urbanization, growth in end use industries such as fertilizers, textiles, papers and plastics. The fluctuations in exchange rates and raw materials prices are restraining the market growth. The report segment the iron oxide pigment market based on type, color, end use industry and geography. Based on the type of segmentation, the market is segmented into natural and synthetic. The report is further subdivided by end use industries such as coatings, construction, paper, plastic and textiles. The Asia Pacific region is anticipated to dominate the iron oxide pigment market, followed by North America and Europe with strategic developments such as product launches & constructions, increased R&D activities in plastics and other industries.

Iron Oxide Pigment Market Dynamics:

Increased usage of iron oxide pigments in building applications such as concrete, roof, tiles, bricks and blocks is anticipated to be one of the major drivers driving the global market’s growth. Iron oxide pigments are becoming more popular as a result of globalization, urbanization, and greater governmental and private investment. In addition, its excellent dispersibility and high strength, the various types of paints and coatings under extreme atmospheric and weather conditions increases the demand. Iron oxide pigment are commonly used in a variety of plastic products such as automotive parts, fenders, soda bottles, food packaging, toys and also used as colorants in the products. The global market is also driven by extensive application in the plastic and cosmetics industry. In addition to this it is widely increased in the use of variety of industries like petroleum industry, oil drilling rigs, hydrogen sulphide removal and hydrogen gas production.

Market growth is expected to be hampered by the issues such as mining laws and volatile raw material prices. Stringent environmental regulations have impacted the production of synthetic iron oxide pigment so it is anticipated to hinder the growth of the market. Due to political instability in oil producing countries such as Saudi Arabia, Iraq and other countries in Middle East, product price have fluctuated drastically. Social and consumer insecurity in Nigeria, Iraq, Venezuela, Iran and Libya have recently negatively impacted the oil supplies. Increased demand for nitrobenzene, an important raw material used in a variety of applications such as lubricants, pharmaceuticals, synthetic rubber and dyes is expected to push up its price and impact the cost of producing iron oxide pigments during forecast period.

An increase in manufacturing focused on the development of next generation of iron oxide is expected to drive market growth during the forecast period. A variety of iron oxide red pigment  is meeting the growing demand of paint and coating industry. With the increasing number of infrastructure projects around the world, the demand for various mixtures of iron oxide pigments is increasing and expected to boost the growth of the iron oxide market. In addition, due to stringent environmental regulations around the world, manufacturers are focused on implementing environmentally friendly process for producing pigments. As a result, these factors are driving the iron oxide market growth.

Iron Oxide Pigment Market Segment Analysis:

Based on Type, the Iron Oxide Pigment Market is segmented into synthetic product segment and Natural product. The synthetic iron oxide pigment is anticipating to lead the market accounting for more than 80% of global sales and expected to register a CAGR of 4% during forecast. The segment growth is attributed high purity and tinting strength. Synthetic iron oxide pigment is manufactured through different chemical process calcination, precipitation which make it high strength and excellent stability. It is used in the coating industry especially for exterior and industrial coatings where durability, stability and corrosion resistance are important. Increasing demand for coatings form various industries such as construction and oil & gas is expected to have a huge impact on the demand for synthetic iron oxide pigment during forecast period.

Based on Color, the most widely used colors of the iron oxide pigment  include red, yellow, black, and other colors. These pigments offer superior tinting strength, purity and colour consistency, and are widely used for different applications. Red iron oxide pigments dominated the market accounting for 40% in 2021. They are used in the manufacturing of paints, gold polish, plastics, flooring and papers. Wide availability and its growing demand for these pigments from various end users is expected to drive the consumption of red iron oxide pigments globally. Because of its pure and vivid hue, high opacity and outstanding stability yellow iron oxide pigments are expected to grow fast with CAGR of 5% in forecast period and is commonly employed in paintings and concrete.

Based on End User Industry, the global market has segmented into construction, paints & coatings, plastics, papers, personal care, pharmaceuticals, cosmetics, food & beverages etc. The construction segment accounts for the largest share of 50 % in global market and expected a CAGR of 4% from forecast period. It is anticipated that paints & coatings witness fastest growth during forecast period owing to the increase demand of iron oxide manufacturers also comes from the coatings industry where pigments are utilized for exterior and interior industrial coating applications.

Iron Oxide Pigment Market Regional Insights:

The global iron oxide pigment  market is divided into region into Asia Pacific, Europe, North America, South America, Middle East and Africa. The Asia pacific market is anticipated to have the largest share of more than 45% of the global iron oxide pigment market in forecast period due to its high demand for iron oxide pigments, end use industries and its growth in this region. In addition, the Asia Pacific region recorded the fastest growth in the world during the forecast period with a CAGR of 6%. This market growth is expected due to the rapid industrialization and urbanization of emerging countries such as India, China, Thailand and Malaysia.

Europe region held market share of 25% in 2021. The growth in this region is mainly due to established presence of major end use industries and the presence of advanced technology.

North America accounts for 20%of the global share and expected a CAGR of 3%.it is mainly attributed due to the presence of large scale industries, heavy investments in R&D it boosts the demand of iron oxide pigment in this region.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Iron Oxide Pigment Market dynamic, and structure by analyzing the market segments and projecting the Iron Oxide Pigment Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Iron Oxide Pigment Market make the report investor’s guide.

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Iron Oxide Pigment Market by Region

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

Iron Oxide Pigment Market Key Players:

• Jiangsu Yuxing Industry & Trade Co, Ltd 

• E.I. Du Pont de Nemours and Company

• Hunan Three-ring Pigments Co, Ltd

• Kolorjet Chemicals Pvt Ltd • Huntsman Corporation

• Kronos Worldwide

• Applied Minerals

• Cathay Industries

• Titan Kogyo, Ltd

• Heubach GmbH

• Tronox Ltd

• Lanxess AG

• BASF SE

• Venator Materials PLC

• DIC Corporation

• Heubach GmbH

• Golchha Oxides Pvt Ltd

Frequently Asked Questions:

1] What segments are covered in the Iron Oxide Pigment Market report?

Ans. The segments covered in the Iron Oxide Pigment Market report are based on the Product Type, Colors, and End User Industry.

2] Which region is expected to hold the highest share in the Iron Oxide Pigment Market?

Ans. The Asia Pacific region is expected to hold the highest share in the Iron Oxide Pigment Market.

3] What is the market size of the Iron Oxide Pigment Market by 2029?

Ans. The market size of the Iron Oxide Pigment Market by 2029 is expected to reach nearly US$ 3.32 Bn.

4] What is the forecast period for the Iron Oxide Pigment Market?

Ans. The forecast period for the Iron Oxide Pigment Market is 2022-2029.

5] What was the market size of the Iron Oxide Pigment Market in 2021? Ans. The market size of the Iron Oxide Pigment Market in 2021 was valued at US$ 2.3 Bn.

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