Iron Oxide Pigment Market Revenue, Growth Factors, Trends, Key Companies, Forecast To 2027
The global Iron
Oxide Pigment Market is forecast to reach USD 2.60 Billion by
2027, according to a new report by Reports and Data. The nitrobenzene and cast
iron are the raw materials used for manufacturing synthetic products. As an
intermediate for the production of polishes, pesticides, dyes, solvents,
anti-odorant agents, synthetic rubber, and lubricant, the scope of application
for nitrobenzene is increasing in other industries, expected to increase the
price of nitrobenzene for the production of iron oxide pigment. The pigments
are naturally produced in types of ores like sienna, magnetite, goethite,
ochre, umber, and hematite. They can also be produced synthetically by prime
processes such as reduction of organic compounds by iron, iron compounds
thermal deposition, and precipitation of iron salt. Large chemical
manufacturers, including Lanxess and BASF SE, have changed their focus to using
new technology to produce high-quality pigments by adopting acceptable
standards. For creating different colors in both synthetic and natural goods,
the element above is expected to have a positive impact on the businesses.
Nevertheless, strict environmental regulations against synthetic Iron Oxide
Pigment manufacturing and price volatility of raw materials are likely to
affect the growth of the Iron Oxide Pigments Market during the review period.
High demand for decorative-property
coatings in buildings and transportation infrastructure has led to the higher
penetration of red iron oxide pigments in different industries. Changing customer
tastes to more vibrant colors has driven innovation in R&D for various iron
oxide pigment applications. Rising disposable income and growing population in
the region have resulted in high demand for automobiles. Because automotive
coatings are a significant market application, request for cars is expected to
rise shortly to complement growth and development.
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Key participants include Jiangsu Yuxing Industry & Trade Co.
Ltd., Kolorjet Chemicals Pvt. Ltd., Applied Minerals Inc., Hunan Three-Ring
Pigments Co. Ltd., Huntsman Corporation, Titan Kogyo Ltd., Cathay Industries,
LANXESS AG, BASF SE, and Kronos Worldwide, among others.
Further key
findings from the report suggest
- Based on the product, natural pigment
generated a revenue of USD 0.82 billion in 2019. It projected to rise with
a CAGR of 4.1% in the forecast period due to increasing technological
advances, coupled with increased demand for environmentally friendly
products.
- The yellow color pigment expected to grow
with a CAGR of 4.3% in the forecasted period, owing to all plastics
engineering, including acrylonitrile butadiene styrene and polyamide.
- The construction sector is the major
contributor to the Iron Oxide Pigment Market. The construction area of the
Asia Pacific region is the major shareholder of the market and held around
35.2% of the market in the year 2019, owing to the high demand for the
product, particularly in concrete blocks.
- The Asia Pacific dominated the market for
Iron Oxide Pigment in 2019. The region's consistent focus on
cost-effective and innovative procedures that are adopted in the area is
driving the market. The Asia Pacific region held approximately 35.2% of
the market, followed by Europe, which contains around 27.3% market in the
year 2019.
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For the purpose of this report,
Reports and Data have segmented into the global Iron Oxide Pigment Market on
the basis of product, color, application, and region:
Product Outlook
(Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Synthetic
- Natural
Color Outlook
(Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
- Red
- Yellow
- Black
- Others
Application
Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Construction
- Coatings
- Plastics
- Paper
- Others
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Regional analysis section covers
analysis of the Iron Oxide Pigment market in the major geographies of the world
including North America, Latin America, Europe, Asia Pacific, and the Middle
East and Africa with regards to production and consumption pattern, supply and
demand ratio, import/export, revenue contribution, market share and market
size, and presence of key players in the region.
Detailed Regional Analysis Covers:
· North America (U.S., Canada, Mexico)
· Europe (U.K., Italy, Germany, France, Rest of
Europe)
· Asia Pacific (India, Japan, China, South
Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Rest
of Latin America)
· Middle East & Africa (Saudi Arabia,
U.A.E., South Africa, Rest of MEA)
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