Iron oxide pigments comprises iron and oxides which can be procured from natural or synthetic sources. They are derived from limonites, hematite, and magnetite. Synthetic iron oxides are produced using reduction of organic compounds from iron, thermal decomposition of iron salts, and precipitation of iron salts. The global iron oxide pigments market report by Market Research Future (MRFR) has been compiled with latest developments, production methods, and factors & restraints for the period of 2017 to 2023 (forecast period).
Brenntag Specialties, Inc., Tronox Limited, Venator Materials PLC., Heubach GmbH, Lanxess, Cathay Industries, BASF SE, Huntsman Corporation, Hunan Sanhuan Pigment Co., Ltd., and Applied Minerals Inc. are prominent players of the global iron oxide pigments market. Novel development of products and increased capacity by setting up new production plants are new growth strategies of these players.
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The global iron oxide pigments market is expected to experience a windfall during the forecast period due to the burgeoning building & construction industry. Investments in modern designs of architectural buildings and new risks by construction companies is likely to drive the market demand. Infrastructural projects by nations to beautify their roads to attract tourists and raise profits can bode well for the market. Iron oxide pigments are being used in pavers, asphalt, roof tiles, concrete, and bricks.
The paints & coatings industry is bound to drive the demand for iron oxide pigments owing to applications in automotive, buildings, plastics, and others. It enhances aesthetics and other functional and decorative properties. On the other hand, the personal care & cosmetics industry can trigger the demand for these chemicals due to the large manufacture of soaps, deodorants, creams and lotions, shampoos, and others.
But regulations against the manufacture of synthetic pigments and fluctuating prices of raw materials can hamper market growth.
The global iron oxide pigments market has been segmented by color, type, and end-use industry.
By color, the market has been segmented into red, yellow, black, and others.
By type, the market has been segmented into natural and synthetic.
By end-use industry, the market has been segregated into cosmetics and personal care, construction, paints and coatings, pharmaceuticals, plastics, paper, food & beverage, and others.
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The global iron oxide pigments market has been studied with respect to five regions—North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA).
APAC dominated the market in 2017 and will continue its reign till 2023 owing to the burgeoning construction industry. Large infrastructural projects in Indonesia, India, China, and Thailand can drive the global iron oxide pigments market growth. Initiatives by governments such as the Smart Cities Mission can expedite the rate of construction activities and fuel the demand for iron oxide pigments.
North America is another major region for the global iron oxide pigments market due to massive demand from end-use industries of cosmetics and personal care, packaging, pharmaceuticals, and construction. The large healthcare industry with the large healthcare expenditure to upgrade or modernize the current infrastructure can fuel the market growth.
Europe can contribute to the global iron oxide pigments market growth mainly due to the packaging sector. Rising demand from the packaging industry for enticing customers towards buying foods and beverages can drive market demand. High demand for water coatings in the automotive sector to lower volatile organic compounds emissions can also fuel the market. Meanwhile, Latin America can drive global market growth due to the growing cosmetics & personal care industry in Brazil and Mexico. Finally, the MEA region can spur the global iron oxide pigments market due to rapid industrialization.
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