September 09, 2022 09:04 ET | Source: Facts & Factors Facts & Factors
TOKYO, JAPAN, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Iron Oxide Pigments Market Size, Share, Growth Analysis Report By Color (Red, Yellow, Black, Others), By End-User (Construction, Coatings, Plastics, Paper, Others), By Type (Synthetic, Natural), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database. Synthetic Red Iron Oxide
“According to the latest research study, the demand of global Iron Oxide Pigments Market size & share was valued at approximately USD 2,319.40 million in 2021. The market is expected to grow above a CAGR of 4.50% and is anticipated to reach over USD 3,020.46 million by 2028.”
The report analyses the Iron Oxide Pigments market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Iron Oxide Pigments market.
The most prevalent chemical compounds that contain iron (Fe) and oxides are iron oxides; these compounds are mostly utilized in iron catalysts, pigments, ore, etc. Both natural and artificial processes can be used to produce iron oxides. In contrast to natural iron oxide, synthetic iron oxide is produced chemically using processes like the aniline process, thermal breakdown of iron salts, and precipitation of iron salts through oxidation. Hematite (Fe2O3), a red iron oxide mineral, and magnetite (Fe3O4), a black iron oxide mineral, are the sources of natural iron oxide.
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Key Insights from Primary Research
The report contains qualitative and quantitative research on the global Iron Oxide Pigments Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Iron Oxide Pigments market include:
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The increased demand for iron oxide pigment across various applications is anticipated to accelerate the expansion of the iron oxide pigment market. The need for iron oxide pigment is anticipated to increase due to the main factors, including their high strength and stability and their popularity over natural iron oxide pigments. They are utilized in paints, coatings, polymers, and construction materials in addition to their resistance to ultraviolet light and capacity to survive various meteorological conditions.
Mostly, paints and coatings for the marine, construction, automotive, and aerospace industries are made with iron oxide pigments. Iron oxide pigments will be in high demand globally due to the expansion of various end-use sectors supporting the iron oxide pigment market. Growth in the iron oxide market is anticipated to be constrained by stringent government rules governing the manufacture of materials.
During manufacturing iron oxide, hazardous effluents are generated that are bad for the environment and people's health. We predict that iron oxide production has an environmental cost that could limit the market's expansion over the projected period.
Iron Oxide Pigments Market: COVID-19 Impact Analysis
Because of COVID-19, some countries' economy and industries have been negatively impacted, and lockdowns, travel bans, and corporate shutdowns have occurred. The worldwide chemical sector is one of the key businesses that is experiencing substantial disruptions as a result of this outbreak. These disruptions include breakdowns in supply chains, the cancellation of technological events, and office closures. China is not only the largest provider of raw materials in the world, but it is also a key manufacturing hub in addition to this role. As a result, it is anticipated that a big shutdown in China will reduce the demand in the iron oxide pigment market.
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Iron Oxide Pigments Market: Segmentation Analysis
The iron oxide pigments market is segregated based on color, end user, type and region. Based on color, the market is divided into red, yellow, black and others. Among these, the red oxide pigment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on the end-user, the market is classified into construction, coatings, plastics, paper and others. In 2021, the construction industry category dominated the global market. Based on type, the market is classified into synthetic and natural. The synthetic iron oxide pigments segment dominated the market in 2021.
The iron oxide pigments market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2021, it was predicted that the Asia Pacific would lead the global market for iron oxide pigments. By expanding the use of iron oxide pigments in building and coatings, China, Japan, and India are three nations propelling the expansion of the Asia-Pacific iron oxide pigments market. Leading multinational corporations have also made large investments in the manufacturing and industrial sectors in the Asia Pacific. Additionally, the availability of inexpensive labor and the vicinity of suppliers of raw materials draw investors to the area.
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The global Iron Oxide Pigments market is segmented as follows:
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