Pune, India, April 2021, MRFR Press Release/Market Research Future has published a cooked research report on the Global Iron oxide Pigments market.
Market Research Future will be publishing a cooked research report on the “Global Iron Oxide Pigments market” that contains information from 2023 to 2030. The global Iron oxide Pigments market is expected to register a CAGR of 5.1% during the forecast period, 2023–2030.
Market Research Future (MRFR) recognizes the following companies as the key players in the global Iron oxide Pigments market: DIC Corporation (Japan), LANXESS (Germany), Huntsman Corporation (Belgium), Heubach GmbH (Germany), Cathay Industries (China), Hunan Sanhuan Pigment Co., Ltd. (China), Venator Materials PLC.(UK), Jiangsu Yuxing Industry & Trade Co. Ltd (China), Titan Kogyo, Ltd (Saudi Arabia), and Golchha Oxides Pvt Ltd (India).
The global iron oxide Pigments market is estimated to be valued at USD 4.9 Billion by 2030 and register a CAGR of around 5.1% during the forecast period.
The global iron oxide pigments market is expected to witness a surging growth in the coming assessment period owing to its widespread usage in diverse end-use industries including construction, paints & coatings, and plastics. The growth is mainly attributed to their extensive properties such as good chemical resistance, stability under ambient temperature, and durability. New developments in synthetic iron oxide pigments, emergence of nano-sized materials, and widening scope of applications are expected to support the global market's growth during the forecast period. However, factors such as regulations on mining activities and volatile raw material priceshampers the growth of the market. Nevertheless, increasing adoption of iron oxide pigments in diverse applications and continuous expansion by key manufacturers is likely to bring lucrative opportunity for the growth of the market in the forecast period.
According to MRFR analysis, the global Iron oxide Pigments market has been segmented based on type, color, end-use industry, and region.
Based on type, the global Iron oxide Pigments market has been segmented into natural and synthetic. The synthetic iron oxides segment accounted for the largest share of over 80% in the global market in 2019. The growth is attributed to increased adoption of synthetic iron oxide pigments in the components of electrical and electronics, paints and coatings, medical and industrial equipment. Further, it is also expected to gain traction in the coming years with CAGR around 5.1% from 2023 to 2030.
Based on color, the global Iron oxide pigments market has been segmented into red, yellow, black, and others. The red iron oxides segment accounts for largest share of over 40% in the global market in 2019. The growth is attributed to its pure hue, consistent properties, and tinting strength. Further, yellow iron oxide pigment is expected to register fastest growth with a CAGR of over 5% in the forecast period.
Based on end-use industry, the global market has segmented into construction, paints & coatings, plastics, paper, pharmaceuticals, cosmetics and personal care, food & beverages, and others. The construction segmentaccounted for the largest market share of around 50% in the global market in 2019. The growth is mainly attributed to the growing consumption of iron oxide pigments in construction industry in application such as concrete products, mortar, paving stones and roofing tiles. However, paints & coatings is expected to witness a healthy CAGR of over5.5% between 2023 and 2030.
Geographically, the global Iron oxide Pigments market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As per MRFR analysis, the Asia-Pacific region dominated the global market, accounting for the largest share of around 45%in 2019 and is expected to register a CAGR around 6% during the forecast period. The market growth can be attributed to the fast-paced industrialization and urbanization in emerging economies such as India, China, Thailand, and Malaysia.Asia-Pacific is followed by Europe, whichaccounted for the second-largest share of the global Iron oxide Pigments market in2019 and recorded the moderate growth with CAGR over 3.5% over the forecast period. The North America region is expected to witness significant growth, with CAGR around 3% over the forecast period. Latin America and the Middle East and Africa markets are likely to witness healthy growth with CAGR around 4.5% during the forecast period, 2023–2030. The growth in this region is mainly due to the presence of huge infrastructural hub and increasing industrial industrialization.
Key Findings of the Study: