Global Iron Oxide Market – Overview
Iron oxide is one of the most popular chemical compound that contains iron (Fe) and oxide. The compound is used in the form of iron catalysts, pigments, ores, etc. It can be produced from both natural and synthetic way. Natural iron oxide is primarily extracted from red iron oxide mineral hematite, and magnetite). Whereas synthetic iron oxide is manufactured by chemical production processes such precipitation of iron salts due to oxidation, thermal decomposition of iron salts, and aniline process.
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Global Iron Oxide Market – Notable Developments
Some of the key players in the global iron oxide market are LANXESS AG, Huntsman International LLC, Cathay Industries, Toda Kogyo Corporation, Alabama Pigments Company, LLC, Jiangsu Yuxing Industry And Trade Co., Ltd., Gotcha Pigments, Shenghua Group Deqing Huayuan, Pigment Co., Ltd, Hunan Three-Ring Pigments Co., Ltd., Yaroslavsky Pigment Company And Tata Pigments Company.
Some notable developments in the market are:
- In 2016 LANXESS completed commissioning of its inorganic pigments plant in Ningbo, (25,000 MT), with an additional facility for milling and mixing (70,000 MT); production is anticipated to commence during the first quarter of 2016.
- In April 2015 – LANXESS expanded its portfolio of iron oxide pigments by introducing the Bayferrox brand
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Global Iron Oxide Market – Drivers and Restraints
There are several factors that helping to drive the overall development of the global iron oxide market. One of the key driving factor for the growth of the global market has been the increasing demand for iron oxide pigments. These pigments have decorative concrete applications because of its cost effectiveness, cement compatibility, and durability. Thus, the growing adoption of iron oxide pigments compared to other type of pigments is helping to drive the growth of the global market during the given forecast period.
Another important driving factor for the overall development of the global iron oxide market is increasing adoption of these materials in the end use industries such as paints and coatings. These pigments are primarily used for the manufacturing of different types of coatings and paints, to serve across several different end use industries such as aerospace, automotive, construction, building, and marine, among others. Development and growth in respective end user segments is also helping to drive the overall growth of the global iron oxide market.
There are however, some factors that might impede the growth of the global iron oxide market in the coming years of the forecast period. One of the key restraining factors for the market growth has been the strict government rules and regulations regarding the production of iron oxides. Hazardous effluents released during the production of iron oxides have a negative impact on the environment as well as human health. Therefore, such environmental impact associated with the production of iron oxide is estimated to restrict the market growth of iron oxide over the forecast timeframe.
Global Iron Oxide Market – Geographical Outlook
The global iron oxide market is segmented into five key regional segments based on its overall geographical outlook. These regions are North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Of these, currently, the global iron oxide market is being dominated by the regional segment of Asia Pacific. The region accounted for over a quarter of the revenue of the global market. The growth of the Asia Pacific is primarily attributed to the increasing urbanization and extensive infrastructural development in the region. The emerging economies in Asia Pacific such as India and China are spending heavily for the infrastructural overhaul. This has helped in booming the construction and building industry. Naturally, this has had a positive effect on the iron oxide market in Asia Pacific. On the other hand, the regional segments of North America and Europe are also projected witness a promising rate of growth in the coming years of the forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.