Iron Oxide Market

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.

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

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.