The global iron oxide pigment market is expected to reach USD 2.67
billion by 2024, according to a new report by Grand View Research, Inc.
Significant infrastructure improvement, especially in the Middle East and Asia
Pacific, is projected to remain a major factor driving growth. Technological
advancements and significant developments in the manufacturing sectors are
expected to create lucrative opportunities for industry participants.
Chemical manufacturers including BASF and Lanxess are utilizing enhanced
technologies for manufacturing the high-quality product by following proper
industry standards. Synthetic iron oxide pigment dominated the global demand
with a net market value of USD 1.25 billion in 2015.
The segment is projected to remain the largest product segment in near
future owing to its ability to be manufactured in various colors and blends
that are used across various application segments including coatings and
cosmetics.
In depth research report on Iron Oxide Pigment
Market
Further key findings from the report suggest:
·
The global
iron oxide pigment market demand was 1,329.4 kilotons in 2015 and is expected
to reach 1,825.8 kilotons by 2024, growing at a CAGR of 3.7% from 2016 to 2024
·
The red iron
oxide pigment is anticipated to emerge as the fastest growing color segment
over the forecast period owing to high demand from the construction industry.
·
Construction
application dominated the global iron oxide pigment market and accounted for
over 45% of total market volume in 2015. The growing construction activities,
especially in India and China are expected to drive the market.
·
Asia Pacific
was the leading regional market with demand share exceeding 40% in 2015. The
region is also expected to experience superior growth compared to other regions
over the forecast period. The high growth may be attributed to the increasing
demand in construction and plastic sector.
·
The global
market is dominated by various companies that are present across the value
chain. Major players operating in the iron oxide pigment market include LANXESS
AG, BASF SE, Kronos Worldwide, Huntsman Corporation, Cathay Industries, Applied
Minerals Inc, Jiangsu Yuxing Industry & Trade Co., Ltd, Kolorjet Chemicals
Pvt. Ltd and Titan Kogyo.
Grand View Research has segmented the iron oxide pigment market on the
basis of product, color, application, and region:
Global Iron Oxide Pigment Product Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Synthetic iron
oxide
·
Natural iron
oxide
Global Iron Oxide Pigment Color Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Red
·
Yellow
·
Blends
Global Iron Oxide Pigment Application Outlook
(Revenue, USD Million, 2014 - 2024)
·
Construction
·
Coating
·
Plastic
·
Paper
·
Others
Global Iron Oxide Pigment Regional Outlook
(Revenue, USD Million, 2014 - 2024)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
·
Middle East
&Africa
·
Central &
South America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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