Iron oxide is most commonly used as coloring pigment for building materials, paints and coatings. All ores of iron are present naturally as oxides of iron. Common rust is also iron oxide. Iron oxide is also produced synthetically to control the properties and impart certain characteristics to the oxide synthesized.
The recovering construction and building materials market is expected to drive the global demand for iron oxide in the coming years. Additionally, the rapidly expanding paints and coatings market is also anticipated to aid the growth of the market. New applications of the iron oxide powders are projected to bring future prospective demand.
Iron oxide market can be segmented, on the basis of end-user industries, into five key segments as building materials, paints & coatings, plastics, chemicals and others. Others segment includes fertilizers, cosmetics, rubber and many more. Building materials was the largest segment accounting for about half of the total market. Paints and coatings is expected to be the fastest growing end user segment over the forecast period. Iron oxide has gained significance owing to their tinting strength, consistent features and pure hue. Iron oxide is used as pigment for imparting red, orange, yellow, brown and black hues to the material.
Recovering residential construction activities in the developed regions of North America and Europe is expected to drive demand for building materials, which in turn is expected to aid the growth of iron oxide market, in these regions over the coming years. High industrial and construction activities in Asia Pacific are expected to further add to the iron oxide market growth.
Some of the players in the iron oxide market include Babak Powder, Huzhou Huaman Chemical Industry Co. Ltd., Indian Industrial Udyog, Rockwood Pigments NA Inc., DCW Ltd., Shlok Enterprise, Cathay Industries Australasia Pvt. Ltd., Laxmi Trading Company, and Wuhan Mengdifu Chemicals Co. Ltd., among others.
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