Iron Oxide Market is positive with the value expected to increase at a CAGR of 4.3% during the forecast period 2015 - 2025

According to a market report published by Future Market Insights titled “Global Iron Oxide market in its latest report titled ‘Iron Oxide Market: Global Industry Analysis and Opportunity Assessment, 2014 – 2020’, the long-term outlook on the global iron oxide market is positive with the market value expected to increase at a CAGR of 4.3% during the forecast period (2014 – 2020), reaching an estimated market size valued at around US$ 1.8 Bn by 2020.

Iron oxides are commonly available chemical compounds composed of iron (Fe) and oxides. Iron oxides are mainly used in the form of iron ores, pigments, catalysts, etc. They are produced from both natural and synthetic resources and various types of iron oxides are produced in varying colours. The iron oxides represented by the chemical formula Fe2O3 are mainly red-coloured and brown-coloured iron oxides. Of the various types of iron oxides, primary iron oxides, consisting of red, black and yellow types are estimated to hold a majority share by value in the global iron oxide market.

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The iron oxide market has been analysed on the basis of product type and application. Among the product type segments, the red iron oxide segment is expected to account for over 40% of the overall consumption of iron oxide, while growing at a significant CAGR in terms of value over the forecast period. On the basis of application, the construction materials segment holds a dominant share at present and is estimated to hold a majority share throughout the forecast period. The consumption of iron oxide in paints and coatings for aesthetic purposes in architectural and automotive industries is also high. The increase in the demand for iron oxide is driven by the growing consumption of raw materials for construction activities, which are further fuelled by the burgeoning rate of industrialization and urbanization.

From a geographical perspective, Asia Pacific excluding Japan, followed by North America and Western Europe, is expected to emerge as the leading market. Asia Pacific excluding Japan, in particular, is expected to exhibit a high growth rate as well as a major share of consumption in the global iron oxide market in the future along with a CAGR higher than the global average. Increasing industrial base propelled by the consumer demand for related goods and components as well as significant investments and development of urban infrastructure projects spur the demand for iron oxide in Asia Pacific. The demand for iron oxide is also expected to be driven by industrial development in North America and Western Europe. Other regions are expected to record lukewarm growth levels in the iron oxide market during the forecast period. The iron oxide market is viewed as a high value–moderate growth market by interested stakeholders.

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Global Iron Oxide Market Dynamics

The growing construction industry output is expected to be one of the most significant drivers for the iron oxide market on a global scale. Iron oxide finds a profound rate of application in the construction industry such as in the colouring of various construction materials, including concrete blocks and bricks, ready-mixed concrete and roofing tiles. With the steady growth of the construction industry, stemming from increasing urban and civil infrastructure projects, the demand for iron oxides is expected to increase significantly. Additionally, the use of iron oxide for applications such as paints & coatings, plastics, ceramics and chemicals would necessitate its bulk consumption.

The market growth of iron oxide is additionally expected to be aided by new opportunities in applications such as water treatment and catalysts for chemical processing. This has drawn attention from market participants, who in turn are further venturing into product development towards such novel applications. For example, the iron oxide product line from Lanxess under the brand name, Bayoxide, can be used in applications such as water treatment and high-quality catalysts.

Iron Oxide Market Participants

Some of the market participants identified in the iron oxide market are Lanxess AG, Huntsman International LLC, Cathay Industries, Alabama Pigments Company LLC, Jiangsu Yuxing Industry and Trade Co., Ltd., Yaroslavsky Pigment Company, Tata Pigments Company and Shenghua Group Deqing Huayuan. Top 3 players in the global iron oxide market account for close to half of the total iron oxide production globally. Various producers of iron oxide pigments are focusing on the development of new applications to enhance their market share. For example, blends of iron oxides are finding application in golf courts. In June 2014, Lanxess AG developed a blend of organic phthalo blue pigment Levanyl “Blue G-LF” and inorganic iron oxide pigment “Bayferrox 91” for the coloration of white sand on golf courts. Alignment of business operations by reducing cyclical business segments, divesture of non-performing units to optimize scale of iron oxide production, sales and earnings of increased profits are some of the key strategies being employed by prominent market participants in the iron oxide market.

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Iron Oxide Market: Key Segment

Product Type
• Red Iron Oxide
• Yellow Iron Oxide
• Black Iron Oxide
• Orange Iron Oxide
• Brown Iron Oxide
• Green Iron Oxide

Application
• Construction
• Paints & Coatings
• Plastics
• Chemicals
• Paper & Pulp Manufacturing

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This release was published on openPR.