Iron Oxide Market is Projected to be Valued at over US$ 2.8 Bn by 2025

Iron oxides are chemical compounds bounded together by molecules of iron and oxygen. Iron oxides are produced by natural as well as synthetic methods. Synthetically produced iron oxides are more preferred, as they offer enhanced properties and high purity in comparison to naturally produced iron oxide. Iron oxides are widely used in construction, paints and coatings, plastics and pulp & paper industries.

Market Dynamics

Iron oxides find wide application in the construction industry both directly and indirectly. Iron oxide pigments (IOP) are used to colour various construction materials, including concrete block and brick, ready-mixed concrete and roofing tiles. Growing construction industry output is expected to be one of the most significant drivers for the global iron oxide market.

Rising environmental concerns has led to implementation of stringent regulations worldwide regarding manufacturing process of iron oxides. Effluents released during production of iron oxides pose severe disposing concerns to manufacturers. To overcome this challenge, market players need to replace conventional methods of production with more environment-friendly and sustainable production processes. Due to high costs involved, this transition has led several market players to exit from the market, which has impacted global supply of IOP.

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Over the years, intensive R&D activities have led to enhancements in physical and chemical properties of iron oxides. These products are increasingly finding wide applications across various industries such as use of iron oxide in water treatment & purification and in chemical processing as catalyst are anticipated to offer new opportunities of growth of value-added iron oxide products.

The global iron oxide market is going through a phase of consolidation due to stringent environmental regulations. The market in China is most affected in this transition, since small players are finding it difficult to adopt to changes due to high investment costs.

Product Type Analysis

On the basis of product type, the global iron oxide market is segmented into red iron oxide, yellow iron oxide, black iron oxide, orange iron oxide, brown iron oxide, green iron oxide and other blends. In 2014, the red iron oxide segment dominated the global iron oxide market and is expected to remain dominant throughout the forecast period. Yellow iron oxide and black iron oxide segments are expected to contribute significantly to the iron oxide market revenue from 2015 to 2025.

Application Analysis

On the basis of application, the global iron oxide market is segmented into construction, paints & coatings, plastics, chemicals, paper & pulp manufacturing, textile, ceramics, leather and others (fertilizers, cosmetics and rubber). In 2014, the construction industry segment dominated the global iron oxide market. Among applications, construction industry segment is expected to account for largest market share in the global iron oxide market throughout the forecast period. Strategy of iron oxide producers to develop new and niche applications for these products would further assist to increase market value of iron oxide products.

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Regional Analysis

Globally, iron oxide market is segmented into Asia Pacific Excluding Japan (APEJ), North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa and Japan.

Key Players

Key players profiled in the study of the global iron oxide market include LANXESS AG, Huntsman International Inc. Cathay Industries, Alabama Pigments Company LLC, Shenghua Group Deqing Huayuan Pigment Co LTD, TODA KOGYO CORPORATION, Jiangsu Yuxing Industry and Trade Co., Ltd., Hunan Three-ring Pigments Co., Ltd., Yaroslavsky Pigment Company and Tata Pigments Company.

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This release was published on openPR.