Iron Oxide Pigments Industry Overview
The global iron oxide pigments market size is expected to reach USD 3.1 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.7% from 2021 to 2028. Iron oxide pigments are widely used in various applications such as construction, coatings, plastics, and paper. The growing construction industry across the globe, notably in the fast-emerging regions including Asia Pacific, is anticipated to fuel the demand for iron oxide pigments over the forecast period.
Red and yellow iron oxide pigments are mixed with concrete for their use in construction applications. Red iron oxide pigments led the market and accounted for more than 42.0% share in terms of revenue in 2020. This is on account of their pure hue, tinting strength, light fastness, and consistent properties. The construction application segment led the market and accounted for more than 45.0% share of the global revenue in 2020.
Iron Oxide Pigments Market Segmentation
Grand View Research has segmented the global iron oxide pigments market on the basis of product, color, application, and region:
Based on the Color Insights, the market is segmented into Red, Yellow, Black, and Blends
- Red iron oxide pigments led the market and accounted for more than 42.0% share of the global revenue in 2020.
- This is attributed to their pure hue, tinting strength, light fastness, and consistent properties, which make them highly suitable for several applications, such as paints and coatings, paper, rubber, ceramic, linoleum, wallpaper, polishing rouge, plastic asphalt, mosaic tiles, and flooring.
- Yellow iron oxide pigments are widely used in scagliola, paintings, and concrete owing to their pure and bright color, high opacity, excellent dimensional stability, and good weatherproof properties.
Based on the Product Insights, the market is segmented into Synthetic and Natural
- The synthetic product segment led the market and accounted for more than 69.0% share of the global revenue in 2020.
- The coatings industry is the major application of synthetic iron oxide pigments, particularly for exterior and industrial coatings where durability, stability, and anti-corrosive properties are crucial.
Based on the Application Insights, the market is segmented into Construction, Coatings, Plastics, Paper, and Others
- The construction application segment led the market and accounted for more than 45.0% share of the global revenue in 2020.
- The rising inclination toward aesthetically appealing products is anticipated to boost the demand for iron oxide pigments in the paper segment.
Iron Oxide Pigments Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies Profile & Market Share Insights
The market is fragmented in nature with the presence of various key players. The companies are increasingly adopting strategies, such as new product developments, production capacity expansion, agreements, and partnerships, to boost their revenue and increase their market shares.
Some prominent players in the global Iron Oxide Pigments market include:
- Huntsman International LLC
- Venator Materials PLC
- Applied Minerals, Inc.
- CATHAY INDUSTRIES
- Lanxess
- BASF SE
- KRONOS Worldwide, Inc.
- Hunan Sanhuan Pigment Co., Ltd.
- Titan Kogyo, Ltd. (Titanium Industry Co., Ltd.)
Order a free sample PDF of the Iron Oxide Pigments Market Intelligence Study, published by Grand View Research.
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