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Theplayers within the global iron oxidepigments market areconcentrating their efforts on organic growth strategies. The last few yearshave seen a heightened demand for these pigments which has resulted in playerslooking to capitalize on this trend. Many companies are also looking forexpansion of their manufacturing facilities. For instance Lanxess hasencompassed its milling and mixing plant to its existing pigment plant inNingbo, China. Companies within the market are becoming increasinglyresponsible towards the environment and therefore many of the companies areproducing eco-friendly pigments as well as making use of eco-friendly andcost-effective manufacturing processes, states Transparency Market Research(TMR) in its latest report on the global iron oxide pigments market. Keyplayers operating within the market include: Huntsman Corporation., CathayIndustries, Hunan Three-ring Pigments Co., Ltd., E.I. du Pont de Nemours andCompany, BASF SE, Lanxess AG, and Kronos Worldwide, Inc.
Accordingto TMR, the global iron oxide pigments market is will be worth US$1,951.8 mn bythe end of 2025. In terms of type, the demand for synthetic iron oxide pigmentswill be higher than natural iron oxide pigments on account of their cheaperrates, good dispersibility, and high tinting strength. In terms of colour type,the red colour pigment will be much more in demand as compared to any othercolour, followed by the yellow colour pigment.
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BoomingConstruction Sector in Asia Pacific to Drive Demand for Iron Oxide Pigments
Onthe basis of geography, the Asia Pacific will lead in the iron oxide pigmentsmarket. The region accounted for 43.5% of the market in 2017. In terms of enduser, the construction sector will be the largest consumer of iron oxidepigments. The construction industry is thriving all across the globe, andespecially in emerging economies of Asia Pacific.
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GrowingInvestments by Governments towards Infrastructure Development Fuelling Demandfor Iron Oxide Pigments
Asper a TMR analyst, “the rise in the number of construction and infrastructurebuilding activities worldwide, but especially in developing nations, is theprimary reason fuelling the demand for iron oxide pigments. The increasinginitiatives taken by governments in developing nations for urbanization is alsobenefitting the market for iron oxide pigments. The investments by governmentstowards infrastructure development will push the demand for iron oxidepigments. The demand for these pigments will also rise from the plasticindustry.
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StrictRegulations Aimed at Curbing Emissions to Pose a Challenge for Market
Ironoxide pigments have various beneficial properties such as improved colourstrength, weather resistance, chemical resistance, light stability, improveddurability, opacity, and heat stability. They also boost physical andmechanical properties of substrates. All these factors are expected to continueto boost the demand for these pigments in the years to come. On theother hand, the growing number of strict regulations aiming to curb emissionsand reduce soil pollution will impact the market in a negative manner.
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