Sales of Iron Oxide are Projected To Increase At A Healthy CAGR Of 4.1% in 2032
The global iron oxide market is anticipated to reach a value of US$ 3,775 Mn in 2032, with the market growing at an average CAGR of 4.1% from the forecast period of 2022 to 2032. Driven by escalating consumption in paints & coatings, plastic manufacturing, and construction industries, the iron oxide market is expected to reach an estimated US$ 2,525.85 Mn in 2022.
Textiles, ceramics, and other end-use industries are also
contributing to the growing demand for iron oxide in the global market. The
continuous urbanization process occurring all over the world as well as the
rapidly expanding construction industry and increasing investment in
infrastructure development amplify the consumption of iron oxides in the
forthcoming years.
Characteristics like superior chemical stability,
dispersibility, and high thermal stability, further augment the demand of iron
oxides in the paints & coatings and construction industries. An
inorganic pigment with excellent properties like good resistance to UV rays,
high thermal stability, and high dispersibility promote iron oxides’ use the
development of numerous construction materials such as cobblestone, roof tiles,
floor tiles, and concrete.
It has a remarkable chemical structure that is insoluble in
water and immune to acids & alkalinity of cement and lime. The rising
construction activities, particularly in emerging economies, will likely aid
the market growth of iron oxides in the following decade.
Different construction firms are embracing green
construction projects to create sustainability. This stimulates opportunities
for iron oxide as it is an environmentally friendly raw material that is used
for construction activities. These factors are driving the sales of the product
in the global market during 2022-2032.
Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-1254
The unique ability of iron oxide to absorb ultraviolet
radiation, stop the degradation of base material, its inexpensiveness, high
purity, strong thermal stability, and good compatibility with other ingredients
are factors that promote the adoption of iron oxide in various industrial
verticals.
Iron oxide also has a great concealing power, impermeability
to UV rays, water solubility along with great adhesive quality and anti-rust
properties. This increases the robustness of paint films and ensures the
product’s usage in a variety of outdoor paint applications.
“Rising usage of iron oxide in paint & coatings,
construction & buildings are driving the global market expansion of iron
oxide market over the forecast period,” says an FMI
analyst.
Key Takeaways:
- Rising
adoption of iron oxide in beauty and cosmetics sector to stimulate market
opportunities.
- High
costs and strict regulations may hamper the market growth.
- Paints
and coatings sector to drive the market growth in the U.S.
- Germany
will account for a 6.7% share of the iron oxide market.
- By
type, red powdered iron oxide to register high demand.
Competitive Landscape
Lanxess AG, Huntsman International LLC, Cathey Industries,
Toda Kogyo Corporation, Alabama Pigments Company, LLC, Jiangsu Yuxing Industry
and Trade Co. Ltd., Golccha Pigments Pvt. Ltd., Shenghua Group Deqing Huayuan
Pigment Co. Ltd., Tata Pigments Company, Yaroslavsky Pigment Company, and Hunan
Three-Ring Pigments Co. Ltd among others are some of the major players in
the iron oxide market profiled in the full version of the report.
Read more: https://www.futuremarketinsights.com/reports/iron-oxide-market
Comments
Post a Comment