Iron Oxide Pigments Market Worth 2.30 Billion USD by 2021
PUNE, India, May 17, 2016 /PRNewswire/ --
The report "Iron Oxide Pigments Market by Color (Red, Yellow, Black, Others), End User (Construction, Coatings, Plastics, Paper, Others), Type (Natural, Synthetic), Region (Americas, Europe, Asia-Pacific, Mea) - Global Forecasts to 2021", published by MarketsandMarkets, The global market is expected to reach USD 2.30 Billion by 2021, at a CAGR of 4.3% from 2016 to 2021.
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Browse 74 market data Tables and 64 Figures spread through 151 Pages and in-depth TOC on "Iron Oxide Pigments Market"
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Increasing demand of iron oxide pigments from the construction sector and rapid urbanization are factors influencing the overall growth of the global iron oxide pigments market. Cosmetic industry will continue to dominate the market.
The synthetic iron oxide segment led the global iron oxide pigments market
The synthetic iron oxide segment accounted for the largest share of the global iron oxide pigments market in 2014. These pigments are widely preferred over natural pigments, due to their excellent quality and purity level. Synthetic iron oxide pigments are manufactured mainly through different chemical processes, such as precipitation, calcination, laux, and penniman. Although, natural iron oxide pigments constitute a smaller share of the market, this segment is likely to grow at the highest CAGR during the forecast period, owing to their abundance and low price.
Construction is the major end user in the global iron oxide pigments market
The construction industry segment accounted for the largest share of the global iron oxide pigments market in 2015. Increase in the number of infrastructure projects in the emerging economies, such as China and India, offers significant growth opportunities in the iron oxide pigments market.
Among end users, the coatings segment is expected to grow at the highest CAGR during the forecast period. High demand of iron oxide pigments across varied applications, such as interior and exterior coatings, industrial coatings, protective coatings, wood coatings, automotive coatings, architectural coatings, and appliances coating, is expected to drive the consumption of iron oxide pigments in this segment.
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The Asia-Pacific region led the global iron oxide pigments market
The Asia-Pacific region led the global Iron Oxide Pigments Market in 2015. Product innovations and new research & development projects as well as the increasing demand of iron oxide pigments from the construction and coatings industries have fueled the growth of the iron oxide pigments market in the Asia-Pacific region. The market in this region is projected to grow at the highest CAGR between 2016 and 2021. Inorganic pigment manufacturers in Europe are expanding their business in the Asia-Pacific region. Rising demand from end users and investments made in the construction sector are additional factors propelling the growth of the iron oxide pigments market in this region.
Key players operating in the global iron oxide pigments market include Lanxess AG (Germany), BASF SE (Germany), Huntsman Corporation (U.S.), E.I. Du Pont de Nemours and Company (U.S.), Kronos Worldwide, Inc. (U.S.), Heubach GmbH (Germany), CATHAY INDUSTRIES (U.S.), Hunan Three-ring Pigments Co., Ltd. (China), Tronox Ltd. (U.S.), and Applied Minerals Inc. (U.S.).
The global iron oxide pigments market is segmented on the basis of color (red, yellow, black, others), end user (construction, coatings, plastics, paper, others), type (synthetic, natural), and region (Americas, Europe, Asia-Pacific, and Middle East & Africa).
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