Iron Oxide Pigment Market

Iron oxide pigments was valued at USD 2,821 million in 2020 and predicted to grow at 4.9% CAGR during the forecast period.

Iron Oxide Pigment Market Overview

Iron oxide pigment, which may be natural or synthetic, has been used as colorants since early humans began painting on cave walls. Iron oxide pigment is a relatively low-cost material that resists color change due to exposure to sunlight and remain stable under normal ambient conditions. The leading uses of pigments are in paints, coating, and construction materials such as concrete products, mortar, paving stones, and roofing tiles.

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Major Iron Oxide Pigment Market Drivers

The factors driving the global iron oxide pigment market include the increasing construction industry growth in developing countries. In the construction industry, iron oxide is the most used pigment for producing colored and decorative concrete. Iron oxide can be used to produce a range of hues in red, brown, yellow, and black. Iron oxide pigment is an invaluable tool in the concrete and construction industry, lending earth tone hues and other beneficial characteristics to producers and users, including reduced dust, improved flowability, and reduced product loss. According to the IBEF, in the India union budget 2021, the government has given a tremendous boost to the construction sector by allocating USD 32.02 billion to enhance the transport infrastructure. Moreover, the growing uses of iron oxide pigment in the paint and coating industry are due to their high strength and excellent dispersibility. According to the USGS, in 2020, five companies, including the two producers of natural iron oxide pigment, processed, and sold around 26,000 tons of finished natural and synthetic iron oxide pigment, whereas 6% used in industrial coatings and 5% for paints and coatings.

Restraint in the Iron Oxide Pigment Market

However, stringent environmental regulations regarding synthetic iron oxide pigment manufacturing will act as restraint and hamper the market growth during the forecast period.

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Type – Segment Analysis

Based on the type, synthetic segment is expected to grow at the higher CAGR during the forecast period due to their good strength and highly stable nature. Synthetics possess resistance against UV rays and all kinds of atmospheric conditions. Synthetics iron oxide pigment is majorly used in coating industry, particularly for exterior and industrial coatings due to their high opacity and easy dispersion. For instance, Golchha Oxides Pvt Ltd. offers Golchha Iron Oxide Pigment for coating, construction, plastics, leather, and vinyl.

End-Users – Segment Analysis

Based on the end-users, the construction segment is anticipated to grow at a higher CAGR during the forecast period. Iron oxide pigment majorly used in concrete for coloring concrete construction elements, such as concrete tiling, interlocking paving, concrete roof tiling, artificial rock, and dry plaster mixes. According to the USGS, in 2020, around 46% of natural and synthetic finished iron oxide pigment were used in concrete and other construction material.
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Regional – Segment Analysis:

Based on the region, the Asia Pacific region is predicted to grow at a higher CAGR during the forecast period. The growing construction industry in the region will drive market growth. According to the International Trade Administration, China is the world’s largest construction market, with the industry predicted to expand at an annual average of 5.2% in real terms between 2021 and 2029. China recently launched the “New Infrastructure” campaign to offset the economic impact of the COVID-19 pandemic and boost sustainable growth. According to the Global Alliance for Building and Construction, Construction in Asia is booming, and by 2040 the region will contribute nearly half of all new construction in the world.

Top Market Players

Various notable players operating in the market, include, BASF SE, Golchha Oxides Pvt Ltd., Precheza, Hunan Sanhuan Pigment Co., Ltd., Lanxess, DIS Company Ltd, Cathay Industries, Raveshia Group, Huntsman International LLC., Kronos International, Inc., among others.

Key Developments:

• • In 2020, Lanxess expanded its black synthetic iron oxide pigment capacity at its Krefeld-Uerdingen site by more than 5,000 metric tons per year owing to increasing demand from the construction industry for the unique black pigment to color concrete. The company thus expanded its production capacities for synthetic iron oxide pigment.
  • In 2020, Cathay Industries expanded its iron oxide pigment production in Southeast Asia. Increased requirement for their high-quality, sustainable iron oxide pigments in the coating, plastic, and construction industries has facilitated a review of their manufacturing capacity. The expansion supports the Cathay Group’s global growth strategy, particularly its consistently high-quality CATHAYCOAT, CATHAYTHERM, FERROTINT, CATHAYGRAN product range.

Segments covered in the Report:

The global iron oxide pigment market has been segmented on the basis of type, color, end-users, and regions. Based on type, the market is segmented into natural, and synthetic. Based on color, the market is segmented into red, yellow, black and others. Based on end-users, the market is segmented into construction, coating, plastics, paper, and others.

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Market Segmentation

Global Iron Oxide Pigment Market by Type

• • Natural
  • Synthetic

Global Iron Oxide Pigment Market by Color

• • Red
  • Yellow
  • Black
  • Others

Global Iron Oxide Pigment Market by End-Users

• • Construction
  • Coatings
  • Plastics
  • Paper
  • Others

Global Iron Oxide Pigment Market by Region

• • North America Iron Oxide Pigment Market (Option 1: As a part of the free 25% customization)

    • North America Iron Oxide Pigment Market by Type
    • North America Iron Oxide Pigment Market by Color
    • North America Iron Oxide Pigment Market by End-Users
    • US Iron Oxide Pigment Market All-Up
    • Canada Iron Oxide Pigment Market All-Up

  • Europe Iron Oxide Pigment Market (Option 2: As a part of the free 25% customization)

    • Europe Iron Oxide Pigment Market by Type
    • Europe Iron Oxide Pigment Market by Color
    • Europe Iron Oxide Pigment Market by End-Users
    • UK Iron Oxide Pigment Market All-Up
    • Germany Iron Oxide Pigment Market All-Up
    • France Iron Oxide Pigment Market All-Up
    • Spain Iron Oxide Pigment Market All-Up
    • Rest of Europe Iron Oxide Pigment Market All-Up

  • Asia-Pacific Iron Oxide Pigment Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Iron Oxide Pigment Market by Type
    • Asia-Pacific Iron Oxide Pigment Market by Color
    • Asia-Pacific Iron Oxide Pigment Market by End-Users
    • China Iron Oxide Pigment Market All-Up
    • India Iron Oxide Pigment Market All-Up
    • Japan Iron Oxide Pigment Market All-Up
    • Rest of APAC Iron Oxide Pigment Market All-Up

  • RoW Iron Oxide Pigment Market (Option 4: As a part of the free 25% customization)

    • RoW Iron Oxide Pigment Market by Type
    • RoW Iron Oxide Pigment Market by Color
    • RoW Iron Oxide Pigment Market by End-Users
    • Brazil Iron Oxide Pigment Market All-Up
    • South Africa Iron Oxide Pigment Market All-Up
    • Saudi Arabia Iron Oxide Pigment Market All-Up
    • UAE Iron Oxide Pigment Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Iron Oxide Pigment Market All-Up

Major Players Operating in the Iron Oxide Pigment (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • BASF SE
  • Golchha Oxides Pvt Ltd.
  • Precheza
  • Hunan Sanhuan Pigment Co., Ltd.
  • Lanxess
  • DIS Company Ltd
  • Cathay Industries
  • Raveshia Group
  • Huntsman International LLC.
  • Kronos International, Inc.