ALBANY, New York, January 18, 2019 /PRNewswire/ --
Transparency Market Research (TMR) founds that the presence of large and small players is likely to shape the competitive outline of the global iron oxide pigments market. The major companies operating in this market includes E.I. du Pont de Nemours and Company, Titan Kogyo, Ltd., BASF SE, Hunan Three-ring Pigments Co., and Cathay Industries.
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TMR note that the increasing numbers of players are focusing on the expansion of manufacturing abilities. For example, Lanxess has incorporated its mixing plant to its current pigment plant and its milling in China. The companies are also showing concern towards the environment and hence various companies are focused towards manufacturing environmentally friendly products and also towards cost-effective manufacturing procedure. To this end, various manufacturers operating in this market are adopting for strategic merger and partnership in order to product cost effective product and the products which are eco-friendly in nature.
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The revenue generated by the global iron oxide pigments market is likely to touch valuation of US$1,951.8 mn by the 2025 end. The marketplace is likely to register significant growth owing to booming construction industry likely to boost demand for the iron oxide pigments market in the coming years.
Based on oxide pigments, synthetic iron oxide pigments is expected to dominate the global iron oxide pigments market. The synthetic iron oxide pigments is cheap compare to other available oxide pigments. In addition to this, the synthetic oxide pigments have excellent dispensability, non-toxic effect of iron oxide pigments and it have other various properties such as good color intensity. These are some of the factors bolstering growth of the oxide pigments across the globe.
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On the geographical front, Asia Pacific is expected to register significant growth and this is owing to increasing demand in the construction and automotive industry. The Asia Pacific market for iron oxide pigments likely to witness healthy growth owing to rapid urbanization and easy accessibility of resource in the Asia Pacific region likely to stimulate market growth.
Rapid Infrastructure Development to Drive Growth of Global Market
The growing number of construction activities and infrastructure building is fueling demand for the iron oxide pigments across the globe. The growing favorable government initiative in the developing and developed economies for the iron oxide pigments is boosting growth of this market. In addition to this, the increasing investment by government for the development of infrastructure is propelling growth of this market in the year to come.
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Stringent Regulation to Reduce Pollution May Limit Market Growth
On the flipside, the increasing number of stringent regulation in order to reduce soil pollution and strict regulation to curb emission is negatively affecting growth of this market in the near future. However, Iron oxide pigments has several beneficial properties such as it has high weather resistance, heat stability and improved durability. The iron oxide pigments has significant capability to boost mechanical and physical properties of substrate. These are some of the factors positively supporting growth of this market in the upcoming years.
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The report segments the global iron oxide pigments market as:
The global Iron Oxide Pigments market has been segmented as follows:
Iron Oxide Pigments Market - By Color Type
- Red
- Yellow
- Black
- Others
Iron Oxide Pigments Market - By Type
- Synthetic
- Natural
Iron oxide Pigments Market - By End-user
- Construction
- Paints & Coatings
- Textiles
- Inks
- Plastics
- Others
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