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The iron oxide pigment market share is expected to increase by USD 532.39 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.14%.
This iron oxide pigment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers iron oxide pigment market segmentation by product (synthetic and natural), end-user (construction, paints and coatings, foundry, industrial chemicals, and others), and geography (APAC, Europe, North America, MEA, and South America). The iron oxide pigment market report also offers information on several market vendors, including Applied Minerals Inc., BASF SE, CATHAY INDUSTRIES, Hunan Sanhuan Pigment Co. Ltd., Kronos Worldwide Inc., LANXESS AG, Titan Kogyo Ltd., Venator Materials Plc, Xinxiang Rongbo Pigment Science and Technology Co. Ltd., and Yipin Pigments GmbH among others.
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"APAC will generate growth across all the years of the forecast period between 2020 and 2025"
The increasing offshore exploration and production investments is notably driving the iron oxide pigment market growth, although factors such as the high cost of development and quality maintenance may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the iron oxide pigment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Iron Oxide Pigment Market Driver
The increasing offshore exploration and production investments is one of the key drivers supporting the iron oxide pigment market growth. The increase in the demand for energy and the depletion of onshore reserves have made oil and gas companies invest significantly in offshore oil and gas reserves. Significantly, the rising drilling activities and the high demand from the offshore rigs and floating production storage and offloading are likely to foster the demand for iron oxide pigments. These pigments are used as lubricants in oil drilling rigs and as catalysts in the petroleum industry. Moreover, global offshore oil production is mainly concentrated in a few countries such as the US, Saudi Arabia, Brazil, Norway, and Mexico. Therefore, the increasing offshore activities and construction projects are fueling the consumption of oil and gas, thereby driving the demand for iron oxide pigments.
Key Iron Oxide Pigment Market Challenge
The high cost of development and quality maintenance may hamper the iron oxide pigment market growth during the forecast period. According to the US Energy Information Administration (EIA), the global oil demand fell drastically owing to the outbreak of the COVID-19 pandemic. In October 2021, Brent crude oil spot prices rose over $83 per barrel from $38 per barrel in October 2020, owing to the recovery of the global economy from the COVID-19 pandemic in the first half of 2021. In addition, the economic scenario also plays a crucial role in having a broader outlook on the performance of the market. Moreover, the pricing structure of raw materials differs from one region to another based on the import and export tariffs. Furthermore, uncertain economic activities in the raw material markets affect the prices of raw materials and also iron oxide pigments, thereby posing a challenge to market growth.
This iron oxide pigment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The global commodity chemicals market covers companies that primarily produce industrial and basic chemicals, including, but not limited to, plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. The market excludes chemical companies that produce diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. Technavio calculates the global commodity chemicals market size based on combined revenue generated by manufacturers of industrial and basic chemicals.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the iron oxide pigment market encompasses successful business strategies deployed by the key vendors. The iron oxide pigment market is fragmented and the vendors are deploying growth strategies such as the cost of production, new product innovations, and price ability to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The iron oxide pigment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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47% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the iron oxide pigment market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rapid growth of construction, automotive, and packaging industries will facilitate the iron oxide pigment market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The iron oxide pigment market share growth by the synthetic segment will be significant during the forecast period. Synthetic iron oxide pigments are produced from basic chemicals where iron salts or iron compounds are decomposed. Iron oxide pigments are produced by precipitating iron salts and reducing the organic compounds with iron. They are mainly used in applications related to concretes, mortar, and others. Moreover, the growing construction activities and increasing investment in infrastructural developments are expected to fuel its demand during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the iron oxide pigment market size and actionable market insights on the post-COVID-19 impact on each segment.
Iron Oxide Pigment Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.14% |
Market growth 2021-2025 |
$ 532.39 million |
Market structure |
Fragmented |
YoY growth (%) |
3.10 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 47% |
Key consumer countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Applied Minerals Inc., BASF SE, CATHAY INDUSTRIES, Hunan Sanhuan Pigment Co. Ltd., Kronos Worldwide Inc., LANXESS AG, Titan Kogyo Ltd., Venator Materials Plc, Xinxiang Rongbo Pigment Science and Technology Co. Ltd., and Yipin Pigments GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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