IRON OXIDE MARKET ANALYSIS

Market Challenges And Opportunities

Iron Oxide Market: Growth Drivers

• Expansion of the Construction Industry

Increasing construction activities in emerging countries are expected to propel growth in the market over the coming decade. Various construction firms are adopting green construction projects to initiate sustainability. Iron oxide is an environmentally friendly raw material used for construction activities. These factors are projected to push the global iron oxide market in the next decade.

• Growing Use in Paints

Iron oxide can absorb ultraviolet radiation, can stop the degradation of the base material, is inexpensive, has high purity, has strong thermal stability, and has good compatibility with other ingredients. Iron oxide also has a great concealing power to impermeability to UV rays and water solubility. It can increase the robustness of paint films and has an outstanding adhesive quality, as well as anti-rust properties, which can be used in various outdoor paint applications.

Iron Oxide Market: Market Restraints

Rising environmental concerns:

Rising environmental concerns have led to the implementation of stringent regulations associated with the manufacturing process of iron oxides across the globe. Effluents that are released during the production of iron oxides pose severe disposal concerns to manufacturers. To overcome this challenge, market players need to replace conventional methods of production with more environmentally friendly and sustainable production processes. Due to the high costs involved, this transition has led several market players to exit the industry, which impacted the supply of iron oxides worldwide. Environmental concerns and stringent regulations associated with the production process of iron oxides are restraining growth of the iron oxide market.