The Asia Pacific dominated the market for Iron Oxide Pigment Market and by 2027 this market is speculated to reach USD 2.60 Billion.
FREMONT CA: The high demand in the construction, painting, and plastics industries is expected to manage the iron oxide pigment market along with beneficial government regulations concerning environmentally friendly products with technological developments. The new report by Reports and Data, noted that the global Iron Oxide Pigment Market is forecast to reach USD 2.60 Billion by 2027.
The growing demand for decorative-property coatings in buildings and transportation infrastructure has given rise to higher infiltration of red iron oxide pigments in various industries. Owing to the fact that automotive coatings are a significant market application, and to complement growth and development, requests for cars are expected to rise soon.
Iron oxide pigments are familiar for their low reactivity, superior tinting strength, low toxicity, and higher temperature stability. The construction industry segment accounts for the most important share of the global iron oxide pigments market because of the growing infrastructure development projects in the APAC region. In 2019, the natural pigment generated revenue of USD 0.82 billion which is expected to rise with a CAGR of 4.1 percent in the forecast period on account of growing technological demand for eco-friendly products. Due to all plastic engineering, comprising acrylonitrile, butadiene styrene and polyamide, the yellow color pigment is projected to grow with a 4.3 percent in the speculated period
The prime contributor to the Iron Oxide Pigment Market is the construction sector. Due to the high demand for the product, especially in concrete blocks, the Asian Pacific region is the significant shareholder of the market and has embraced nearly 35.2 percent of the market in 2019. In the same year the Asia Pacific subjugated the market for Iron Oxide Pigment. The market is being driven by the region’s constant focus on cost-effective and innovative procedures that are used in the area