New product developments and mergers & acquisitions are the key strategies adopted by the leading market players to achieve growth in the global iron oxide pigments market.
Iron Oxide Pigments Market, By Color (Red, Yellow, Black, Others), End User (Construction, Coatings, Plastics, Paper, Others), Type (Natural, Synthetic), Region (Americas, Europe, Asia-Pacific, MEA) – Global Forecast to 2021
Iron oxide pigments are powdered chemical compounds that are used to impart colors to paints. Increased demand for iron oxide pigments in various end-use industries, such as construction, coatings, plastics, and paper has led to the growth of the global iron oxide pigments market.
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New developments in the field of iron oxide pigments have led to a large number of innovations in the global iron oxide pigments market. Leading players, such as Lanxess AG (Germany), Huntsman Corporation (U.S.), and Heubach GmbH (Germany), among others are continuously indulged in the development of new and improved pigments for different applications.
Lanxess AG (Germany) is a leading player in the global iron oxide pigments market. The company is focusing on organic growth strategies to meet the growing demand for iron oxide pigments from varied industries. Lanxess has adopted the strategy of new product launches to strengthen its position in the global iron oxide pigments market. Besides, the company is also expanding its manufacturing capabilities to produce iron oxide pigments. The company has expansion plans in place for various countries, such as China, the U.S., and Canada. The addition of mixing and milling plant to its pigment plant in Ningbo, China is one such initiative taken by the company to expand its presence in the Asia-Pacific region. The company has also realized its responsibility towards environment, and as such, is engaged in the development of cost-effective and environment-friendly manufacturing processes.
BASF SE (Germany) offers diversified product portfolio, which serves a wide range of applications. The company has expanded its production capacity for alpha blue pigments in Germany to meet the growing demand for pigments. It is improving its manufacturing capabilities by adopting environment-friendly processes. For instance, the company has replaced all its fossil resources with renewable raw materials for producing dispersions for interior paints. This initiative aimed at not only improving quality and performance of the products manufactured by the company, but also providing eco-friendly colorants to its customers.
Some of the major participants operating in the global iron oxide pigments market include Huntsman Corporation (U.S.), E.I. du Pont de Nemours and Company (U.S.), Kronos Worldwide, Inc. (U.S.), Heubach GmbH (Germany), CATHAY INDUSTRIES (U.S.), and Hunan Three-ring Pigments Co., Ltd. (China), among others.
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