Iron oxides and Hydroxides Market: Overview
Iron oxide is a natural chemical compound which is found in 5 % of the earth’s crust. Iron oxides and hydroxides are naturally occurring pigments ranging from yellow, red, black and brown colors. These pigments can also be produced synthetically in laboratory. Iron oxides and hydroxides are the outcome of various aqueous reactions under different pH and redox conditions. They absorb ultra violet radiations of the sun and possess an excellent hiding power which makes them ideal ingredient for paints. Hiding power is the ability of any substance to completely hide or cover the surface. These pigments are non-toxic, weather resistant and relatively inert. Iron oxide and hydroxides are paramagnetic materials unlike iron, which diversifies the scope of their applications. This property makes them useful for removing arsenic from water and water resources. From the past few decades they are being widely used for various magnetic applications such as catalysis, ferrofluids, magnetic recording devices and magnetic refrigeration systems. Synthetic iron oxides and hydroxides pigments are stronger than the natural ones. The natural pigments contain impurities which reduce their efficiency that’s why synthetic pigments are preferred. Medicines prepared from combination of iron oxides and carbohydrates possess biopharmaceutical and physiochemical characteristics.
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Iron oxides and Hydroxides Market: Market Dynamics
There is increase in types of drugs manufactured for the treatment of anemia from iron oxides and hydroxides nanoparticles (INPs). The growth of iron oxides and hydroxides is fueled by the growing demand for paints due to infrastructure development across the globe. The growing demand for colored leather accessories and apparels is resulting in larger production of iron oxides and hydroxides especially of red and yellow. Iron oxide and hydroxide market is also driven by the demand of steel and steel products around the globe.
The growth of iron oxide and hydroxide market is affected by its negative impacts on ecosystem and environment. Iron oxides and hydroxides bind with specific cells in the human body and cause damage. Nano toxicity, magnetic dangers, ecological imbalance are the restraining forces which affect the growth of iron oxides and hydroxides market.
The iron oxide and hydroxide nanoparticles are used to purify water by removing heavy metal particles from the water. With the advancement in the branch of nano medicine, nanoparticles of iron oxides and hydroxides are being widely used for critical treatments.
Transparent iron oxides and hydroxides pigments are used for coating automotive mirrors and glasses, these provides enhanced transparency which accentuates coating effects. Color concept solutions for architects, manufacture of anticorrosive pigments are the trending applications of iron oxides and hydroxides market.
Iron oxides and Hydroxides Market: Segmentation
The iron oxide and hydroxides market can be segmented on the basis of color.
It can also be segmented on the basis of end use industries:
- Paints and coatings
Iron oxides and hydroxides market can also be segmented on the basis of type of product:
It can also be segmented on the basis of its applications:
- Mining and mineral processing
Iron oxides and Hydroxides Market: Segmentation Overview
The yellow colored iron oxide and hydroxide is widely used in the manufacture of concrete colorants, enamels, paper, plastics, rubber and other applications. Iron oxides and hydroxides disperse well in aqueous and solvent systems, they are also compatible to be used in a wide range of automobile applications. Iron oxides and hydroxides are ideal additives for the cosmetic products because they are water repellant and impart various colors. They are key ingredients in products such as colossal, eye shadows, mascara, foundation and lipsticks. Synthetic yellow and red iron oxides and hydroxides are used for mosaic flooring and color flooring. Body of vitrified tiles, pigmented mulch for orchards and gardens, cattle feed, brake linings, food colors, water treatment, coloring of paper, polishing colors are other important applications of iron oxides and hydroxides. It is because these colors do not fade with time and repel UV radiations.
Iron oxides and hydroxides nanoparticles are used for Magnetic Resonance Imaging (MRI) for diagnosis of various diseases. They are used as gene carriers and drug carriers for gene and drug therapies respectively. These nanoparticles are also used as therapeutic agents for cancer treatments which are hyperthermia based. Iron hydroxide is used for intramuscular treatments to reduce iron deficiencies.
Iron oxides and Hydroxides Market: Regional Outlook
The global iron oxides and hydroxides market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). APEJ holds the major market share in terms of production. This is attributed by large production of iron oxides and hydroxides in countries such as Australia and China. Followed by APEJ are North America and Europe. APEJ and MEA hold major market share in terms of consumption of iron oxides and hydroxides, which is attributed by the rapidly growing cosmetic, healthcare and manufacturing sectors. North America and Europe have huge market share in terms of consumption because of large number of water treatment and purifying plants.
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Iron oxides and Hydroxides Market: Prominent Players
Some of the prominent players in the global iron oxides and hydroxides market are:
- Applied Minerals Inc.
- Heubach Color
- Huntsman Corporation
- KRONOS Worldwide, Inc.
- BASF SE
- Cathay Industries
- Tronox Limited
- The Dow Chemical Company
- Zenimac Exim
- Harold Scholz & Co. GmbH