Iron Oxide Is Fastest Growing Segment Fueling The Growth Of Iron Oxide Market
The global Iron Oxide Market is estimated to be valued at US$ 2.52 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Iron oxides have wide range of applications in paints & coatings, construction, plastics, cosmetics and other industries owing to their excellent weather resistance, corrosion protection, and heat stability properties. They are commonly used as pigments for coloring paints, coatings, plastics, and other materials. Market key trends: One of the key trends in the iron oxide market is the increasing usage of red iron oxide as a replacement for toxic and carcinogenic pigments like chrome yellow, cadmium yellow, and mercury sulfide in several applications such as printing inks, plastics, and coatings. Red iron oxide provides an excellent tinting strength and color consistency as a substitute for these hazardous pigments. It als...