Iron Oxide Pigment Market Analysis
Increasing construction spending in Asia Pacific to drive iron oxide pigment market.
The global iron oxide pigment market size was USD 1.83 billion in 2015. Growing demand in construction, paint, and plastic industries has urged the iron oxide manufacturing companies to increase their investment in this market.
Growing construction industry in Asia Pacific and the Middle East are anticipated to drive market growth over the next eight years. Favorable government regulations regarding environmentally friendly products coupled with technological advancements are expected to have a positive impact on market growth.
The raw materials used for synthetic product manufacturing include nitrobenzene and cast iron. The increasing application scope of nitrobenzene in other industries, as an intermediate to manufacture pesticides, polishes, solvents, dyes, anti-odor agent, lubricant, and synthetic rubber is anticipated to increase price of nitrobenzene for manufacturing iron oxide pigment.
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