Predominant consumption by the construction and paints & coatings industries will drive revenues in the global ferric hydroxide market. As suggested by a recently published Persistence Market Research (PMR) study, ferric hydroxide would be representing a US$ 1 Bn global market towards the end of 2029. The growth of market has been projected at a promising 5% CAGR over 2019 – 2029. Yellow iron oxide will predominantly witness higher demand from the construction industry, as it is widely used in the manufacturing of concrete materials.
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Notable Insights – Ferric Hydroxide Market Study
Key players operating in the ferric hydroxide industry have a strong focus on manufacturing yellow iron oxides amongst all ferric hydroxide-based products. Stringent regulations have been implemented for manufacturing yellow iron oxide; hence, players are continuously focusing on using advanced technologies to minimize adverse environmental impact.
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Superior Characteristics of Granulating Iron Oxide
A wide range of applications of ferric hydroxide-based products/materials such as yellow iron oxides and synthetic granules of ferric hydroxide, are shaping market growth positively. Many manufacturers are developing and offering granulating iron oxide as it has significant benefits over the powder form. Players are focusing more on a product development strategy to sustain their positions in the highly competitive market.
Who Is Winning?
Ferric hydroxide market is fairly fragmented, as a large number of players are offering products for diverse applications. Key manufacturers such as BASF SE, LANXESS, Ferro Corporation, Huntsman Corporation, Cathay Industries, Yipin Pigments, Applied Minerals, INC., and others account for about 30% of the overall market share. In the current scenario, North America and East Asia are anticipated to account for a significant share of the global ferric hydroxide market, owing to expanding construction and paints & coatings industries.
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