Ferric Oxide Market Revenue
The global ferric oxide market is projected to touch USD 2,414,382.9 million at a 4.99% CAGR between 2022-2030, reveals the new Market Research Future (MRFR) report. Ferric oxide, also known as iron oxide is an inorganic compound. It is largely used in iron industries to manufacture steel and alloys. Ferric oxide pigments have received FDA approval for usage in cosmetics. Besides, its granules are used as filtration to remove phosphates, especially in saltwater aquariums. Its other applications include jewelry, ballast, radiation shielding, amid others. Ferric oxide occurs naturally as rust and hematite or synthesized, used as a coating, mordant, and in manufacturing polishing compounds.
Key Players
Notable players profiled in the global ferric oxide market report include Karara Mining Ltd (Australia), Labrador Iron Mines (Canada), Cleveland-Cliffs Inc (US), Atlas Iron Pty Ltd (Australia), Applied Minerals Inc (US), Shree Minerals Ltd (Australia), Fortescue Metals Group Ltd (Australia), SIMEC (Australia), Carajás Mine (Vale) (Brazil), and Western Australia Iron Ore (BHP) (Australia). Industry players have adopted several strategies to stay head and shoulders above others in the competition, such as extensive RD, mergers and acquisitions, collaborations, joint ventures, strategic alliances, and others.
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Numerous factors are adding to the global ferric oxide market demand. Such factors, as revealed by the latest MRFR report, include the increasing use in steel production, widespread use of steel in consumer appliances, packaging, energy, construction, and transportation, and increasing use of ferric oxide in red pigment production used in tiles, concrete blocks, rubbers, cosmetics, papers, plastics, inks, paints, and construction materials.
On the contrary, strict government regulations about ferric oxide production and hazardous impact on human health environment are factors that may limit the ferric oxide market growth over the forecast period. Besides, the lack of experts to handle iron ore and special storage needs for powdered ferric oxide may also restrict the market growth.
Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the global ferric oxide market based on application.
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By application, the global ferric oxide market is segmented into jewelry, ballast, radiation shielding, pigments, steel production, and others. Of these, the steel production segment will command the largest share in the market over the forecast period for the increasing application of steel in numerous end use industries, namely consumer goods, building and construction, and automotive. Steel in the automotive sector is used to manufacture braking systems, steering, fuel tanks, wheels, suspension, gears, engine blocks, doors, panels, and automobile structure. Besides, the demand for steel is on the rise with the introduction of the Future Steel Vehicle that delivers complete engineered steel-intensive designs for electric cars. It is predicted to grow at a 5% CAGR followed by pigments, which is predicted to grow at a 4.7% CAGR.
Regional Analysis
By region, the global Ferric Oxide Market Revenue covers the opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, the Middle East and Africa (MEA). Of these, the APAC region will lead the market over the forecast period and is likely to grow at a 5.72% CAGR by 2030. Increasing use of ferric oxide in paints and coatings, chemicals, and medical industries are adding market growth in the region.
The ferric oxide market in Europe is predicted to hold the second-largest share over the forecast period for the high consumption of steel to manufacture automobile components.
The ferric oxide market in Latin America and the MEA will have stable growth over the forecast period.
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Table of Content
1 Executive Summary
2 Market Introduction
2.1 Scope Of The Study 16
2.2 Market Structure 16
3 Market Insights
4 Research Methodology
4.1 Research Process 20
4.2 Primary Research 21
4.3 Secondary Research 22
4.4 Market Size Estimation 23
4.5 Forecast Model 23
4.6 List Of Assumptions 24
5 Market Dynamics
5.1 Introduction 25
5.2 Drivers 26
5.2.1 Increasing Demand For Ferric Oxide In Steel Production 26
5.2.2 Growing Use Of Iron Oxide Pigments 26
5.1 Restraint 28
5.1.1 Stringent Regulations Pertaining To Mining Activities 28
5.2 Opportunity 29
5.2.1 Use Of Iron Oxide Nanoparticles In Wastewater Treatment 29
5.3 Challenges 30
5.3.1 Declining Steel Production 30
6 Market Factor Analysis
6.1 Supply/Value Chain Analysis 31
6.1.1 Raw Materials 31
6.1.2 Ferric Oxide Producers 32
6.1.3 Distribution Channel 32
6.1.4 Applications 32
6.2 Porter’s Five Forces Model 33
6.2.1 Threat Of New Entrants 33
6.2.2 Intensity Of Rivalry 34
6.2.3 Threat Of Substitutes 34
6.2.4 Bargaining Power Of Suppliers 34
6.2.5 Bargaining Power Of Buyers 34
7 Global Ferric Oxide Market, By Application
7.1 Introduction 35
7.2 Steel Production 37
7.3 Pigments 39
7.4 Radiation Shielding 40
7.5 Ballast 41
7.6 Jewelry 42
7.7 Others 43
8 Global Ferric Oxide Market, By Region
8.1 Introduction 45
8.2 North America 49
8.2.1 US 50
8.2.2 Canada 52
8.3 Europe 53
8.3.1 Germany 55
8.3.2 France 56
8.3.3 UK 57
8.3.4 Italy 58
8.3.5 Russia 59
8.3.6 Spain 60
8.3.7 The Netherlands 61
8.3.8 Belgium 62
8.3.9 Poland 63
8.3.10 Rest Of Europe 64
8.4 Asia-Pacific 66
8.4.1 China 68
8.4.2 Japan 69
8.4.3 India 70
8.4.4 South Korea 71
8.4.5 Australia And New Zealand 72
8.4.6 Thailand 73
8.4.7 Malaysia 74
8.4.8 Indonesia 75
8.4.9 Rest Of Asia-Pacific 76
8.5 Latin America 78
8.5.1 Mexico 80
8.5.2 Brazil 81
8.5.3 Argentina 82
8.5.4 Rest Of Latin America 83
8.6 Middle East Africa 84
8.6.1 Turkey 86
8.6.2 UAE 87
8.6.3 Saudi Arabia 88
8.6.4 Israel 89
8.6.5 North Africa 90
8.6.6 Rest Of Middle East Africa 91
9 Competitive Landscape
9.1 Introduction 92
9.2 Market Strategy Analysis 92
10 Company Profiles
10.1 Western Australia Iron Ore (BHP) 94
10.1.1 Company Overview 94
10.1.2 Financial Overview 95
10.1.3 Products Offering 95
10.1.4 Key Developments 96
10.1.5 SWOT Analysis 96
10.1.6 Key Strategies 96
10.2 Carajás Mine (Vale) 97
10.2.1 Company Overview 97
10.2.2 Financial Overview 97
10.2.3 Products Offering 97
10.2.4 Key Developments 98
10.2.5 SWOT Analysis 98
10.2.6 Key Strategies 98
10.3 SIMEC 99
10.3.1 Company Overview 99
10.3.2 Financial Overview 99
10.3.3 Products Offering 99
10.3.4 Key Developments 99
10.3.5 SWOT Analysis 100
10.3.6 Key Strategies 100
10.4 Fortescue Metals Group Ltd 101
10.4.1 Company Overview 101
10.4.2 Products Offering 101
10.4.3 Key Developments 102
10.4.4 SWOT Analysis 102
10.4.5 Key Strategies 102
10.5 Shree Minerals Ltd 103
10.5.1 Company Overview 103
10.5.2 Financial Overview 103
10.5.3 Products Offering 103
10.5.4 Key Developments 103
10.5.5 SWOT Analysis 104
10.5.6 Key Strategies 104
10.6 Applied Minerals Inc 105
10.6.1 Company Overview 105
10.6.2 Financial Overview 105
10.6.3 Products Offering 105
10.6.4 Key Developments 105
10.6.5 SWOT Analysis 106
10.6.6 Key Strategies 106
10.7 Atlas Iron Pty Ltd 107
10.7.1 Company Overview 107
10.7.2 Financial Overview 107
10.7.3 Products Offering 107
10.7.4 Key Developments 107
10.7.5 SWOT Analysis 108
10.7.6 Key Strategies 108
10.8 Cleveland-Cliffs Inc 109
10.8.1 Company Overview 109
10.8.2 Financial Overview 109
10.8.3 Products Offering 109
10.8.4 Key Developments 109
10.8.5 SWOT Analysis 110
10.8.6 Key Strategies 110
10.9 Labrador Iron Mines 111
10.9.1 Company Overview 111
10.9.2 Financial Overview 111
10.9.3 Products Offering 111
10.9.4 Key Developments 111
10.9.5 SWOT Analysis 112
10.9.6 Key Strategies 112
10.10 Karara Mining Ltd 113
10.10.1 Company Overview 113
10.10.2 Financial Overview 113
10.10.3 Products Offering 113
10.10.4 Key Developments 113
10.10.5 SWOT Analysis 114
10.10.6 Key Strategies 114
11 Conclusion
11.1 Key Findings 115
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