WiseGuyReports.Com Publish a New Market Research Report On –“ Ferric Oxide Market Segment by Applications, Manufacturers, Regions and Forecast to 2025”.
PUNE, INDIA, October 15, 2019 /EINPresswire.com/ —
Ferric oxide (Fe₂O₃) is used in the iron industry in the manufacturing of alloys and steel. It is an inorganic compound also known as hematite. The Food and Drug Administration (FDA) has allowed ferric oxide pigment for use in the cosmetics. Furthermore, ferric oxide granules are utilized in the form of filtration media for eradicating phosphates in saltwater aquariums. The growing adoption in steel production is the primary driver of the global ferric oxide market. The increase in the application of steel in the key end-use industries such as transportation, construction, energy, packaging, and consumer appliances is also a crucial factor driving market growth. Steel finds usage in the manufacturing of automobile structures doors, gears, wheels, steering, engine blocks, braking systems, panels, suspension, and fuel tanks. The rising acceptance of iron oxide nanoparticles in wastewater treatment is an tremendous prospect for the players in the market. However, the stringent regulations on mining activities are expected to restrain market growth during the review period.
The Global Ferric Oxide Market is anticipated to record a CAGR of 4.99% to attain a value of USD 2,414,382.9 Million by the year 2030.The steelmaking process begins with the dispensation of iron ores, which are mainly iron oxides and include magnetite, hematite, limonite, and other rocks. As per the to the World Steel Association, the global steel industry utilizes about 2 billion tons of iron ore, 1 billion tons of metallurgical coal, and 575 million tons of recycled steel to produce 1.7 billion tons of crude steel annually. The iron-ore based steelmaking responsible for nearly 70% of the world steel production. Also, the consumption of advanced high-strength steel (AHSS) is also rising as it helps to lower the overall weight of the vehicle and boost fuel efficiency. The development of new grades of AHSS has empowered the manufacturers to lessen the overall vehicle weight by 25–39% as equated to conventional steel.
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Key Players Analysis
Carajás Mine (Vale) (Brazil), SIMEC (AustraliaShree Minerals Ltd (Australia), Atlas Iron Pty Ltd (Australia), Cleveland-Cliffs Inc (US), Karara Mining Ltd (Australia) Western Australia Iron Ore (BHP) (Australia), Applied Minerals Inc (US), ), Fortescue Metals Group Ltd (Australia), and Labrador Iron Mines (Canada) are some of the major players in the Global Ferric oxide Market.
Several macroeconomic and microeconomic factors have been taken into consideration while assessing the trigger points that could make or break the Ferric Oxide market. These pointers have been studied well against their demographic background to gauge the real scenario. Such an extensive study is needed to get a good grasp over regional markets and understand the growth pockets that can help in maximize the potential and allow the market in garnering prospects from different quarters.
The Ferric Oxide market is a fragmented one. The presence of the existing market titans and the constant influx of the new entrants are expected to make the market a highly competitive one. These companies are expected to launch their own tactical moves to get the maximum privilege. In the process, they would also assist the global market in its expansion. These strategies often include merger, acquisition, product launch, innovation, and other methods. The report has charted the current market trends as well to make a better predictive analysis. Along with these, geographic analysis of the market, to understand the socio-economic factors at play, is playing a pivotal role.
Global Ferric Oxide Market has been segmented by Application and by region. By application it is segmented into Steel Production, Pigments, Radiation Shielding, Ballast, Jewelry and Others. By region it is segmented into regions like North America (US & Canada),Europe (Germany, France, UK, Italy, Russia, Spain, The Netherlands, Belgium, Poland and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia & New Zealand, Thailand, Malaysia, Indonesia and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina and Rest of Latin America) and Middle East & Africa (Turkey, UAE, Saudi Arabia, Israel, North Africa and Rest of Middle East & Africa)
Table Of Contents – Major Key Points
• Executive Summary
• Market Introduction
• Market Insights
• Research Methodology
• Market Dynamics
• Market Factor Analysis
• Global Ferric Oxide Market, by Application
• Global Ferric Oxide Market, by Region
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Source: EIN Presswire