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The growing demand for technology-based functional coatings and colour solutions is driving the growth of the ferric hydroxide industry. The manufacturers are developing functional coatings and colour solutions in the form of specialty pigments and colourants for glass, metal, ceramic, and other substrates for a broad range of industries and applications. These products are further utilised in the building and construction, automotive, household furnishings, and appliance markets. The growing construction activities and rapid urbanisation across the emerging nations are expected to provide enhanced growth opportunities for the market expansion. Moreover, ferric hydroxide is also witnessing increased adoption in the cosmetic sector. The easy availability of cosmetic products on retail platforms like Walmart Inc (NYSE: WMT) and Amazon.com, Inc. (NASDAQ: AMZN) are further propelling the market growth.
The growth in the production capacity by the major players in the industry is further aiding the industry. In July 2018, Ferro Corporation (NYSE: FOE) announced that the company is going to expand its production facility in Girardota, Colombia, to fullfill the rising global demand for its Ultramarine Blue and Micronized Iron Oxide pigments. Such developments are expected to significantly contribute to the industry growth over the forecast period.
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The major players in the global ferric hydroxide market are Xiamen Hisunny Chemical Co., LTD, Ferro Corporation, and Cathay Industries, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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