What is Red Hematite Market?
Red hematite is an iron oxide with a chemical composition of Fe2O3. It is one of the most abundant minerals on earth’s surface and in the shallow crust. It is a common rock-forming mineral found in sedimentary, metamorphic and igneous rocks at locations throughout the world. It is a most important ore of iron. It has a wide variety of uses such as to produce pigments, preparations for heavy media separation, radiation shielding, ballast and many other products. It is composed of 70% iron and 30% oxygen by weight in its pure form.
The market study is being classified by Type (Fines and Pellets), by Application (Steel, Pigment and Others) and major geographies with country level break-up.
American Elements (United States), ISHTAR COMPANY LLC (United Arab Emirates), African Pegmatite (Pty) Ltd (South Africa), Vale S.A. (Brazil), Arya Group (India), LKAB Minerals AB (United States), Rio Tinto (United Kingdom), BHP Billiton (Australia), Atlas Iron (Australia) and Gerdau (Brazil) are some of the key players profiled in the study.
Research Analyst at AMA predicts that Global Vendors will contribute to the maximum growth of Global Red Hematite market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Red Hematite market by Type, Application and Region.
On the basis of geography, the market of Red Hematite has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- High Demand as Ore of Iron
- Rising Demand for Wide Variety of Applications Such As Paint Industry, Polishing Compounds
Market Trend
- Growing Demand as a Gem Material
Restraints
- Fluctuations in the Prices
Opportunities
- Rising Demand for Jewelry Making
- Increasing Demand from End-User Industry
Challenges
- Heavy Taxation Policies by Governments
Key Target Audience
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations.