Iron is a metallic element found in approximately 5% of the earth's crust. Other two elements apart from Iron that naturally possess magnetic property are Cobalt and Nickel. However, iron is the most magnetic of all and hence its oxide is widely utilized in the production of magnets, electronic parts, audio and video tapes etc.
Iron oxide, a chemical compound made up of oxygen and iron, is one of the most common minerals found on earth. A great amount of iron oxides are also present on the planet Mars because of which it appears red and it's called the “red planet”.
Historically, the iron oxide market is known to grow at an average of 2-4% per year. Hematite is a type of iron oxide and is an important source of iron in the world. It is believed that deposits of iron oxide were created by the process of precipitation of iron from sea water during the Proterozoic Eon.
Red iron oxide powder is ideal to create pigments. The iron present in iron oxide powder turns red when it comes into contact with water or oxygen. Different pigments of red iron oxide compound are used in paint, ceramic, rubber, plastics and cosmetic industries.
Today, the prime user of red iron oxide pigment is the building material industry. It is specifically used in decorative architectural concrete as it offers combination of cost-effectiveness, durability, good tinting strength and cement compatibility. Pigments of other minerals also have these properties but their cost is much higher than iron oxide pigment.
