ΔE 15.0, loose: different enough that you should pick on purpose. Transparent Red Iron Oxide is a little darker, more muted, cooler than Lava Orange.
Not as a straight swap; see the closer alternatives below. Loose match (ΔE 15). Transparent Red Iron Oxide is a little darker, more muted, cooler than Lava Orange.
The same difference applies the other way round: Lava Orange is a little lighter, more saturated, warmer.
ΔE is the colour difference between our two swatch estimates: under about 6 is close, over about 15 is loose. Real paints also differ in finish, coverage and how they thin, so test before you commit.
See Lava Orange on the colour wheel See Transparent Red Iron Oxide on the colour wheel
All matches: Lava Orange equivalents · Transparent Red Iron Oxide equivalents