Global Pigments Market Assessment Forecasts 2022
The report on "Global Pigments Market Research Report - Industry Analysis, Size, Share, Growth, Trends And Forecast" by Decisiondatabases.com explores the market opportunities and threats along with the analyses of the market size, growth trends and forecasts. The global pigments market is segmented on the basis of product and end-user. The paints & coatings is a leading end-user segment and is expected to grow at the highest CAGR over the forecast period on account of growing worldwide demand from construction and automobile industries.
The global pigments market
is expected to witness a steep surge over the coming years on account of growing construction & automobile industry coupled with the rapid urbanization across the globe. The recovery of construction and automobile industries and economic rebound are the predominant drivers of the growing demand for pigments worldwide. Growing paints & coatings industry along with expanding plastics & printing inks industry will also boost the demand for pigments market in the near future. Increasing preference for personal care will further aid to the market’s expansion for pigments. Augmented consumption & production of plastics globally provides attractive opportunities for pigment’s vendors. Rising adoption of pigments due to its coloring effects, improving esthetics and providing weather resistance is projected to fuel its market demand over the coming years. However, stringent regulations employed to control adverse effects of pigments on health and environment could negatively influence the market growth for pigments over the forecast period. With the rising usage of nanoparticles in the manufacturing of pigments is expected to offer fresh opportunities for the manufacturers in the forthcoming years. Industrial developments, especially in emerging economies provide a substantial scope for infrastructural development, thus created a greater opportunity for the pigment industry in the forthcoming years.
Asia Pacific is a fastest growing market for pigments industry and is estimated to grow at a significant rate over the coming years owing to growing construction industries and rapid industrialization in the region. Strong demand from end-user industries such as construction, building and automobile have been driving the pigments pigment market, particularly in India, China, Malaysia, Indonesia, and Thailand. In addition, Asia Pacific also has a large number of major producers of pigments and plastics, especially in the China.
The major industry players that drive this industry include Altana AG, BASF SE, Carl Schlenk AG, Cathay Industries Group, Clariant AG, CRISTAL, DIC Corporation, Ferro Corporation, Huntsman Corporation, Ishihara Sangyo Kaisha, Ltd. (The ISK Group), Lanxess AG, Meghmani Group of Industries, Merck Group, Pidilite Industries Limited, Sudarshan Chemical Industries Limited, The Chemours Company, The Shepherd Color Company, Tokan Material Technology Co., Ltd (TOMATEC), and Tronox Limited. The global pigments market is highly competitive and fragmented in nature due to the presence of a large number of unorganized players in the market.
In June 2016, BASF has launched its colors &Effects brand, to the current pigments portfolio.
In July 2016, Merck, a leading science, and technology company, has introduced Thermaval™ pigments, an innovative product for the ceramics industry.
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