The Global Market for Plastic Pigments (2018-2023): High Demand for High-Performance Pigments (HPPs) is Driving Growth
DUBLIN, Feb. 1, 2019 /PRNewswire/ --
The "Plastic Pigments Market by Type (Inorganic/Organic Pigments), End-Use Industry (Packaging, Consumer Goods, Building & Construction, Automotive) Region (APAC, North America, Europe, Middle East & Africa, South America) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The market size of plastic pigments is estimated at USD 10.3 billion in 2018 and is projected to reach USD 14.8 billion by 2023, at a CAGR of 7.5% from 2018 to 2023.
The growth of this market is attributed to the increasing significance of aesthetics in packaging, industrialization in emerging economies. Another factor driving the plastic pigments market is high demand for packaging in emerging countries and high demand for high-performance pigments.
However, factors, such as the volatility of raw material prices and environmental regulations are restraining the growth of the market. Most of the raw materials used in the production of plastic pigments are synthetic rutile, iron ore, and natural gas. The prices of these raw materials have been highly volatile in recent times, touching a five-year low, which has affected the growth of the market.
The organic plastic pigments type segment is projected to register the higher CAGR during the forecast period.
Organic pigments are expected to be the fastest-growing type of plastic pigments owing to increasing environmental regulations in the plastic industry. Organic pigments have superior heat stability and excellent light fastness properties. However, these can also contain metallic (inorganic) elements that help stabilize the properties of the organic components. Different types of organic pigments include azo pigments, diazo, naphthol, azo lakes, metal complex, phthalocyanine, anthraquinone, and quinophthalone.
Packaging to be the largest end-use industry of plastic pigments in terms of volume and value.
Packaging is expected to be the largest and the fastest-growing end-use industry in the plastic pigments market during the forecast period. The packaging application of plastic pigments includes food packaging, pharmaceutical packaging, and healthcare packaging. Plastic pigments are widely used in both rigid packaging and flexible packaging. The use of plastic pigments in plastic packaging not only provides an aesthetic appeal to packaged products but also helps in product differentiation, thereby influencing the preferences of customers.
APAC projected to be the largest plastic pigments market, in terms of volume, during the forecast period.
The APAC plastic pigments market is projected to grow at the highest CAGR during the forecast period, owing to the increased demand for plastics in the region, resulting from a growing middle-class population, rapid urbanization, and increasing purchasing power of consumers. The growing consumer goods and packaging end-use industries in this region fuel the demand for plastic pigments in the APAC region, thereby contributing to the growth of the plastic pigments market in the region.
The key players in the plastic pigments market include, Clariant (Switzerland), BASF SE (Germany), DIC Corporation (Japan), Huntsman Corporation (US), Cabot Corporation (US), LANXESS (Germany), PolyOne Corporation (US), The Chemours Company (US), Heubach GmbH (Germany), Tronox Limited (US), and Ferro Corporation (US).
Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Segmentation
1.4 Regions Covered
1.4.1 Years Considered for the Study
1.5 Currency
1.6 Unit Considered
1.7 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions
2.5 Limitations
3 Executive Summary
4 Premium Insights
4.1 Significant Opportunities in the Plastic Pigments Market
4.2 APAC: Plastic Pigments Market, By Application and Country
4.3 Plastic Pigments Market, By End-Use Industry
4.4 Plastic Pigments Market, By Type
4.5 Plastic Pigments Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Plastics in the Automotive Industry
5.2.1.2 Increasing Significance of Aesthetics in Packaging
5.2.1.3 Industrialization in Emerging Economies
5.2.1.4 High Demand for High-Performance Pigments (HPPs)
5.2.2 Restraints
5.2.2.1 Volatility in Raw Material Prices
5.2.2.2 Environmental Regulations
5.2.3 Opportunities
5.2.3.1 Technological Advancements
5.2.4 Challenges
5.2.4.1 Regulations Related to Plastic Recycling
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Indicators
5.5 Trends and Forecast of GDP
5.6 Plastic Industry Trends, 2016
6 Plastic Pigments Market, By Type
6.1 Introduction
6.2 Inorganic Pigments
6.2.1.1 Low Cost of Inorganic Pigments Drive the Demand
6.2.2 Titanium Dioxide
6.2.2.1 Titanium Dioxide is the Most Widely Used Pigment in the Dyes & Pigments Industry
6.2.3 Iron Oxide Pigments
6.2.3.1 Building & Construction Industry is Expected to Drive the Consumption of Iron Oxide Plastic Pigments
6.2.3.2 Natural Iron Oxide Pigments
6.2.3.3 Synthetic Iron Oxide Pigments
6.2.4 Carbon Black
6.2.4.1 Injection Molding is A Major Application of Carbon Black
6.2.5 Chromium Oxide
6.2.5.1 Automotive and Packaging End-Use Industries Drive the Consumption of Chromium Oxide
6.2.6 Cadmium Pigments
6.2.6.1 Properties, Such as Good Color, High Opacity, and Tinting Strength Drive the Consumption
6.3 Organic Pigments
6.3.1.1 High Performance of Organic Pigments is Likely to Drive the Growth During the Forecast Period
6.3.2 Phthalocyanine Pigments
6.3.2.1 Phthalocyanines Pigments is the Second-Most Important Class of Organic Pigments
6.3.3 High-Performance Pigments
6.3.3.1 Excellent Lightfastness, Heat Stability, and Resistance to Various Chemicals Drive the Use of These Pigments
6.4 Others
7 Plastic Pigments Market, By End-Use Industry
7.1 Introduction
7.2 Packaging
7.2.1 Packaging Was the Largest End-Use Industry in 2017
7.2.2 Food & Beverage Packaging
7.2.3 Healthcare & Pharmaceutical Packaging
7.2.4 Consumer Goods Packaging
7.3 Building & Construction
7.3.1 Recovering Building & Construction Industry is Expected to Drive the Plastic Pigments Market
7.3.2 Building Exteriors
7.3.3 Building Interiors
7.3.4 Others
7.4 Consumer Goods
7.4.1 Change in Lifestyles and Improved Standard of Living
7.4.2 Sports & Leisure
7.4.3 Furniture
7.4.4 Electronic Goods
7.4.5 Others
7.5 Automotive
7.5.1 Increasing Use of Plastics in the Automotive Industry is Boosting the Market
7.6 Others
7.6.1 Healthcare
7.6.2 Electronics
7.6.3 Textile
8 Plastic Pigments Market, By Region
8.1 Introduction
8.2 India to Register the Highest CAGR in the Plastic Pigments Market
8.3 APAC
8.3.1 China
8.3.1.1 Booming Plastic Industry is Contributing to the Market Growth in China
8.3.2 India
8.3.2.1 High Growth of the Packaging Industry is Propelling the Indian Market
8.3.3 Japan
8.3.3.1 Growth of Various End-Use Industries is Spurring the Market in the Country
8.3.4 South Korea
8.3.4.1 Automotive Industry is Driving the Market in South Korea
8.3.5 Rest of APAC
8.4 North America
8.4.1 US
8.4.1.1 Increasing Consumption of Plastics is A Governing Factor for the Market Growth
8.4.2 Canada
8.4.2.1 Healthcare Industry is Likely to Boost the Market in Canada
8.4.3 Mexico
8.4.3.1 Increasing Demand for Plastic Packaging is Triggering the Market Growth in Mexico
8.5 Europe
8.5.1 Germany
8.5.1.1 Increased Investments in Plastic Production are Offering Opportunities for Market Growth in the Country
8.5.2 Italy
8.5.2.1 Innovations in the Plastic Industry are Expected to Stimulate the Market Growth
8.5.3 France
8.5.3.1 Increasing Use of Plastic Pigments in Food and Beverage Packaging is A Driving Force for the Market
8.5.4 UK
8.5.4.1 Growing Plastic Manufacturing Sector is Boosting the UK Market
8.5.5 Benelux Countries
8.5.5.1 Food Packaging Industry Drives the Market in the Benelux Countries
8.5.6 Rest of Europe
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.1.1 Increase in the Number of Vehicles is Driving the Saudi Arabian Market
8.6.2 South Africa
8.6.2.1 Packaging, Building & Construction, and Automotive Industries are Driving the Market in South Africa
8.6.3 Rest of Middle East & Africa
8.7 South America
8.7.1 Brazil
8.7.1.1 Rise in the Number of Masterbatch Production Facilities is Boosting the Market in Brazil
8.7.2 Argentina
8.7.2.1 Growth of the Plastic Industry is A Driving Factor for the Market
8.7.3 Rest of South America
9 Competitive Landscape
9.1 Overview
9.2 Market Ranking Analysis of Key Players
9.2.1 BASF
9.2.2 Clariant
9.2.3 Lanxess
9.2.4 DIC Corporation
9.2.5 Sudarshan Chemical Industries
9.3 Competitive Scenario
9.3.1 Investment & Expansion
9.3.2 Merger & Acquisition
9.3.3 New Product Launch
10 Company Profiles
10.1 Clariant
10.2 BASF
10.3 DIC Corporation
10.4 Sudarshan Chemical Industries
10.5 Cabot Corporation
10.6 Lanxess
10.7 Chemours
10.8 Heubach GmbH
10.9 Tronox Limited
10.10 Ferro Corporation
10.11 Other Players
10.11.1 Atul Ltd.
10.11.2 Kronos International
10.11.3 National Industrialization Company (Tasnee)
10.11.4 Eckart GmbH
10.11.5 Dominion Colour Corporation
10.11.6 Toyocolor
10.11.7 Voxco Pigments and Chemicals
10.11.8 Habich GmbH
10.11.9 Mazda Colours Limited
10.11.10 Cathay Industries
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