ALBANY, New York, June 18, 2020 /PRNewswire/ -- Pigments Market: Current and Future Avenues
The utilization of pigments in paints and coatings formulations opens several application areas for pigments market. Revenues stem from the growing demand for pigments to meet the growing consumption of paints and coatings and inks in plastics, automotive and consumer goods, and construction industries, especially in developing regions of the world. Key attributes are coloring effect, gloss, environmental stability, tribology and optical properties.
In 2018, the global valuation of the pigments market was estimated to be US$ 30.35 bn.
Businesses from the plastics industry are constantly demanding pigments with better performance attributes, broadening the horizon of the pigments market. During the forecast period of 2019 – 2027, the pigments market is expected to rise at CAGR of ~4.6%.
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Over the years, environmental sustainability has attracted the attention of pigment manufacturers, note analysts from Transparency Market Research (TMR). They further opine that the use of nanotechnology will help expand the array of applications of pigments in various industries.
Key Findings of Pigments Market Report
- Among the various regions, Asia Pacific held the sway in 2018 in relation to its share in the global pigments market
- China leads the Asia Pacific market
- North America has been lucrative market, and the U.S. has seen the demand maturing in recent years; growth driven by vast uptake in plastics industry
- Paints and coatings is the leading contributor of revenues to pigments market; rate of consumption in developed countries tepid
- Plastics industry spurring the consumption of pigments
Explore 309 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Pigments Market (Product: Inorganic [Titanium Dioxide, Iron Oxide, Carbon Black, Chromium Compounds, Others], Organic [Azo, Phthalocyanine, Quinacridone, Others], Specialty [Classic Organic, Metallic, High performance organic, Light Interference, Complex Inorganic, Fluorescent, Luminescent/phosphorescent, Thermochromic, Others]; and End-user: Paints & Coatings, Printing Inks, Plastics, Construction Materials, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/pressrelease/pigments-market.htm
Pigments Market: Key Driving Factors and Promising Avenues
- The most veritable driver for the growth of the pigments market comes from the consumption of different types in wide range of paints, inks, and coatings formulations. Most notably, architectural paints and coatings have been key to the consumption of pigments.
- Rise in demand for plastic colorants is another key driver for growth in the pigments market
- Pigments that impart enhance aesthetics and improve stability of paints, inks, and plastics colorants in adverse external conditions, such as heat and moisture, are rising in popularity
- Over the past few years, consumers have become increasingly aware of the ecological impact of paints and coatings, both in use and in manufacturing. This has stimulated end-use industry manufacturers demand environmentally friendly pigments
- Strides in use of nanotechnology in pigment making have driven the innovations with relation to nano-pigment formulations. These have expanded the horizon of the pigments market
- The rise in demand for nano-pigment formulations in cosmetics, cathode ray tubes, ceramic pigments, and photovoltaic cells is bolstering the prospects in the pigments market. This has also helped manufacturers improve the compatibility of pigment formulations in inks, paints, and plastics.
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Key Impediments for Pigments Market Players
Stringent regulations exist in numerous countries on the health impacts of pigments, particularly from inorganic formulations. The presence of heavy metals has brought these under heavy scanner of consumers and industries alike. Azo compounds are preferred due to high technical performance. But, the impact on health impact is debatable due to the concern of their genotoxicity and carcinogenicity.
Analyze global Pigments Market's growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Pigments Market: Regional Landscape
On the regional front, Europe has seen a steady rise in uptake of pigments in various end-use industries. The growth in opportunities are driven by their application in construction and automotive industries.
Asia Pacific is a highly lucrative market, and is expected to gain share by the edn of the forecast period. Substantial consumption of various types of pigments in paints and coatings in China, Japan, and India has spurred growth of the regional market. Players in the region have in recent years come out with new pricing strategies. The regional market is also witnessing constant proclivity toward innovations.
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The pigments market can be segmented as follows:
- Inorganic Pigments
- Titanium Dioxide
- Iron Oxide
- Carbon Black
- Chromium Compounds
- Organic Pigments
- Specialty Pigments
- Classic Organic
- High-performance Organic
- Light Interference
- Complex Inorganic
- Paints & Coatings
- Printing Inks
- Construction Materials
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,
Aluminum Pigments Market - Global aluminum pigments market is projected to grow at a CAGR of nearly 6.6% between 2019 and 2027. Consumer preference for high performance aluminum pigments with attractive esthetic features has been rising significantly of late. Aluminum pigments are widely employed in the formulation of automotive paints & coatings to enhance their aesthetic properties.
Ferrous Sulfate Market - Increase in usage of ferrous sulfate in the cement industry is expected to create lucrative opportunities for the ferrous sulfate market in the near future. Ferrous sulfate is primarily used as a reducing agent in the cement industry in order to reduce chromium VI to chromium III, as chromium is known to cause dermatitis (also known as cement itch).
Sodium Cyanide Market - The application of zinc then separates cyanide from gold. This results in the formation of solid gold. The consumption of sodium cyanide per ton of ore processed has been increasing as the average content of gold has been declining gradually across the globe. This is expected to drive the sodium cyanide market during the forecast period.
Ceramic Pigments Market - Rising consumer interest toward digital decoration and ink-jet printing with eye-catching optical effects is driving the ceramic pigments market. Furthermore, enhanced lifestyle and consumer expenditure on quality products are propelling the expansion of the market.
Photochromic Pigments Market - Increasing inclination toward special eye care for children to avoid damage caused by ultraviolet rays is likely to be another factor driving the market. Expansion of the paints and coatings industry is a key factor propelling the photochromic pigments market. Demand for paints is estimated to rise from primarily two sectors: industrial and decorative.
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