CHICAGO, Jan. 14, 2020 /PRNewswire/ -- According to the new market research report "Inorganic Pigments Market by Pigment Type (Titanium Dioxide, Iron Oxide, Carbon Black), Application (Paints & Coatings, Plastics, Inks), End-Use Industry (Building & Construction, Automotive, Packaging, Textiles), Region - Global Forecast to 2024", published by MarketsandMarkets™, the Inorganic Pigments Market is expected to grow from USD 22.0 billion in 2019 to USD 28.3 billion by 2024, at a CAGR of 5.1%. The major factors driving the inorganic pigments market include growth of the global construction sector and increasing significance of aesthetics in the packaging industry.
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Titanium dioxide is projected to lead the global inorganic pigments market during the forecast period.
On the basis of pigment type, the inorganic pigments market has been segmented into four types, namely, titanium dioxide, iron oxide, carbon black, and others. Titanium dioxide is projected to lead the global inorganic pigments market during the forecast period. The demand for titanium dioxide is the highest due to its white color. Titanium dioxide is the world's primary pigment for providing whiteness, brightness, and opacity.
Paints & coatings application accounted for the largest share in the overall inorganic pigments market in 2019.
The inorganic pigments market has been segmented on the basis of application into four categories, namely, paints & coatings, plastics, inks, and others. Among these applications, the paints & coatings application accounted for the largest market share in 2019. Growing demand for various types of coatings, such as automotive coating, industrial coating, coil coatings, floor coatings, marine coatings, and can coatings, is driving the market for inorganic pigments in the paints & coatings segment.
Inorganic pigments market in building & construction industry projected to register the highest CAGR during the forecast period.
The global building & construction industry is growing rapidly owing to the increasing focus and investments in the construction sector. Inorganic pigments improve the quality of construction materials. In the building & construction industry, inorganic pigments are used in pavers, flooring, tiling, bridges, pipe & panels, and precast walls.
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APAC is the leading inorganic pigments market.
APAC is the largest market for inorganic pigments. Industrialization, growing population, urbanization, and improving standard of living in the emerging economies of APAC are boosting the inorganic pigments market. The major end users of inorganic pigments in the region are building & construction, automotive, and packaging.
The major vendors in the Inorganic Pigments Market include Venator (UK), The Chemours Company (US), Tronox Limited (US), LANXESS (Germany), Kronos Worldwide, Inc. (US), Cathay Industries (China), Clariant (Switzerland), Ferro Corporation (US), Heubach GmbH (Germany), Lomon Billions (China), Alabama Pigments Company (US), Cabot Corporation (US), Carl Schlenk AG (Germany), Dominion Colour Corporation (Canada), DyStar (US), ECKART GmbH (Germany), Heubach GmbH (Germany), INEOS Pigments (US), Jiangsu Yuxing Industry & Trade Co., Ltd. (China), Matapel Chemicals (Indonesia), Tasnee (Saudi Arabia), Sudarshan Chemicals (India), Sun Chemical (US), Tata Pigments (India), and Zhejiang Huayuan Pigments Co., Ltd. (China).
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