SAN FRANCISCO, Nov. 17, 2020 /PRNewswire/ -- The global pigment dispersion market size is anticipated to reach USD 29.5 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 3.9% from 2020 to 2027. Growing demand for colored packaging material, which plays an important role in product presentation along with influencing the buying behavior of consumers at the point of sales. As a result, the demand for pigments in packaging is projected to increase over the forecast period. Pigment dispersions and dyes are used in printing inks for printing texts, images, and designs on clothes, packaging labels, etc.
Key suggestions from the report:
The market was valued at USD 26.2 billion in 2019 and is estimated to register a CAGR of 3.9% from 2020 to 2027
The inorganic product segment led the market in 2019. Inorganic pigment dispersion is more economical than organic pigment dispersion and offers easier dispersion properties on various substrates owing to its smaller particle size
Coatings was the largest application segment in 2019. Due to the growing number of green building construction projects, organic pigments used in coatings are anticipated to have a considerable demand
Inks application segment is estimated to register the fastest CAGR from 2020 to 2027 owing to high demand for pigment dispersion ink, which provides better coloring to the printing ink as compared to dyes
Led by China, Asia Pacific was the largest regional market in 2019 and is projected to maintain its leading position throughout the forecast period.
Recent developments in digital printing including creasing, digital carton cutting, and other completion technologies are contributing to the increased potential for pigment dispersion in printing applications. Digital printing is used in various packaging solutions, such as corrugated & flexible packaging and folding car kilotons, which are experiencing growth trends and are anticipated to eventually drive product demand over the forecast period. Various paper, plastic, and paperboard materials are used based on their applications in food packaging. Foods, such as breakfast cereals, require multi-layer packaging to keep the product crisp throughout its shelf life.
The exposure of food items to oxygen leads to oxidation and, in turn, results in food spoilage. Polyethylene is combined with paperboard, which acts as a barrier to oxygen and prevents the oxidation of food products. In addition, the attractive appearance of packaging while maintaining the freshness of food items is another challenge for food manufacturers. Thus, pigments that suit a wide array of plastic and paperboard materials as well as impart an attractive color are likely to have high demand.
Grand View Research has segmented the global pigment dispersion market on the basis of product, application, and region:
Printing Inks Market– The global printing inks market size was valued at USD 16.46 billion in 2016. The market is driven by demand from applications and consumer-specific formulations.
Spray Adhesives Market– The global spray adhesives market size was estimated at USD 5.03 billion in 2016. Asia Pacific, North America, and Europe have been the key consuming regions of the product for the past few years.
Denim Finishing Agents Market– The global denim finishing agents market size was estimated at USD 1.19 billion in 2016. Increasing use of specialty formulations for manufacturing denim products including jeans, jackets, bags, trousers, and accessories has escalated the production of finishing chemicals.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.