Synthetic Pigments Market, Forecast to 2030 - Demand for High Performance & Advanced Technology Engineered Pigments Rising; Catering to Fast-Growing Novel End-Use Industries and Technologies

DUBLIN, Feb. 24, 2020 /PRNewswire/ -- The "Synthetic Pigments Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

The global synthetic pigments market was worth $27.55 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 11% and reach $40.84 billion by 2023.

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider synthetic pigments market, and compares it with other markets.

The demand for high performance pigments and advanced technology engineered pigments such as cool pigments, nano pigments and pigments made from superior dispersion technologies is expected to drive the synthetic pigments market. These new and advanced pigments have the capability to cater to the fast-growing novel end-use industries and technologies such as 3D-printing, automotive industry, and others. For instance, in 2017, DIC Corporation, a Japan-based chemical company launched Sunbrite Yellow 74, an azo based high performance pigment in the market. High performance pigments are becoming more affordable and their market share is expected to increase rapidly.

The growing awareness about adverse health effects of certain synthetic pigments is pushing pigments manufacturers to shift from chemical-based synthetic pigments to natural pigments, negatively impacting the market. Manufacturers are focusing on shifting from chemical pigments to natural pigments to cater to the consumer preferences for new textiles colors, which are also environmentally-friendly. Synthetic pigments also has adverse effects on the health of people and the environment due to which emerging economies are shifting to natural pigments. Several developed and developing countries have imposed a ban on the import of synthetic pigments. The use of azo pigments is banned in developing countries such as India owing to their environmental and health impacts.

Recently, there has been an increasing migration of manufacturing capacities from the West to low-cost countries in the Asia-Pacific region. This is mainly due to stringent environmental compliance in Europe and North America. Gradually maturing production technologies and the presence of strong downstream customer bases within countries such as China and India have been propelling the demand for pigments in these countries in recent years. Examples of companies that have moved their manufacturing facilities to the Asia region are Huntsman Corp, DyStar and Clariant.

DIC Corporation, a Japanese chemical company is set to acquire BASF a German based chemical company for $1.27 billion (Euro 1.15 billion) on cash and debt-free basis. Acquisition of BASF will strengthen DIC corporation in global pigments business. BASF, a largest producer of chemicals, well known for portfolio in segments such as chemicals, materials, industrial solutions, surface technologies, nutrition & care and agricultural solutions.

The synthetic pigments market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. In 2019, Asia Pacific accounts for around 45% of the market.

Major players in the market are BASF SE, Archroma, DyStar, Huntsman, Clariant, Synthesia, Cromatos, Atul, Waterside Colours, DIC Corp.

Key Topics Covered

1. Executive Summary

2. Synthetic Pigments Market Characteristics

3. Synthetic Pigments Market Size And Growth
3.1. Global Synthetic Pigments Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Synthetic Pigments Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market

4. Synthetic Pigments Market Segmentation
4.1. Global Synthetic Pigments Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Inorganic Pigments
• Organic Pigments

4.2. Global Synthetic Pigments Market, Segmentation By End Use Industry, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Paints And Coatings
• Plastics
• Printing Inks
• Textiles
• Cosmetics And Personal Care
• Others

5. Synthetic Pigments Market Regional And Country Analysis
5.1. Global Synthetic Pigments Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Synthetic Pigments Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

• Archroma
• Atul
• BASF SE
• Clariant
• Cromatos
• DIC Corp.
• DuPont
• Merck KGaA
• DyStar
• Huntsman
• Lanxess AG
• OCI Company Ltd.
• Synthesia
• The Chemours Company
• Tronox Limited
• Venator Materials PLC
• Waterside Colours

For more information about this report visit https://www.researchandmarkets.com/r/tvspo5

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