Press release
How big is the Pigments Market in the Asia Pacific? | Growth analysis by prominent key players - Merck Group, BASF, Pidilite Industries Limited, Cristal, Clariant, LANXESS, Tronox, Carl Schlenk AG, Ferro Corporation, Tokan Material Technology Co., Ltd., H
Pigments Market
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Pigments Market is expected to reach USD 18.98 billion according to this new research report. The pigments Market will be majorly driven by the demand from the end-use industries such as: paints & coatings, construction materials, printing inks and plastics in the forecast timeframe. In 2015, the overall paint & coatings market generated revenues exceeding USD 110 billion and will likely grow over 3% CAGR by 2024, which will consequently boost the product market growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. BASF
2. Clariant
3. Carl Schlenk AG
4. Cristal
5. CATHAY INDUSTRIES AUSTRALASIA PTY LTD
6. Tronox
7. TOMATEC AMERICA INC.
8. Pidilite Industries Limited
9. Merck Group
10. LANXESS
11. LANXESS Americas
12. Ferro Corporation
13. Huntsman Corporation
14. DIC Corporation
The ever-growing construction industry will also complement the pigments market growth for its applications in colored asphalt, metal panels, cooler tiles, wood construction and shingles manufacturing. By 2024, construction applications will likely exceed USD 1.2 billion owing to increasing population and rapid commercialization.
The pigments market has been witnessing increasing acceptance not only for they impart superior finishing and shade, but they provide significant protection to the surface against corrosion and weathering. Raw material involved in pigments production are carbon molecules, such as benzene, toluene, naphthalene and ethylene which are the petrochemical derivatives. Infrequent availability of raw material supply and wavering crude oil prices might have a negative influence on the product market growth in coming years.
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In 2015, the product segment was led by organic pigments, accounting for more than 40% of the total share. These are preferred to their inorganic counterparts, due to the severe government regulations concerning human health and environmental hazards. Inorganic products are probable to surpass 3.5% CAGR by 2024. Titanium dioxide pigments is likely to have the maximum share in the inorganic product t in the near future.
Specialty products are expected to witness more than 5% CAGR in the forecast period. Phosphorescents find significant applications in public places for instance, underground railway stations as.
Industry impact forces
• Global drivers
• Regional drivers
• Industry pitfalls & challenges
Pigments market by application
o Paints & coatings
o Printing inks
o Plastics
o Construction materials
o Others
Pigments market, product by application
o Inorganic
o Titanium dioxide
o Iron oxide
o Cadmium pigments
o Carbon black
o Chromium oxide
o Others
o Organic
o Azo
o Phthalocyanine
o Quinacridone
o Others
o Specialty
o Classic organic
o Metallic
o High performance organic
o Light interference
o Complex inorganic
o Fluorescent
o Luminescent
o Thermochromic
There has been a drifting consumer focus in the recent years towards metallic luster paints of superior quality. Classic organic had the highest share in the specialty products in 2015 and is predicted to observe CAGR over 5% in the forecast period.
Browse key industry insights report, “Pigments Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/pigments-market
Considering the pigments application segment, plastic applications generated more than USD 1.5 billion in 2015 and have substantial growth trends by 2024. The paint & coatings had been the largest share contributor in 2015 with over 35% of the global product market share. Moreover, consistent innovative diversifications in paint portfolio like waterborne paints on account of technological advancements will further propel the product market growth.
North America, pigments market, generated revenue exceeding USD 3.2 billion in 2015. Geographical growth is particularly driven by rising customer demand for specialty product segment. But, strict regulations imposed by EPA and REACH might obstruct the regional growth by 2024.
Key market players are Cristal, BASF SE, Clariant AG, Tronox Limited, Carl Schlenk AG, Tokan Material Technology Co., Ltd., Cathay Industries Group, Pidilite Industries Limited, LANXESS AG, Merck Group, Ferro Corporation, DIC Corporation and Huntsman Corporation,
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