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Pigments Market 2018 : By Key Players BASF SE, Cabot Corporation, Clariant International Ltd., DIC Corporation, ECKART GmbH, Ferro Corporation, Heubach GmbH, Huntsman Corporation, Lanxess AG, and The Shepherd Color Company.

04-25-2019 02:08 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Pigments

Pigments

Pigments are organic or inorganic compounds used as coloring agents. Some of the properties of pigments are baking stability, tinting strength, solvent resistance, easily dispersible, and uniqueness and consistency in color. These pigments are primarily used in printing inks, plastics, paints and coatings, ceramics and glass, synthetic fibers, building materials, personal care products, agriculture, pharmaceuticals, and cosmetic products.

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Increasing use of pigments in paints and coatings, plastics, printing inks, and other applications is driving growth of the global pigments market. High performance pigments posses improved fastness, and coloristic and dispersion properties that increase demand for pigments in various applications such as non-impact printing, outdoor signage, and packaging. Furthermore, use of iron oxide pigments in lithium-ion batteries for cathode generation fuels growth of the pigments market.

Inorganic pigments was the dominant segment in 2016 due to various properties of inorganic pigments such as high opacity, antistatic, flame retardant, UV stabilization, anti-block, and heat stabilization and it is also lower in cost. Titanium dioxide is the largest revenue contributor among inorganic pigments towards the global pigments market, owing to its use as white extender to lower cost or improve properties. Carbon black pigment is commonly used to give black color in printing inks, while iron oxide earth pigments can yield siennas, ochres, and umbers, which are used in various industries such as construction.

Paints and coatings are widely used for various applications such as corrosion resistance, scratching resistance, and enhancing aesthetic appeal. Increasing demand for pigments from construction, automotive, marine, aerospace, packaging, and other industries coupled with developments in technologies such as nano-coatings technology is driving growth of the pigment market. For instance, according to the International Organization of Motor Vehicle Manufacturer (OICA), the total registration or sales of new vehicles was 89,684,608 in 2015 and 93,856,388 in 2016. This growth in the automotive industry is fueling demand for pigments for paints and coatings.

Asia Pacific is the largest region is the market with a share of 41.06% in 2016 and is expected to retain its dominance in the market over the forecast period. This is attributed to growing paints and coatings, plastics, automotive, and construction industries in the region. According to the Federation of Indian Chambers of Commerce and Industry automobiles component market is estimated to reach US$ 115 billion by 2020 -2021. This is expected to drive growth of the pigments market in India.

Some of the major players operating in the pigments market are BASF SE, Cabot Corporation, Clariant International Ltd., DIC Corporation, ECKART GmbH, Ferro Corporation, Heubach GmbH, Huntsman Corporation, Lanxess AG, and The Shepherd Color Company.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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