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APAC Pigments Market to register appreciable gains through 2025

APAC Pigments Market to register appreciable gains through 2025

The global pigments market will be witnessing promising growth on account of rising demand from the construction and printing ink industry. Paint and coating industry is a major contributor to the global construction sector which is proliferating on account of increasing urbanization and industrialization lately.

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In fact, in 2017, cement production in the U.S. was claimed to have increased to 86.3 million tons from 85.0 million tons in 2016. The pigments market trends are also estimated to observe considerable growth during the forecast period with increased spending on public infrastructure by governments worldwide.

According to reports, printing ink was one of the key customer products in 2017 and the segment is projected to grow at a substantial pace in the coming years. With rising demand from the packaging sector, printing ink industry is projected to become a USD 20 billion sector by 2020. Growth in printing ink industry could also in turn become a major driving factor for colorants between 2018 to 2025.

In terms of revenue, the organic pigments market was slated to be the largest product segment in 2017 owing to its low-level of toxicity. Specialty pigments segment is most likely to experience gains due to factors like its vibrant colors and excellent luster that can ideally be used in plastics, paints & coatings and in cosmetic products. These pigments are used for enhancing the appearance, value, and performance of a product. They are also used in printing inks to create product packaging that would generate maximum consumer attraction, thereby boosting pigments market size.

Asia Pacific was slated to hold a major share in colorant market and is likely to grow at a considerable CAGR over the forecast period. Increase in the income of consumers could have a direct impact on the construction market which would augment APAC pigments market size.

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In addition to this, North America has also recorded significant market size from the colorant segment. The region's paints & coating and plastic industries are growing at a considerable pace which would create immense growth opportunities for market players in the future. Moreover, with rising industrialization and urbanization, companies in North America are likely to observe huge demand for pigments during the forecast timespan.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.
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