Pigment Intermediate Market Evaluation Targets Advancement Anticipated until 2025
The pigment intermediates market is largely dominated by the Asian countries both in terms of production as well as consumption, owing to various reasons, such as easy availability of raw materials and presence of end-use industries.
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Global Pigment Intermediate Market: Segmentation
The global pigment intermediates market can be segmented on the basis of type as:
The global pigment intermediates market can be segmented on the basis of application as:
Paints & Coatings
Global Pigment Intermediate Market: Dynamics
There has been substantial growth in the paints and coatings market in the recent past. Paints & coatings have been largely utilized for commercial and residential purposes and also across various end-use industries, including railways, automotive, marine and others. Pigment intermediates are also widely utilized in printing ink applications. With stable growth in end-use industries across developing economies, the market is expected to register rapid growth. Further, with increasing government initiatives towards the development of various end-use industries, the demand for paints and coatings is anticipated to witness steady growth over the forecast period. This, in turn, will boost the demand for pigment intermediates in the near future.
Pigment intermediates are primarily supplied solely by Asian producers. Hence, the buyers of these intermediates are exposed to high risk in supply due to regulatory and operational issues. Various pigment intermediate manufacturers in Asian countries are facing pressure from their respective governments regarding regulatory compliance issues. This has in turn been forcing intermediate producers to purchase only the industrial version of their key raw material, i.e. urea, instead of its subsidized version, which is intended for agriculture use. This will significantly impact the production cost of these intermediates and also tighten the availability of industrial grade urea. The aforementioned reasons are expected to be the key factors restraining the growth of the global pigment intermediates market in the near future.
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One of the key trends identified in the global pigment intermediate market involves long-term relationships between the manufacturers of pigments and prominent manufacturers of pigment intermediates across the globe. In this way, manufacturers can strengthen their position in the market across the globe.
Global Pigment Intermediate Market: Regional Outlook
Globally, the pigment intermediates market is anticipated to be dominated by the Asia Pacific region, owing to the presence of significant end-use industries there. Further, the raw materials utilized for the production of pigment intermediates are available in significant quantities in developing economies, such as China and India. North America and Europe are anticipated to grow at moderate rates over the forecast period, owing to the low demand from the end-use industries for pigment intermediates. Latin America and the Middle East & Africa are expected to expand at low growth rates in the near future.
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Global Pigment Intermediate Market: Market Participants
Examples of some of the market participants identified across the value chain of the global pigment intermediate market include Camex Limited, Calsak Corporation, Ambuja Intermediates Limited, Nova International, Sugai Chemical Industry Co., Ltd., Wellton Chemical Co., Ltd., Minal Intermediates, Seya Industries Ltd., Sarna Chemicals, Kawaguchi Chemical Industry Co., Ltd., Nantong Acetic Acid Chemical Co., Ltd. and others.
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