North America Pigments Market future prospects, growth opportunities and outlook (2019-2026) shared in trending report | BASF, Merck, Lanxess, DIC, Clariant, Huntsman, Pidilite
Regulatory norms pertaining to chemicals manufacturing have grown stricter in recent years. Modern day pigments are carefully engineered in regulated manufacturing facilities considering latest health, safety, and environmental regulations. Pigments can be broadly classified as organic, inorganic, and specialty pigments. In addition to paints and coatings industry, they are used in construction, plastics, and printing inks applications.
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The pigments market is regulated by construction and environmental organizations. There are numerous safety concerns regarding pigment handling and storage. For example, iron oxide black consists of bivalent iron and could undergo an oxidation process which could lead to exothermic reaction. Thus, it is important to store the substance below 80°C.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• BASF SE
• DIC Corporation
• Clariant AG
• Cathay Industries Group
• Huntsman International LLC
• Cristal, Tronox, Inc
• Ferro Corporation
• Merck Group
• Tokan Material Technology Co., Ltd.
• Pidilite Industries Ltd
Consistent demand for paints and coatings is likely to influence the pigments market forecast in the coming years. Several regulations on health-hazardous uses of the products have emerged, boosting the adoption of organic pigments. Also, the emergence of the digital printing industry will witness an augmented product demand for printing ink.
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The pigments market comprises of large scale players focused on strategic acquisitions and significant production activities, contributing to over 70% of the market share. The companies are also implementing novel and innovative products to sustain competition. For instance, in August 2020, ECKART introduced pigments for silver metallic color shades. They were developed to assist in autonomous driving.
1. Paints & coatings
2. Printing inks
4. Construction materials
There has been a rise in the demand for plastics due to their low price and lightweight properties that will further boost the demand for pigments across the plastic sector. As per the Plastic Europe Trade Association, the output for plastic had risen from 245 million tons in 2006 to more than 348 million tons in the year 2017.
China proved to be the largest user of plastic and held a market share of more than 29% in 2017. This was on account of a steady rise in industrialization which resulted a rising need for plastic for a cost-effective production within the country. Rising consumption of plastic in China would result in an augmented pigment industry share.
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