Press release
Pigments Market: What are the Future Growth Opportunities? Top Players: Huntsman International, Lanxess, BASF, Merck Group, Carl Schlenk, Pidilite Industries, Clariant AG, DIC Corporation, Cathay Industries Group, Tronox
Studies cite that organic pigments market is estimated to register a commendable growth during the forecast period, given the increasing usage of organic pigments in rubber, textile, paint and coatings, and printing inks industries.Escalating requirement for coatings and paints across numerous industries comprising packaging, automobile, and construction is likely to bolster the market outlook through the coming years. The product is further slated to be influenced by a remarkable surge in the European cosmetics industry, driven by increasing usage in products including eyeshadows, haircare products, nail paints, and powders.
Of these, the paint and coatings segment accounted for the largest share in 2018 in North America followed by the plastics application segment which contributed over 15 per cent of the regional market share in the same year. One of the prominent reasons for organic pigments market growth lies in its extensive utility in plastics used for fire protection, UV protection, as well as other attributes such as long service life and attractive colors.
Rising construction activity and surging automobile demand to spur North America pigments industry growth through 2026
Increasing number of activities in the North America construction sector are set to create an upsurge in regional pigments product demand over the estimated timeframe. As per the United States Census Bureau, the value of overall public construction as observed in July 2018 amounted to USD 305,364 million, exhibiting a rise of 6 per cent to USD 324,055 million by July 2019.
Access sample pages of the report, “North America Pigments Market Forecasts 2025” in detail along with the table of contents (ToC) @
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North America pigments market is projected to exceed a $5 billion valuation by 2025, owing to the escalating automobile demand especially in the United States. The region is home to some of the globally largest automobile manufacturers comprising Fiat Chrysler Automobiles, Ford Motors, and General Motors. Technological innovations in the automobile sector are, therefore, set to drive inorganic pigments industry growth over the estimated period.
The United States produced 11,314,705 vehicles in 2018, witnessing a 1.1 per cent surge as compared to the previous year, stated the International Organization of Motor Vehicles Manufacturers.
Prominent players in North America market comprise Clariant AG, Huntsman International LLC, DIC Corporation, Lanxess AG, Cathay Industries Group, BASF SE, Tronox, Inc., Merck Group, Carl Schlenk AG, and Pidilite Industries Limited.
Paints and coatings segment to push Asia Pacific market share through 2026
Asia Pacific pigments market is touted to surpass USD 9 billion valuation by 2025 with paints and coatings application segment likely to contribute a lucrative share of over 35 per cent through the estimated period. This remarkable contribution is attributed to the vast utilization of pigments in this application category for imparting colors.
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Construction segment is set to accrue a commendable percentage of 10 per cent of the overall regional revenue share, given its wide applicability in cooler tiles, colored shingles, colored roofing for safety passages, asphalt, wood construction, and metal panels.
Further, increasing use of architectural paints in residential and non-residential construction will propel Asia Pacific pigments product demand over the anticipated timeframe. Additionally, the presence of durability, high gloss, and anti-corrosive properties will foster the growth of inorganic pigments application in the paints and coatings industry.
With regards to the construction activity in Asia Pacific, China accounted for over half of the total construction spending in the region in 2013, followed by India and Japan. The region has also witnessed tremendous development in numerous industries including automotive, manufacturing, and others, over the past decade, and is likely to foresee a commendable demand for infrastructure development through 2026.
Flourishing paper industry to drive Europe market growth over the assessment period
Escalating paper industry coupled with subsequent rise in paper exports is set to foster Europe market growth over the anticipated timeframe. Increasing environmental awareness in the region is yet another factor contributing to the escalation of organic pigments market growth over the forecast period.
In 2018, organic pigments accounted for a commendable share of more than 50 per cent, given the prominent drivers such as increasing applicability in plastics and paint & coatings due to myriad properties such as non-toxicity and cost effectiveness.
Access sample pages of the report, “Europe Pigments Market Forecasts 2025” in detail along with the table of contents (ToC) @
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In addition to possession of good color strength, its product availability in numerous unique shades make organic pigments a more attractive alternative to be used in visual arts as well. Further, surging product consumption in numerous hi-tech applications comprising photo-reprographics, optical data storage, and opto-electronic display are expected to escalate Europe pigments industry valuation to USD 4 billion through 2025.
Rising competition of different types of pigments with other dye markets and with each other is also slated to escalate Europe market demand over the estimated timeframe. The specialty colorants segment is estimated to depict the highest CAGR, owing to the surging demand for luminescent and fluorescent pigments during the assessment timespan.
Printing ink also stood as a prominent product end-user in 2018 and is poised to foresee an appreciable CAGR through 2026 with appearance and color being the prominent factors consumer attention.
In essence, surging demand for printing inks coupled with a subsequent rise in the number of activities in the construction sector will boost global pigments market demand through the anticipated timeframe. Stringent government regulations and volatile prices of raw materials is, however, likely to restrain industry expansion to a certain extent.
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Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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