Synthetic Pigments Market Size, Share, Demand, Trends and Forecast Report till 2030

The Global Synthetic Pigments Market Report provides a study with an in-depth overview, describing the product/industry scope and elaborating market outlook and status (2021-2030). The report is curated after in-depth research and analysis by experts. The report provides comprehensive valuable insights on the global Synthetic Pigments market development activities demonstrated by industry players, growth opportunities, and market sizing with analysis by key segments, leading and emerging players, and geographies.

The global synthetic pigments market is expected to grow from $37.03 billion in 2020 to $40.07 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $45.95 billion in 2025 at a CAGR of 3%.

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Top Companies in the Global Synthetic Pigments Market: BASF SE; Archroma; DyStar; Huntsman; Clariant; Synthesia; Cromatos; Atul; Waterside colours; DIC Corp.; Lanxess AG; DupontMerck KGAA; OCI Company Ltd; The Chemours Company; Venator Materials PLC; Tronox Limited

Recent Updates:

In August 2019, DIC Corporation, a Japanese chemical company entered into an agreement to acquire BASFs global pigments business, known as BASF Colors & Effects for an undisclosed amount. Acquisition of BASF will strengthen DIC Corporation in global pigments business. BASF is German based producer of chemicals and also well known for portfolio in segments such as chemicals, materials, industrial solutions, surface technologies, nutrition & care and agricultural solutions.

Market Overview:

The demand for high performance pigments and advanced technology engineered pigments such as cool pigments, nano pigments and pigments made from superior dispersion technologies is expected to drive the synthetic pigments market. These new and advanced pigments have the capability to cater to the fast-growing novel end-use industries and technologies such as 3D-printing, automotive industry, and others. For instance, DIC Corporation, a Japan-based chemical company launched Sunbrite Yellow 74, an azo based high performance pigment in the market. High performance pigments are becoming more affordable and their market share is expected to increase rapidly.

The growing awareness about adverse health effects of certain synthetic pigments is pushing pigments manufacturers to shift from chemical-based synthetic pigments to natural pigments, negatively impacting the market. Manufacturers are focusing on shifting from chemical pigments to natural pigments to cater to the consumer preferences for new textiles colors, which are also environmentally-friendly. Synthetic pigments also have adverse effects on the health of people and the environment due to which emerging economies are shifting to natural pigments. Several developed and developing countries have imposed a ban on the import of synthetic pigments. The use of azo pigments is banned in developing countries such as India owing to their environmental and health impacts.

Segmentation:

Markets Covered:
1) By Product Type: Inorganic Pigments; Organic Pigments 2) By End Use Industry: Paints And Coatings; Plastics; Printing Inks; Textiles; Cosmetics And Personal Care; Others

Regional Analysis:

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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