Demand For Pigments Is Anticipated To Rise Significantly Over The Assessment Period 2022-2032

According to a recent study by Fact.MR on the pigments market, global business is estimated to be valued at US$ 35 Bn in 2021, and is expected to expand at a compound annual growth rate of 5.4% over the assessment period of 2021-2031.

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Fact.MR, a market research and competitive intelligence provider, analyses that pigment demand is set to witness high-end growth on the back of rising adoption showcased by the paints and coatings industry. Consumer preference for vibrant and colourful paints and coatings is setting new avenues in the pigment business, and the market is set to grow 1.4X in the short-term forecast period of 2021-2025.

The market of pigments is supported by changing consumer behaviour. Consumer nowadays prefer eco-friendly paints when it comes to home decoration. This indeed is acknowledged key manufacturers who are providing eco-friendly and better composition pigments to fulfil the needs of consumers. In addition, non-toxic pigments have been the new emerging choice of consumers, thus bolstering overall demand for pigments globally.

Furthermore, market players are seen optimizing their product offerings. Although synthetic pigments occupy a major chuck in the business, the market is anticipated to witness exponential growth attributed to changing consumer preference for organic and eco-friendly pigment offerings.

Key Takeaways from Market Study

The global pigments market is anticipated to add 2.4X value by 2031.
Key players such as Chemour and LANXESS exhibit higher single-digit growth.
Synthetic pigments capture a major chunk of the market and are set to create an absolute $ opportunity of around US$ 1.8 Bn over 2021-2031.
Construction industry recovery post COVID-19 (Q2 2021) to add 1.7X value to overall sales of pigments in 2021.
Paints and coating to hold around 1/2 share of overall pigments industry in 2021.
“Extensive supply chain capabilities in low demand and supply regions to provide upper edge to key manufacturers,” says a Fact.MR analyst.

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Pigments Market Key Segments

By Product Type

Inorganic Pigments
Titanium Dioxide
Iron Oxide
Carbon Black
Chromium Compounds
Others
Organic Pigments
Azo
Phthalocyanine
Quinacridone
Others
Specialty Pigments
Classic Organic
Metallic
High performance organic
Light Interference
Complex Inorganic
Fluorescent
Luminescent/phosphorescent
Thermochromic
Others

By Application

Paints & Coatings
Printing Inks
Plastics
Commodity
Engineered
Construction Materials
Others

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Competitive landscape

Companies are launching new products to align their offerings with changing consumer behaviours and sentiments, new government legislations, and environmental policies.

In 2019, Venator launched its pigment product line for boosting solar reflectance and ultra-low moisture applications to be used in the plastics industry.
Croda recently introduced an effect pigment for meeting all consumer preferences in the personal care industry.

Report Benefits & Key Questions Answered

Pigments Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
Pigments Market Historical volume analysis: The report provides a comparison of Canned Cocktails Market historical sales and projected sales performance for 2021-2031.
Pigments Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Pigments MarketIt carefully gauges the impact of changing healthcare needs of key demographics globally
Pigments Market Consumption by demographics: The report investigates consumer behavior affecting Pigments Marketdemand outlook for the assessment period. Effect of their keenness for digital trends on Pigments Market is carefully analyzed
Post COVID consumer spending on Pigments Market Consumption: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Pigments Market growth.

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