Press release
Coating Pigments Market To Witness A High Tide At A CAGR Of 5.5% Between 2022 - 2031: Fact.MR
As per a recent industry analysis by Fact.MR - market research and competitive intelligence provider, global coating pigments market has been valued at USD 23.2 billion in 2021. The coating pigments market has shown a growth of 4.1% CAGR between 2017 & 2021.Further, the global coating pigments market has been estimated to generate ~40% of overall market valuation for global industrial coating market in 2021. It is projected to grow at 5.5% CAGR and reach the valuation of USD 41.9 billion by 2032. In addition, it is likely to offer an absolute dollar opportunity of USD 18.6 billion between 2022 & 2032.
Looking through regional lens, the European coating pigments market is one of the prominent markets from the perspective of production and sales of coating pigments. Therefore, this market is likely to witness a growth of 4.8% CAGR and contribute an absolute dollar opportunity of around USD 4.1 billion during the forecast period.
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Market Segments Covered in Coating Pigments
Market Analysis:
By Composition Type
Extenders/Fillers
Titanium Dioxide (TiO2)
Color Pigments
Others (anticorrosive, metallic, pearlscent)
By Product Type
Inorganic
Organic
By End-Use Industry
Automotive
Protective & Marine
Refinish
Architectural
Aerospace
Packaging
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Which End-Use Industry will Provide Significant Growth?
The growing number of applications in industries using pigment has led to a spurt in demand for coating pigments globally. Further, the number of infrastructure modernization projects worldwide have been observed to grow significantly in the recent past, creating a strong demand for coating pigments. However, coating pigments demand in architectural application accounts for over 38% share and is estimated to further witness strong demand in the forecast period.
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Which Product Type of Coating Pigments is highly preferred by Consumers?
Inorganic pigments with more than 80% of the global coating pigments market are expected to lose market share in forecast years. Stringent rules and regulations against the use of toxic substances and metals in coating pigments present in the inorganic coating pigments can affect the inorganic segment.
However, organic coating pigments are on the expensive side but have recently gained a customer base across developed economies. High durability, certain color shades are major factors driving the demand for the use of organic coating pigments.
For More Insight- https://www.einpresswire.com/article/557048856/demand-for-consumer-appliances-spearheading-sales-electronics-and-electrical-ceramics-says-fact-mr-s-study
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