Pigments Market Foreseen to grow exponentially over 2031

𝐏𝐢𝐠𝐦𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟑𝟏
The global pigments market was valued at US$ 34.45 Bn in 2021
It is estimated to grow at a CAGR of 4.59% from 2022 to 2031
The global pigments market is expected to reach US$ 53.82 Bn by the end of 2031

𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 - https://www.transparencymarketresearch.com/pigments-market.html

𝐏𝐢𝐠𝐦𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧
Pigments are insoluble products that can be employed to impart colors to paints, inks, plastics, papers, cosmetics, rubbers, concrete blocks, tiles, etc. They are an integral part of our day-to-day life. Prussian blue, azo pigments, ultramarine, mica powder, YInMn blue, and Alizarin crimson are some examples of pigments. Pigments provide vibrant colors to substrates, thus making products look more appealing. Pigment molecules contain electrons that occupy different levels of energy when exposed to light. They possess the ability to reflect or absorb light of specific wavelengths, which results in the appearance of colors.
The use of pigments in automotive coatings helps enhance their esthetic appeal and offers properties such as tinting strength, brightness, and fastness. Furthermore, the usage of pigments helps impart opacity, gloss, durability, resistance to heat and light, and excellent color effect to automotive coatings.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=905

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐏𝐚𝐢𝐧𝐭𝐬 & 𝐂𝐨𝐚𝐭𝐢𝐧𝐠𝐬 𝐀𝐮𝐠𝐦𝐞𝐧𝐭𝐢𝐧𝐠 𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐢𝐠𝐦𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭
Pigments are extensively utilized in the formulation of paints, as they impart color. They also improve the esthetic appeal and offer heat and light stability to paints & coatings. The paints & coatings industry has expanded significantly in emerging economies due to industrial development in the last few years. The per capita consumption of paints in India, China, Singapore, South Korea, and the ASEAN and GCC countries is likely to increase significantly in the near future due to economic growth in these countries.
Increase in the demand for decorative and industrial paints and rise in housing construction and infrastructural development are anticipated to fuel the pigments market during the forecast period. Expansion in marine, furniture, and consumer goods sectors is also contributing to a surge in the demand for industrial paints, thereby driving the global pigments market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=905

𝐒𝐮𝐫𝐠𝐞 𝐢𝐧 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐂𝐨𝐧𝐬𝐮𝐦𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐏𝐥𝐚𝐬𝐭𝐢𝐜𝐬
Global production of plastics is increasing significantly, doubling in volume between 2000 and 2019, to reach 460 million tons. Rise in demand for plastics in packaging, automotive, and building & construction industries is driving the production of plastics worldwide. Unique and advantageous properties of plastic have enabled the material to be used as a substitute for wood, paper, and rubber. Consumption of plastics has increased substantially in both developed and developing countries in the last few years. Economic growth, rise in disposable income, and rapid urbanization in countries such as China, India, Brazil, and South Africa are projected to drive the demand for plastics in the near future. This, in turn, is expected to fuel the pigments market during the forecast period.

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐈𝐧𝐨𝐫𝐠𝐚𝐧𝐢𝐜 𝐏𝐢𝐠𝐦𝐞𝐧𝐭𝐬
In terms of product, the global pigments market has been segmented into inorganic, organic, and specialty. According to the pigments market trends, the inorganic segment dominated the global market and accounted for 70.85% share in 2021. The segment is estimated to grow at an above-average CAGR of 4.21% during the forecast period. Increase in the consumption of white-colored pigments in paints & coatings is expected to propel the segment during the forecast period.
Organic and specialty segments are expected to grow significantly during the forecast period, as per the pigments market demand analysis. Organic pigments are available in an array of colors such as red, yellow, brown, and black. They offer excellent light fastness, uniformity in color, and tinting strength. Specialty pigments are widely used in the automotive sector.

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐀𝐜𝐭𝐢𝐯𝐢𝐭𝐢𝐞𝐬 𝐅𝐮𝐞𝐥𝐢𝐧𝐠 𝐏𝐚𝐢𝐧𝐭𝐬 & 𝐂𝐨𝐚𝐭𝐢𝐧𝐠𝐬 𝐒𝐞𝐠𝐦𝐞𝐧𝐭
Based on end-use, the global pigments market has been classified into paints & coatings, printing inks, plastics, construction materials, and others. The paints & coatings segment accounted for 50.95% share of the global market in 2021. The segment is estimated to grow at an above-average CAGR of 4.93% during the forecast period. Rise in construction activities, increase in the number of infrastructural development projects in growing economies such as India, China, Vietnam, and GCC, and expansion in the automotive sector in developing countries are driving the paints & coatings segment.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐢𝐠𝐦𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭
Asia Pacific dominated the global market and held 43.22% share in 2021, and it is expected to grow at an average CAGR of 4.88% during the forecast period. Increase in demand for paints & coatings in countries such as China, India, and Japan is driving the market in Asia Pacific. Expansion of the automotive sector is also expected to fuel the market in Asia Pacific during the forecast period.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=905

𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐢𝐠𝐦𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭
The global pigments market is dominated by a few large and medium players operating across the world. The top few players operating in the global market cumulatively accounted for more than 50% share in 2021. Key players are focusing on technological innovations, business expansion through mergers & acquisitions, financial restructuring and investments, and capacity expansion to have a large global presence and enhance their pigments market share. The Chemours Company, CRISTAL, Tronox Limited, BASF SE, LANXESS, Clariant International AG, Ferro Corporation, KRONOS Worldwide Inc., Sun Chemical Corporation, Cathay Industries Group, Heubach GmbH, Gharda Chemicals Limited, Sudarshan Chemical Industries Limited, and Altana AG are prominent entities operating in the market.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭

Rohit Bhisey
Transparency Market Research Inc.
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