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Synthetic Pigments Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Synthetic Pigments Market
Synthetic Pigments Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $76.43 billion In 2028 At A CAGR Of 8.9% :
The synthetic pigments market size has grown strongly in recent years. It will grow from $49.55 billion in 2023 to $54.37 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to emerging markets growth, government incentives, low interest rate environment, increasing textile demand and rise in affordable housing.
The synthetic pigments market size is expected to see strong growth in the next few years. It will grow to $76.43 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to rising demand for high performance pigments and high demand from end user industries . Major trends in the forecast period include adopting iot technology to enhance manufacturing efficiencies, implement big data analytics in operations to reduce energy consumption, adopting sustainable and ecofriendly processes to manufacture organic pigments, low production costs, investing in technology advancements, investing in r&d to develop products with enhanced properties and focus on entering into merger and acquisition agreements with emerging companies.
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Synthetic Pigments Market Major Segments
The synthetic pigments market covered in this report is segmented -
1) By Product Type: Inorganic Pigments, Organic Pigments
2) By End User Industry: Paints and Coatings, Plastics, Printing Inks, Textiles, Cosmetics and Personal Care, Other End Use Industries
Key Driver - Expanding Horizons With High-Performance Pigments Redefine End-Use Industries
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 pigment 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, the automotive industry, and others. For instance, DIC Corporation, a Japan-based chemical company, launched Sunbrite Yellow 74, an azo-based high-performance pigment on the market. High-performance pigments are becoming more affordable, and their market share is expected to increase rapidly.
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Prominent Trend - Manufacturing Migration Pigment Production Shifts To Asia-Pacific
Recently, there has been an increasing migration of manufacturing capacities from the West to low-cost countries in the Asia-Pacific region. This is mainly due to stringent environmental compliance in Europe and North America. Gradually maturing production technologies and the presence of strong downstream customer bases within countries such as China and India have been driving the demand for pigments in these countries in recent years. Examples of companies that have moved their manufacturing facilities to the Asia region are Huntsman Corp., DyStar, and Clariant.
Synthetic Pigments Market Players
Major companies operating in the synthetic pigments market report are The Chemours Company, Tronox Holdings plc, BASF SE, Kronos Worldwide Inc., Venator Materials PLC, Lanxess AG, Clariant, Merck Group, Altana AG, DIC Corporation, Hangzhou Tiankun Chem Co. Ltd, Qingdao Haiwan Specialty Chemicals Co. Ltd, Hangzhou Chungyo Chemicals, Hangzhou Han-color Chemical Co. Ltd., Kiri Industries Ltd., Heubach India, Atul Ltd., Clariant Chemicals (India) Ltd., K. Sakai & Co. Ltd., Asahi Songwon Colors Ltd., Atul Ltd., Sudarshan Chemical Industries Ltd., Taoka Chemical Co. Ltd., Toyo Ink SC Holdings Co. Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the synthetic pigments market in 2023. Western Europe was the second-largest region in the synthetic pigments market report. The regions covered in the synthetic pigments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Synthetic Pigments Market Report Structure
3. Synthetic Pigments Market Trends And Strategies
4. Synthetic Pigments Market - Macro Economic Scenario
5. Synthetic Pigments Market Size And Growth
…..
27. Synthetic Pigments Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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