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Pigment Dispersion Global Market Analysis, Trends, Growth, Research And Forecast 2033
Pigment Dispersion Global Market Analysis
According to The Business Research Company's, The pigment dispersion market size has grown strongly in recent years. It will grow from $40.12 billion in 2023 to $43.06 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to growth in the printing and packaging industries, demand for vibrant and durable colors, expansion of the automotive and construction sectors, development of high-performance pigments, growth in paints and coatings applications..
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Market Drivers and Trends:
The growing demand for wood is expected to propel the growth of the pigment dispersion market going forward. Wood is a natural, organic material that forms the structural tissue of trees and woody plants and is widely used as a versatile material. Pigment dispersions are used to stain or color wood surfaces in furniture manufacturing and woodworking. For instance, in December 2022, according to the Natural Resources Institute, a Finland-based government office, total round wood use in Finland in 2021 was 85.2 million cubic meters. Comparing the sum to the prior year, there was a 9% rise. Furthermore, the number of by-products and other types of wood waste used was 27.7 million cubic meters, which is an increase of 17% over the previous year. Therefore, growing demand for wood is driving the growth of the pigment dispersion market.
Major companies operating in the pigment dispersion market are innovating products, such as low-volatile organic compounds (VOC) pigment dispersions to create ecofriendly coatings. Low-VOC pigment dispersions are colorant formulations with a minimal volatile organic compound content, commonly used in environmentally friendly coatings and inks to reduce air pollution and health hazards. For instance, in October 2021, Clariant, a Switzerland-based chemicals company, a new range of low-VOC pigment dispersions called Hostatint AU, which are designed for use in architectural coatings. These pigment dispersions are ideal for a variety of applications because of their great durability, fade resistance, and enhanced opacity.
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Major Key Players of the Market:
Achitex Minerva S.p.A.; Altana AG; American Elements Corp.; Apollo Colors Inc.; Aralon Color GmbH; Aum Farbenchem Pvt. Ltd.; Flint Group; Cabot Corporation; Croda International plc; Clariant AG; Decorative Color & Chemical Inc.; DIC Corporation; Dunn-Edwards Corporation; DyStar Group; BASF SE; Sudarshan Chemical Industries Ltd.; Heubach GmbH; Penn Colors Inc.; Pidilite Industries Ltd.; Lanxess Co.; Evonik Industries AG; Huntsman International LLC; Solvay SA; Dow Inc.; Croda International PLC.; J.M. Huber Corporation; The Lubrizol Corporation; Akzo Nobel NV; Pharmacos; AArbor Colorants Corporation; Eckart GmbH
Pigment Dispersion Market 2024 Key Insights:
• The pigment dispersion market size is expected to grow to $57.02 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Rising Wood Demand Fuels Growth In The Pigment Dispersion Market
• Innovative Low-Voc Pigment Dispersions For Eco-Friendly Coatings
• Asia-Pacific was the largest region in the pigment dispersion market in 2023.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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