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Paper Pigments Market Trends, Top Companies, Share, Growth And Forecast 2033
Paper Pigments Market Trends
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According to The Business Research Company's, The paper pigments market size has grown strongly in recent years. It will grow from $16.6 billion in 2023 to $17.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to growth in paper and packaging industry, increasing demand for specialty papers, rising disposable income and consumer goods demand, globalization and trade of paper products, shift towards eco-friendly pigments, government regulations on packaging materials.
The paper pigments market size is expected to see strong growth in the next few years. It will grow to $22.03 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to consumer preferences for high-quality printing, adoption of recycled paper, biodegradable packaging materials, stringent regulations on chemicals, customization in packaging design, population growth and urbanization. Major trends in the forecast period include rise in digital printing and specialty papers, technological advancements in pigment production, shift towards water-based pigment dispersions, increasing use of synthetic and organic pigments, demand for high-performance pigments in packaging, integration of pigments in sustainable packaging.
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Market Drivers and Trends:
Rising e-commerce is expected to propel the growth of the paper pigments market going forward. E-commerce refers to the buying and selling of goods and services over the internet. E-commerce business uses packaging materials such as paper pigments for the production of various packaging applications such as corrugated boxes, cartons, and other packaging materials. For instance, in August 2023, according to the United States Census Bureau, a US-based government agency, compared to the second quarter of 2022, the estimate for e-commerce in the second quarter of 2023 climbed by 7.5% (or 1.4%), while overall retail sales rose by 0.6% (or 0.4%). 15.4% of all sales in the second quarter of 2023 were made through online stores. Therefore, rising e-commerce is driving the growth of the paper pigments market.
Product innovation is a key trend in the paper pigment market. Major players operating in the market are introducing innovative sustainable features with high performance in pigment stabilization. For instance, in October 2021, Sun Chemical, a US-based producer of printing inks and coatings, launched Xennia Pearl pigment inks. Xennia Pearl pigment inks are sustainable, as they reduce water use and chemical waste. This pigment has exceptional print performance, high fastness, multi-substrate compatibility, and consistent color.
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Major Key Players of the Market:
IMERYS S.A., JM Huber Corporation, BASF SE, Kemira Oyj, The Chemours Company, Ashapura Minechem Ltd., Solenis International LLC, Lanxess AG, Heubach GmbH, Tronox Limited, Clariant International AG, Ferro Corporation, KRONOS Worldwide Inc., Sun Chemical Corporation, The Aditya Birla Group, Cabot Corporation, En-Tech Polymer Co. Ltd., GAB Neumann GmbH, Hansol Chemicals, Kokuyo Camlin Ltd., KaMin LLC., Minerals Technologies Inc., Omya AG, Sudarshan Chemical Industries Ltd., Thiele Kaolin Company, Altana AG, DIC Corporation, Merck KGaA, Pidilite Industries Limited, Organic Dyes and Pigments LLC, Purpurlab GmbH
Paper Pigments Market 2024 Key Insights:
• The paper pigments market size is expected to see strong growth in the next few years. It will grow to $22.03 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.
• Rising Paper Consumption In Emerging Economies Sparks Surge In Demand For Paper Pigments
• Sun Chemical Sets A New Standard With Xennia Pearl Pigment Inks, Pioneering Sustainable Excellence In Paper Pigment Market
• Asia-Pacific was the largest region in the paper pigments market in 2023 and is expected to be the fastest-growing region in the forecast period
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