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White Inorganic Pigments Global Market Analysis, Trends, Growth, Research And Forecast 2033
White Inorganic Pigments Global Market Analysis
According to The Business Research Company's, The white inorganic pigments market market size has grown strongly in recent years. It will grow from $21.29 billion in 2023 to $22.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to construction industry growth, paints and coatings demand, automotive sector requirements, increased use in plastics, global urbanization trends..
The white inorganic pigments market market size is expected to see strong growth in the next few years. It will grow to $29.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to architectural renovations and upgrades, environmental regulations, expanding packaging industry, consumer goods manufacturing, shift towards sustainable practices.. Major trends in the forecast period include rise in demand for white pigments in plastics industry, introduction of nanostructured white pigments, focus on specialty pigments for cosmetics, integration in advanced coating technologies, adoption in digital printing inks..
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Market Drivers and Trends:
The growth of the global construction sector is expected to boost the growth of the white inorganic pigments market going forward. The construction industry refers to the industrial branch of manufacturing and trade-related activities, including building, repairing, renovating, and maintaining infrastructure. The white inorganic pigments are used in coating buildings and building materials to provide durability and appearance. For instance, in 2022, according to the U.S. Construction Cost Trends report, there is a rise in residential construction, which will continue to drive up demand for materials and labor, escalating competition and cost pressures. In the U.S., total construction spending has increased by 16% since the pandemic's onset. Therefore, the growth of the global construction sector is driving the growth of the white inorganic pigments market.
Product innovations are a key trend gaining popularity in the white inorganic pigments market. Major players in the white inorganic pigments market are developing low-abrasion pigments to provide a better alternative for pigments. For instance, in June 2022, Clariant AG, a Switzerland-based specialty chemicals company, launched the advanced Dispersogen Flex 100. It is the first universal polymeric dispersing agent for high-quality pigment preparations that can integrate organic and inorganic pigments and be utilized in all water-based paint systems. The product is generic, low-VOC, label-free, and has Clariant's EcoTain label.
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Major Key Players of the Market:
The Chemours Company; Tronox Holdings plc; Lanxess AG; Kronos Worldwide Inc.; BASF SE; Venator Materials plc; Altana AG; Gharda Chemicals Limited; Heubach GmbH; Cathay Industries Group; Sun Chemical Corporation; Sudarshan Chemical Industries Limited; Ferro Corporation; Travancore Titanium Products Ltd.; Clariant International AG; Alabama Pigments Company; Cabot Corporation; Carl Schlenk AG; Dominion Colour Corporation; DyStar Singapore Pte. Ltd.; ECKART GmbH; Ineos Pigments USA Inc.; Jiangsu Yuxing Industry & Trade Co. Ltd.; Albemarle Corporation; DuPont de Nemours Inc.; Evonik Industries AG; Huntsman Corporation; Lomon Billions Group Co. Ltd.; Merck KGaA; Nippon Paint Holdings Co. Ltd.; OCI Company Ltd.; PPG Industries Inc.; Rockwood Holdings Inc.; Tikkurila Oyj; Toyo Ink SC Holdings Co. Ltd.; Trust Chem Co. Ltd.; Union Colours Limited; Vibfast Pigments Pvt Ltd.
White Inorganic Pigments Market 2024 Key Insights:
• The white inorganic pigments market market will grow to $29.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Construction Boom Fuels White Inorganic Pigments Market Growth
• Low-Abrasion Pigments Emerge As Preferred Choice For High-Quality Paints
• North America was the largest region in the white inorganic pigments 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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