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Pigments Market Future Demand & Growth Analysis with Forecast up to 2023
View Full Report: https://www.transparencymarketresearch.com/pigments-market.html
Asia Pacific Prospects Deemed Lucrative Amid Positive Demand Growth
The global pigments market is generating a high volume of demand from the emerging economies of the world, especially from Asia Pacific. India, Malaysia, Thailand, China, and Indonesia, South Korea, and Australia and displaying a very strong growth in demand for pigments within the end-user industries of construction and automotive. “In 2014, Asia Pacific emerged as the leading consumer of inorganic pigments, marked by the swift pace of the region’s economic progress and bolstered construction activities and developments in infrastructure. The paints and coatings industry is substantially gaining from this trend and is likely to improve its scope of expansion APAC,” states a TMR analyst.
Paints and Coatings Industry to Continue Prominent Demand Scale for Pigments
Growth witnessed by the paints and coatings industry in the last couple of years has been remarkable in key countries from emerging economies. Industrial development in emerging economies has created greater opportunities for the industry, thus fuelling demand for pigments. As per TMR analysis, per capita consumption of paints is expected to increase in countries such as India, China, South Korea, Singapore, ASEAN, and GCC at an impressive rate. This will subsequently boost pigments sales in the aforementioned countries.
BASF SE, DIC Corporation, and Altana AG, collectively held a share of 30% in the global pigments market for 2015, according to analysis carried out by Transparency Market Research. Along with the significant market share taken up by these three leaders, the global pigments market will still exhibit a highly competitive landscape. Due to its highly fragmented nature, no player in the market may be able to show a high profit margin.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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