Analyst Perspective
The global pigments market is expected to register a CAGR of 4.2%. The pigments market is poised for growth in the forecasted period, driven by increasing demand from key sectors like paints, plastics, and printing inks. These industries rely on pigments to enhance their products' color and durability. The market is further boosted by the rising popularity of organic pigments, known for their environmentally friendly and sustainable characteristics. Growth in emerging markets, the demand for high-performance pigments, and the focus on sustainability are significant growth-driven opportunities for the pigments market. The development of new pigment applications, such as solar cells and electronics, is creating new opportunities for the market. Environmental regulations, Raw-material price volatility, competition, and technological disruptions are significant challenges that may hamper the growth of the pigments market.
Market Overview
Pigments consist of finely ground solid particles blended with oil, water-based paints, printing inks, and plastics. They alter the color of reflected or transmitted light due to their selective absorption of wavelengths. The pigments must possess specific properties to effectively color other materials, including high tinting strength relative to the colored materials and stability in solid form at an average temperature. Custom-colored products' growing popularity drives demand for a broader range of pigments. The increasing use of pigments in cosmetics and personal care products is another driver of market growth. As the world's population becomes more urbanized, there is a growing demand for housing and other infrastructure which leads to an increase in construction activity, which in turn is driving demand for paints and coatings, thus pigments.
Market Drivers
- Pigments constitute a significant component of paints and coatings, and the rising demand for these products drives growth in the pigments market. The construction industry is a significant driver of demand for paints and coatings, as new buildings and infrastructure projects require a variety of coatings for protection and aesthetics.
- The automotive industry is another major consumer of pigments. Pigments are used in various automotive applications, such as paints, plastics, and textiles. The growing demand for cars,
particularly in developing countries, is driving growth in the pigments market.
Market Segmentation
The global pigments market is segmented based on type, technology, and application. The global pigments market is segmented based on type into organic and inorganic. The pigments market is segmented based on technology into solvent-borne, water-borne, and others. Based on application, it is segmented into paints & coatings, plastics, textiles, printing inks, leather, building & construction, packaging, transportation, and others.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives information on an overview and forecast of the global pigments market based on several segments. It also provides market size and forecast estimates from 2020 to 2030 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The pigments market by region is also sub-segmented by respective countries and segments. The pigments market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the pigments market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting the pigments market in these regions.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the pigments market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the pigments market are anticipated to have lucrative growth opportunities with the increasing demand for innovative products in the global market.
The report includes key companies' profiles, SWOT analysis, and pigments market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the global pigments market.
- AkzoNobel
- Clariant
- DIC CORPORATION
- The Chemours Company
- Venator Materials PLC
- Kronos Worldwide, Inc
- LANXESS
- ALTANA
- LB Group
- Pidilite Pigments