At 4.5 % CAGR, Pigments Market Remuneration to Surpass USD 18 billion by 2024

Pigments market shall witness substantial growth in terms of volume during the forecast timeframe as the multinational giants involved in this business are continuously increasing their production capacities by setting up manufacturing plants in new geographical locations.

Pigments market shall witness promising gains during the forecast period owing to its rising demand in construction industry. Concrete is an indispensable part of construction industry, which is produced from cement. Iron oxide is primarily used for coloring concrete. In 2017, U.S. cement production was 86.3 million tons up from 85.0 million tons in 2016. Furthermore, it is likely to witness prominent growth rate during the forecast period, owing to the increased spending from U.S. government on public infrastructure, which will positively influence pigments market in the coming years.

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The colorant market is majorly regulated by environmental and construction organizations. There are various safety concerns regarding pigments handling and storage. For example, iron oxide black contains bivalent iron and may undergo oxidation, leading to an exothermic reaction. It is kinetically restricted and is only initiated at elevated temperatures. For this reason, the storage temperature of the product should not exceed 80°C. Also, chemicals such as quinacridone are highly insoluble in water and organic solvents, which makes its biodegradation process very slow. Furthermore, increasing regulations favoring low volatile organic compounds (VOC) as ingredient in paints & coatings has impacted global pigments market size.

Organic pigment was the largest product segment in 2017 in terms of revenue. This can be attributed to its low level of toxicity. Specialty pigments segment shall experience maximum gains over the forecast timeframe. The segment produces a range of vibrant colors with excellent luster. It has brilliant hiding power and light fastness, these qualities make them ideal in plastics, paints & coatings and cosmetics applications. These products are majorly used to enhance the value, appearance and performance of the product.

Paints & coatings industry generated the maximum revenue for pigments market in 2017. This application segment is slated to witness maximum gains in overall colorant market during the forecast period. Printing inks is also an important application of pigments market. These pigments are used in printing inks to create product packaging that attracts consumer attention and differentiates manufacturers’ products competing for shelf-space in retail establishments.

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Emerging countries of Asian belt like China, India have been observing a heavy onslaught of investments in construction and automobile domains, a factor that has had a rather appreciable influence on APAC pigments industry. Experts predict that the trend is likely to remain synonymous over the ensuing years, primarily on account of the rise in disposable incomes of the consumers and the increased investments in real-estate sector. The surge in demand for advanced pigments across Asia Pacific turf may be also credited to the robust growth in paints & coatings sector across nations like Japan, Malaysia, and Indonesia. All in all, it would be apt to state that Asia Pacific, backed by a lucrative end-use portfolio, has emerged to be an opportunistic investment spot for pigments industry giants.

BASF SE, Tronox Inc., Huntsman Corporation, Lanxess AG, Clariant Corporation and DIC Corporation are major market players in pigments industry. Mergers & acquisitions is a very common strategy in colorant market.

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Table of Contents (ToC) of the report:

Chapter 5. Pigments Market, By Application
5.1. Global pigments market application insights
5.2. Paints & coatings
5.2.1. Market estimates and forecast, 2014 - 2025
5.2.2. Market estimates and forecast by region, 2014 - 2025
5.3. Printing inks
5.3.1. Market estimates and forecast, 2014 - 2025
5.3.2. Market estimates and forecast by region, 2014 - 2025
5.4. Plastics
5.4.1. Market estimates and forecast, 2014 - 2025
5.4.2. Market estimates and forecast by region, 2014 - 2025
5.5. Construction materials
5.5.1. Market estimates and forecast, 2014 - 2025
5.5.2. Market estimates and forecast by region, 2014 - 2025
5.6. Others
5.6.1. Market estimates and forecast, 2014 - 2025
5.6.2. Market estimates and forecast by region, 2014 – 2025

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