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Market OverviewPigments are colored powders which is used to impart color on various substrates such as paper and plastics. In general, plastic pigments can be defined as the coloring agent which is used to increase the overall aesthetics of the plastic products. Plastics are being widely adopted in an array of end-use industries over the traditional materials due to its properties such as lightweight, strength, and corrosion resistance among others. Hence, the increasing use of plastics among the various end-use industries such as building and construction, automotive, packaging and others is expected to drive the demand for plastic pigments.
The global demand for plastic pigments is driven by the increasing demand for high performance pigments among the plastic producers and compounders across the globe. Polyvinyl Chloride (PVC) is one of the widely used plastic for an array of applications such as pipes, windows, roof profiles, and others. For uniform and efficient coloring of PVC, the compounders and producers opt for micro granulated pigments with properties such as dust free, good flowability, and custom-made solutions that are in synergy with the PVC compounders, which is expected to drive the plastic pigment market demand from supply side.
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Competitive Analysis
Some of the key players in the global plastic pigments market are BASF SE (Germany), Heubach GmbH (Germany), Clariant (Switzerland), Sudarshan Chemical Industries Limited (India), DIC CORPORATION (Japan), Atul Ltd (India), Lanxess (Germany), Mazda Colours Ltd.(India), Tronox Limited (US), and The Chemours Company. Chemours (US).
Market Segmentation
The global plastic pigments market has been segmented by type, resin, application, and region. Based on type, the market has been segmented into organic, inorganic, and specialty pigments. The demand for organic pigments is expected to grow at a highest CAGR during the forecast period, whereas, the inorganic pigments is expected to account for the largest market share in terms of value and volume. This can be attributed to the cost advantage of inorganic pigments over organic pigments and its resistive properties against heat and chemicals when used with polymers. Nevertheless, organic pigments are eco-friendlier and offer rich and brighter tonality to the plastic substrate than inorganic pigment. However, organic pigments tend to have low resistivity against heat and chemicals.
Based on application, the market has been segmented into packaging, automotive, building and construction, consumer goods, healthcare, and others. Packaging accounted for the largest market share during the forecast period owing to the increasing demand for plastics as the most preferred packaging material in the end-use industries such as food and beverages, pharmaceuticals, personal care and others. Furthermore, the increasing adoption of PVC in the building and construction industry is expected to drive the demand for plastic pigments during the forecast period. In addition, the regulations pertaining to the use of color additives in medical plastics is expected to drive the market for plastic pigments during the forecast period.
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Regional Analysis
Based on region, the plastic pigments market has been classified into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the largest share of the plastic pigments market on account of the growing end-use industries such as packaging, pharmaceuticals, construction and others. Also, presence of a considerable number of manufacturers is the region is expected to drive the market demand during the forecast period.
North America is a prominent market for plastic pigments due to the increasing adoption of plastics in the construction industry in the region coupled with the prevailing trend of lightweight automotive in the region is expected to boost the demand for plastics, which in turn is expected to drive demand for plastic pigments.
The European market is expected to grow at a considerable rate during the review period. The stringent regulations pertaining to the use of color additives in the medical plastics and surge in demand for automotive plastics is expected to boost the demand for plastic pigments in the region.
The markets in Latin America and the Middle East & Africa are likely to register substantial growth during the review period as a result of the growing industrial base in these regions.
Intended Audience
Plastic Pigments manufacturers
Traders and distributors of Plastic Pigments
Research and development institutes
Potential investors
Raw material suppliers
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
Nationalized laboratories
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