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The report is titled as ' pigments market : Opportunity Analysis and Future Assessment 2023-2030' . An overview of conceptual frameworks, analytical approaches of the pigments market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The pigments market is expected to grow at a significant rate in the near future.
The global pigments market in 2020 is estimated for more than US$ 24,918.2 Mn and expected to reach a value of US$ 35,372.5 Mn by 2028 with a significant CAGR of 4.5%.
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Pigments Introduction
Pigments are the materials that change color of transmitted or reflected light. Pigments are used for coloring paint, plastic, fabric, cosmetics, food and other materials. The pigment powder is added to a binder, a relatively neutral or colorless material that suspends the pigments and gives adhesion to the paint. They also have high tinting strength, enhances the strength of the paint film and hides substrates. Pigments are widely being used in paint & coating industry, plastic industry, construction & building industry and others.
Pigments Market Dynamics
Increasing applications of specialty pigments in flexible packaging industry coupled with raising awareness about the sustainable environment are driving the pigments market. Moreover, the elevating demand for personalized and individual products and growing demand from end-user industry is further propelling the growth of this market.
Additionally, the advancement in technology followed by the research & developments activities in nanotechnology is also responsible for growing demand for pigments, globally. However, the fluctuating cost of raw materials and strict government norms may hamper the growth of this market.
The global pigments market size is expected to increase at a significant CAGR over the forecast period owing to the elevated consumption of pigments majorly from paint and coating industry followed by plastic industry.
However, the application of pigments for personalized products coupled with renewable feedstock and advancements in technology is also propelling the growth of this market.
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Pigments Market Segmentation
The global pigments market is segmented on the basis of product type, application, and color index.
On the basis of product type, the global pigments market can be segmented into organic pigments, inorganic pigments, and specialty pigments. Organic pigments are further fragmented as azo pigments, phthalocyanine pigment, quinacridone pigment and other organic pigments. Whereas, inorganic pigments can be segmented into titanium dioxide, iron oxide, cadmium pigment, carbon black, chromium oxide, complex inorganic and other inorganic pigments.
Lastly, the specialty pigments segment can be fragmented into classic organic pigments, metallic pigments, high-performance pigments, light interference pigments, fluorescent pigment, luminescent pigments and thermochromic pigments. On the basis of application, the global pigments market share can be segmented into paints & coatings, printing inks, plastics, construction materials and others. On the basis of Color Index, the global pigments market can be segmented into red, blue, green, orange, yellow, brown and others.
Some of the key questions answered in this report:
Which are the five top players of the Pigments Market? How will the Pigments Market change in the upcoming years? Which product and application will take a share of the Pigments Market? What are the drivers and restraints of the Pigments Market? Which regional market will show the highest growth? What will be the CAGR and size of the Pigments Market throughout the forecast period? What is the current market size, what will the market size be in 2030 and what will the growth rate be? What are the challenges to grow in the market? What are the market opportunities and challenges faced by the key vendors? Who are the major competitors and what is their strategy? What are the barriers to entry for new players in the market?
Pigments Market Key Players
Global pigments market is mainly dominated by BASF SE, Cabot Corporation, Clariant International Ltd., DIC Corporation, ECKART GmbH, Ferro Corporation, Heubach GmbH, Huntsman Corporation, Sudarshan Chemical Industries Ltd. and The Shepherd Color Company.
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