(MENAFN- Ameliorate Digital Consultancy)
The market for pigments provides information on product price, associated business risks, a thorough analysis of technological issues, the viability of technologically advanced products, and other topics. From 12 Mn tonnes in 2021 to 31 Mn tonnes in 2031, the demand is projected to grow at a CAGR of 5.4%, according to this market report.
The increased use of pigments in a variety of products, such as paints and coatings, printing inks, building materials, etc., is credited with increasing demand. By the end of 2031, according to FactMR's analysis of the market, the company will have surpassed a net valuation of almost US$ 45 billion.
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Due to high demand from the construction, paints & coatings, and printing inks industries, the company has now experienced a quick turnaround. The construction industry is seeing significant investments from emerging nations like India, Malaysia, Thailand, and the Philippines. These projects call for the use of pigments in the building materials.
Pigments are primarily used in the production of paints and coatings in order to achieve desired level of colour and surface finish. In addition, these pigments are also enabling paint and coating users to safeguard surfaces against corrosion and extreme weather conditions, thus creating a dollar opportunity of US$ 256 Mn for themselves.
Key Players Covered:
Chemours TRONOX Holding PLC Venator Lomon Billions Group KRONOS Worldwide Inc. LANXESS DIC Corporation Altana AG Heubach GmbH Ferro Corporation Cathay Industries Group
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Competitive landscape
Companies are launching new products to align their offerings with changing consumer behaviors and sentiments, new government legislation, and environmental policies.
In 2019, Venator launched its pigment product line for boosting solar reflectance and ultra-low moisture applications to be used in the plastics industry. Croda recently introduced an effect pigment for meeting all consumer preferences in the personal care industry.
Pigments Market Key Segments
By Product Type
Inorganic Pigments Titanium Dioxide Iron Oxide Carbon Black Chromium Compounds Others
Organic Pigments
Azo Phthalocyanine Quinacridone Others
Specialty Pigments
Classic Organic Metallic High performance organic Light Interference Complex Inorganic Fluorescent Luminescent/phosphorescent Thermochromic Others
By Application
Paints & Coatings Printing Inks Plastics Construction Materials Others
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Some of the important questions covered in this study are as follows:
What are the prominent growth factors that will harness growth for the Pigments Market during the forecast period
Which end-use industry will garner considerable growth for the Pigments Market?
Which region will emerge as a champion growth contributor during the assessment period?
What are the obstacles surrounding the Pigments Market?
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