The Pigments Market is Expected to Reach US$ 48.3 Billion by 2030

Pigments Market: Introduction

Reports and Insights deliver key insights on the global pigments market. In terms of revenue, the global pigments market is estimated to expand at a CAGR of 4.1% during the forecast period and expected to reach at a value of US$ 48.3 Bn by the end of year 2030, owing to numerous factors, regarding which Reports and Insights offer thorough insights and forecasts in its report on the global pigments market.

Pigments are insoluble materials used to impart protection from weathering, UV, and other environmental stress and aesthetic looks to paints, plastics, cosmetics, inks, and many others. Being colorful in appearance, these are classified into organic and inorganic pigments. These pigments show a wide range of industrial applications including paints and coatings, automotive, construction and electrical and electronics, etc.

There are several factors that have driven the market for pigments globally. Some of these factors include increased demand for paints and coatings in automotive industries for the production of vehicle parts, and uprising demand from construction industries owing to rapid urbanization and increased population. Furthermore, increased demand from consumers for eco-friendly products has added to the increasing market for pigments globally.

Market Report Outlook

This report on the pigments market aims to discuss market dynamics, including market drivers, potential threats and challenges to the market, pigments market opportunities for the major players, pigments market trends, market segmentation outlook, regional outlook, pigments market size, market forecast, market share, as well as the major players operating in the pigments market.

Pigments Market: Dynamics

Due to the increased demand for paints and coatings used in the automotive, and construction industries, the manufacturing market for pigments has witnessed a rapid upsurge. This is attributable to the use of pigments in the formulation of paints, plastics, and coatings. In addition, the printing industries and packaging industries have flourished in terms of growth, productivity, and economy, owing to easy availability, and reduced cost per unit over wood and paper industries. Since pigments are the key components used in printing inks and packaging industries, this has driven the market for pigments globally.

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Pigments Market: Regional Outlook

North America, Asia-pacific, Europe, Latin America, the Middle East, and Africa are a few of the key regional areas to understand the global expansion of the market for pigments.

Asia-Pacific region accounted for the major share of the growth rate of the pigments market across the globe. Increased urbanization, increased population, and an increasing number of factories and small-scale industries in developing economies such as China, and India, have led to the increased use of pigments, especially in the automotive sector and construction industries.

The North American pigments market is growing significantly and held the second-largest share in its manufacturing. High investment in R&D will pave the market to accelerate significantly in terms of revenues. Also, increasing consumers’ awareness of environmental safety has urged manufacturers to produce sustainable and eco-friendly products. These above-discussed factors are anticipated to propel the global market for pigments.

Pigments Market: Key Players

Some of the important key players prevailing in the global pigments market include BASF SE, DIC Corporation, Huntsman Advanced Material LLC, Ferro Corporation, Heubach GmbH, Lanxess, Colorfix Limited, Kebotix, Algiknit Inc., Clariant, Tronox Limited, Sun Chemical Corporation, KRONOS Worldwide Inc., Chemours Company, CRISTAL, Cathay Industries Group, and many others.

Recent Developments by Key Players:

  • In August, 2022, Sun Chemical launched a mid-shade golden aluminum-based pigment “Paliocrom Satin Gold EH 3600 (L 2131, having features including high chroma, and a smooth appearance. Satin Gold gives excellent gloss levels and a unique color for the thin film thickness of automotive basecoats
  • In June 2022, Heubach, a global color solutions provider, expanded its notable Colanyl 500 pigment preparations range with Colanyl Orange H5GD 500 to explain orange color shades.

 

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