Pigments Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Inorganic, Organic and Specialty), By Inorganic Type (Titanium Dioxide, Carbon Black, Iron Oxide, and Others), By Organic Type (Phthalocyanine, Azo Pigments, HPP, and Others), By Specialty Type (Metallic, Pearlescent, and Others), By Application (Paints and Coatings, Plastics, Printing Inks, Construction and Others), By Region, and by Competition

Global pigments market is anticipated to grow appreciably in the forecast period of 2028 due to the increasing construction activities, the growing automotive sector, and changing consumer preferences and aesthetics. Furthermore, growing demand for specialized pigments for cool-colored coatings, increased use of pre-dispersed pigments, shifting of preference towards organic pigments, and rising demand for high-performance pigments are the technical advantage that propels the demand for pigment globally. Apart from these, rising demand from growing economies, particularly in Asia-Pacific, Latin America, and the Middle East, introduces a substantial prospect for the growth of the global pigments market. Rapidly growing industrialization, increasing disposable incomes, and rising consumer awareness about the aesthetic appeal of products contribute to global pigments market growth in these regions.

Pigments are substances that provide color to various materials through selective absorption and reflection of light. They are finely ground particles that are insoluble in the medium they are incorporated into, such as paints, inks, plastics, textiles, cosmetics, and others. Pigments are widely used in the paints and coatings industry to provide color, opacity, and durability. They are used in architectural paints, industrial coatings, automotive coatings, and decorative finishes. Pigments are also essential components of printing inks, including that used in offset printing, flexography, gravure printing, and screen printing. They stipulate vibrant colors and good lightfastness for numerous printed materials, such as magazines, packaging, newspapers, labels, and more.

Pigments are employed in plastics to give them color, enhance their appearance, and make them visually appealing. They are used in a wide range of plastic products, including consumer goods, packaging materials, automotive parts, toys, and household items. It is utilized in the textile industry for dyeing and printing fabrics. They offer a wide range of colors and are often used in applications where colorfastness and wash-fastness are important, such as in apparel, home textiles, and upholstery. Hence, all the above-mentioned factors are expected to propel the global pigment market growth in the forecast period.  

Rising Demand for Paints & Coatings from Different Industries such as Automotive, Construction, etc. is Driving the Global Pigment Market

The rising demand for paints and coatings from industries such as automotive, construction, and consumer goods generates a significant need for pigments. The pigment market experiences growth as it caters to the increasing requirements of these industries by providing color, aesthetics, protection, and functionality in various applications.

The growing demand for paints and coatings in industries like automotive and construction directly translates into increased consumption of pigments. Pigments are the key components that provide color, opacity, and various functional properties to paints and coatings. As the demand for paints and coatings rises, the need for pigments to achieve desired colors and performance characteristics also increases, driving the growth of the pigment market.

The automotive industry is a major consumer of paints and coatings, utilizing them for various applications such as vehicle exteriors, interiors, and components. In 2022, it is estimated that around 85.4 million cars were produced worldwide, an increase of 5.7% compared to 2021. The increasing production of automobiles, driven by factors like rising disposable incomes, urbanization, and demand for vehicles, leads to a higher demand for automotive coatings. Pigments are crucial in automotive coatings to provide vibrant colors, UV resistance, durability, and visual appeal. The growth of the automotive industry directly boosts the demand for pigments.

The construction industry relies heavily on paints and coatings for a wide range of applications, including architectural coatings, protective coatings, and decorative finishes. As construction and infrastructure development activities increase, driven by factors such as population growth, urbanization, and government investments, the demand for paints and coatings also rises. Pigments play a vital role in providing color, aesthetics, and protection in these coatings, leading to an increased demand for pigments.  Apart from new construction, renovation, and maintenance projects also contribute to the demand for paints and coatings. As existing structures require repainting or refurbishment, the need for coatings and pigments arises. Renovation projects in residential, commercial, and industrial sectors, as well as maintenance activities for infrastructure, contribute to the sustained demand for pigments in the market.

Additionally, consumer demand for aesthetically pleasing and durable products further drives the growth of the pigment market. Industries such as furniture, consumer electronics, appliances, and household goods rely on coatings to enhance visual appeal, protect against wear, and tear, and provide longevity. Pigments are essential in achieving desired colors, surface finishes, and durability, meeting the expectations of consumers. The increasing focus on customization and unique color options also fuels the demand for a wide variety of pigments. Owing to above mentioned factor it is expected that the demand for pigment is expected to propel market growth.

Shifting Preference Towards Organic Pigments is the Key Reason Thrusting the Market Demand

The shifting preference towards organic pigments is indeed a key reason driving the market demand in the pigment industry. Organic pigments are derived from natural sources or synthesized through organic chemical processes, making them generally less harmful to the environment and human health compared to certain inorganic pigments. This shift in preference is driven by increasing awareness of the environmental impact and health risks associated with certain inorganic pigments that may contain heavy metals or other hazardous substances. Organic pigments offer a more sustainable and safer alternative, aligning with the growing focus on environmentally friendly and health-conscious practices.

Governments and regulatory bodies across the globe are implementing stricter regulations and standards regarding the use of certain pigments, especially those containing heavy metals. These regulations aim to minimize environmental pollution, reduce toxicity risks, and ensure safer products. As a result, there is a growing demand for organic pigments that comply with these regulations, driving the market for organic pigments.

The availability and advancements in organic pigment technology have also contributed to their growing market demand. Manufacturers have invested in research and development to expand the range of organic pigments available, offering a wider variety of color options, improved performance characteristics, and better stability. The advancements in organic pigment production processes have also resulted in higher quality, consistency, and cost-effectiveness, making them more appealing to end-users.

Organic pigments provide a wide range of vibrant and intense colors, which are highly desired in various industries, including paints, coatings, plastics, textiles, and cosmetics. These pigments offer excellent color strength, color fastness, and light stability, allowing manufacturers to achieve attractive and long-lasting color effects in their products. Additionally, organic pigments can be customized and blended to create unique shades and color palettes, meeting the growing demand for customization and differentiation in consumer products.

The demand for organic pigments is driven by the growth of specific market segments that prefer or require organic options. For example, the organic cosmetics and personal care market has experienced significant growth, with consumers seeking natural and organic ingredients. Organic pigments meet this demand by providing safe and vibrant color options for cosmetics. Similarly, the organic food packaging sector has seen an increase due to consumer preferences for sustainable packaging materials and non-toxic colorants, which further boosts the demand for organic pigments.

The shifting preference towards organic pigments is driven by a combination of environmental concerns, regulatory requirements, advancements in technology, aesthetic considerations, and the growth of specific market segments. As a result, the market demand for organic pigments continues to increase as industries seek safer, more sustainable, and customizable color solutions. Hence, all these factors are expected to drive the demand for Pigments in the market.

Technological Advancement in the Pigments Market

Proper dispersion of pigments in various mediums is crucial for achieving desired color intensity and uniformity. Advancements in dispersion techniques, such as bead milling, ultrasonication, and high-pressure homogenization, have improved the efficiency and effectiveness of pigment dispersion. These techniques ensure better pigment distribution and stability, resulting in improved color development and performance in end products.

Environmental regulations and the demand for more sustainable products have driven advancements in solvent-free and low-VOC (volatile organic compound) pigments. These pigments are designed to reduce or eliminate the use of harmful solvents, which are associated with air pollution and health risks. Low-VOC pigments are used in water-based systems, powder coatings, and other environmentally friendly applications.

Technological advancements have led to the development of smart and functional pigments that can change color or exhibit specific properties in response to external stimuli such as light, heat, or pH. These pigments are used in applications like security printing, sensor technology, and smart coatings, where their unique properties provide added functionality and value.

High-performance pigments are a class of organic pigments that exhibit superior performance characteristics compared to traditional pigments. HPPs offer advantages such as excellent lightfastness, heat stability, chemical resistance, and durability. They are widely used in demanding applications, including automotive coatings, industrial coatings, plastics, and printing inks. Advances in synthesis techniques and chemical structures have expanded the range and performance of high-performance pigments.

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Recent Developments

• In 2022, Heubach and SK Capital acquired Clariant Pigments for $2.6 billion. This deal created a leading global provider of organic pigments, pigment preparations, and dyes.
• In 2021, Sun Chemical and DIC Corporation finalized the acquisition of BASF’s global pigments business. The transaction, which was announced in August 2019, was valued at USD 1.17 billion. The acquisition brings together the complementary portfolio of technologies, products, manufacturing assets, supply chain, and customer service of the two companies to serve customers globally.

Market Segmentation

Global pigments market is segmented based on type, application, and region. Based on type, the global pigment market is segmented into inorganic, organic, and specialty pigments. Based on inorganic pigment, the global pigment market is divided into titanium dioxide, carbon black, iron oxide, and others. Based on organic pigment, the global pigment market is divided into phthalocyanine, azo pigments, HPP, and others. Based on Specialty pigment, the global pigment market is divided into metallic, pearlescent, and others. Based on application, the global pigment market is categorized into printing inks, paints & coatings, plastics, and others. Based on region, the global pigment market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Company Profiles

BASF SE, Huntsman International LLC, Tronox Limited, LANXESS AG, Ferro Corporation, E.I. Du Pont De Nemours & Co., DIC Corporation, Orion Engineered Carbons S.A., Silberline Manufacturing Co. Inc., and Tata Pigments Ltd are some of the key players of global pigments market.

Report Scope:

In this report, global pigments market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

•  Pigments Market, By Type:
• Inorganic Pigment
• Organic Pigment
• Specialty Pigment
• Pigments Market, By Inorganic Type:
• Titanium Dioxide,
• Carbon Black
• Iron Oxide
• Others
• Pigments Market, By Organic Type:
• Phthalocyanine
• Azo Pigments
• HPP
• Others
• Pigments Market, By Specialty Type :
• Metallic
• Pearlescent
• Others
•  Pigments Market, By Application:
• Paints & Coatings
• Plastics
• Printing Inks
• Construction
• Others
• Pigments Market, By Region:
• North America
• United States
• Mexico
• Canada
• Europe
• France
• Germany
• United Kingdom
• Spain
• Italy
• Asia-Pacific
• China
• India
• South Korea
• Japan
• Australia
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in the global  Pigments market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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