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.
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Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic
Data
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2018 –
2021
|
|
Estimated Year
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2023
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Forecast
Period
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2024
– 2028
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|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2018-2022
and 2023-2028
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|
Report
coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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|
Segments covered
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Type
Application
|
|
Regional
scope
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North
America, Europe, Asia Pacific, South America, Middle East & Africa
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|
Country scope
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United States, Mexico, Canada, France,
Germany, United Kingdom, Spain, Italy, France, China, India, South Korea, Japan,
Australia, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE
|
|
Key
companies profiled
|
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.
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|
Customization scope
|
10% free report customization with
purchase. Addition or alteration to country, regional & segment scope.
|
|
Pricing
and purchase options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel through Email (We can
also provide the editable version of the report in PPT/Word format on special
request)
|
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).
Global
Pigments Market is an upcoming report to
be released soon. If you wish an early delivery of this report or want to confirm
the date of release, please contact us at [email protected]