The global paint pigments market is likely to grow at a notable CAGR between 2022 - 2030, reveals the new Market Research Future (MRFR) report. Pigments are a fine powder that serves as a dye for paints. Every pigment has its physical properties like drying rate, weather resistance, light resistance, hiding powder, tinting strength, oil absorption, among others. Pigments come in a granular solid form that is used in paint for imparting color. They are insoluble and applied in fine powdered forms blended through the binder. These can be both inorganic and organic. Organic pigments include pigments that are synthesized from the aromatic hydrocarbon, while inorganic pigments comprise white opaque pigments used to offer opacity and lighten other colors. Owing to its alluring features and multiple benefits, paint pigments have an array of applications, including architectural products, residential coatings, industrial coatings (aerospace, consumer products, and automotive), specialty coatings, among others.
Various factors are adding to the global paint pigments market share. These factors, as per the new MRFR report, include growing demand for eco-friendly products, burgeoning demand for high performance pigments, growing end user industries, and huge applications, including plastics, printing inks, construction, textile, paints & coatings, and others. Additional factors adding market growth include rapidly growing paint & coating industry, growing demand for organic pigments, a boom in the digital printing industry, increasing investments in research and development, and increasing use of eco-friendly inks such as water-based inks and UV-cured inks.
On the contrary, environmental concerns, volatility in raw material cost, and global overcapacity are factors that may impede the global paint pigments market growth over the forecast period.
The Market Research Future Report provides an inclusive segmental analysis of the global paint pigments market based on forms, mixture, and application.
By forms, the global paint pigments market is segmented into powder and liquid.
By mixture, the global paint pigments market is segmented into pigment, binder, and solvent.
By application, the global paint pigments market is segmented into architectural products, residential coatings, industrial coatings, specialty coatings, and others. Industrial coatings are again segmented into aerospace, consumer products, and automotive.
Based on region, the global paint pigments market report covers the recent trends and growth opportunities across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will lead the market over the forecast period for the rapidly growing construction and automotive industry. More than 60% of commercial and passenger cars are produced in this region. Besides, the availability of raw materials such as steel in abundance, and competitive labor cost are also adding market growth. China is the chief contributor in this region.
The global paint pigments market in Europe is predicted to have healthy growth over the forecast period. Factors propelling the paint pigments market growth in the region include growth in renovation activities, growing environmental awareness, and demand for eco-friendly products to cut down carbon emission and reduce hazardous substances.
The global paint pigments market in North America is predicted to have significant growth over the forecast period while that in the RoW is predicted to have sound growth.
Key players profiled in the paint pigments market report include Dic Corporation, Ei Dupont De Nemours, Evonik Degussa, Shanghai Road Dyestuffs & Chemicals, Synthesia, Sensient Technologies, Clariant, Cabot Corporation, Nippon Kayaku Company, Huntsman Corporation, Dow Chemical Company, and BASF SE. Industry players have incorporated strategies such as strategic alliances, joint ventures, new product launches, extensive R&D activities, mergers and acquisitions, collaborations, and others to create a niche in the market as well as cater to consumers growing needs.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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