According to Fairfield Market research, the global pigments market is anticipated to grow from US$30.1 Bn in 2017 to US$40.2 Bn by 2025. Noticeably, the market is steadily paving its way towards fruition at a CAGR of 4.6%. Automotive and plastic industries are likely to be key growth enablers for the pigments market, whereas, commercial products such as 3D printing materials are envisaged to observe a sharp spike in sales.

Key Highlights

• Rise of urbanization and increased infrastructure to boost demand for pigment market.
• Market is expected to face restrains owing to strict regulations.
• Asia Pacific will lead the global market as it has the largest consumer base. 
• Key players are actively investing in the expansion of the product portfolio to dominate the market. 

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In recent times, the usage of pigments has been gaining strong ground across the automotive and construction industries. Pigments effectively shield critical structures and protect them against extremely harsh weather conditions and corrosion. In addition to this, pigments also provide an aesthetically pleasing look, enhancing the external appearance of products. Moreover, since pigments are insoluble, they offer exceptional strength to painted products. Notably, rapidly growing urbanization has dramatically increased the prevalence of construction and renovation activities across the globe. This has surged the demand for pigments owing to their enhanced resilience and robust strength. In the near future, the demand for visually appealing structures is expected to accelerate the sales of painted surfaces, creating favorable growth prospects for the pigments market

Demand for Eco-friendly but Vibrant Colours Dominates Global Pigments Market

Analysts report that the demand for vibrant colours will dominate the global pigments market in the coming years as the global aesthetic shifts with young homeowners. However, the demand is also being guided by the ongoing eco-friendly trend. The demand for using green construction and building materials is pushing players in the global pigments market to develop better and newer chemistries. The use of nanoparticles and nanotechnology is also expected to improve the sales of pigments in the coming years. Analysts anticipate that the paints and coatings segment will dominate the global pigments market. As of 2019, the segment was valued at US$14,138.8 Mn and is expected to continue to lead during the forecast period.

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Paint and coating industry segment is expected to lead the global market as this segment has the largest consumer base for pigments. The pigment market growth is flourishing due to the rise of new application areas in paints and coatings industry. Urbanization is one of the biggest factors bolstering the demand in the market. Building materials is a key factor supporting the demand. Moreover, modern painting industry is also accelerating the demand for paint and coating industry segment as demand for high-quality pigment and colours in printing ink is rising. Printing ink is consumed by major end users such as leather, paper, and plastic industry.  

Asia Pacific Emerges as Leading Regional Segment in Global Pigments Market

Asia Pacific is expected to lead the global pigments market in the coming years as the construction and building activity gains momentum. Infrastructural development across India and China are expected to lead the regional market. Furthermore, the strong presence of manufacturing companies in these countries also bodes well for the region. Demand for decorative coatings is expected to shoot upwards as the sale of residential properties sees investments from new home buyers. Improving disposable incomes in emerging economies has been identified as the key growth factor for the Asia Pacific pigments market.

The key payers operating in the global pigment market are investing in enhancing their product portfolio with advanced technologies. Key players are engaging in research and development to produce superior quality of colour that is less harmful to the environment. Additionally, the players are also adopting technological collaborations to increase the efforts in research and development activities for the company. Few of the key players in pigments market are Venator, Lomon Billions, Chemours, LANXESS, Tronox, Kronos Worldwide Inc., Altana AG, DIC Corporation, and Heubach GmbH among others.

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