London, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Significant demand generated from key end-use industries like paints and coatings, leather, plastics, and paper, continues to drive sales of pigments worldwide. Fairfield Market Research in its recently released report states that the global pigments market has been progressing at a stable pace and the trend will continue throughout the period projection, 2021 – 2025. Manufacturers of printing inks are also likely to generate sizeable demand for pigments, in turn driving the growth of market in the near future. Exhibiting the estimated growth of over 4.5% during the stipulated period, pigments market is projected to reach the revenue of around US$40 Bn by 2025 end.
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Key Research Insights
- Global pigments market size to expand at a steady 4.6% CAGR during 2021 - 2025
- Sales of TiO2 sales dominant, accounting for over 65% of global pigment demand
- Demand from paints and coatings industry accounts for more than 50% of global pigment demand
Insights into Segmental Analysis
Global pigment production volume reached around 10 MT in 2018 and titanium dioxide recorded to be the bestselling inorganic pigment category. Besides, iron oxide, and carbon black were also estimated to be among the widely used inorganic pigments in global pigments market. While TiO2 continues to hold its dominance in terms of sales that account for over 65% share of the total demand, the market will also witness gradual rise of the other two segments, i.e., organic, and specialty pigments. Moreover, eco-friendly pigments are also likely to gain traction given the growing interest of consumer industries worldwide. In terms of end-use, pigment consumption by paints and coatings manufacturers is expected to account for more than half the global demand. While this is clearly attributable to rapid expansion of the building and construction industry, printing inks also represent an attractive category for manufacturers of high-quality pigments.
Key Report Highlights
- Growing urbanization remains the key enabler as modern printing industry demands high-quality pigments, and colours and pigments for greater efficacy
- Plastics, and printing inks represent the next key demand generators, following paints and coatings
- Specialty pigments picking up, eco-friendly pigments garner attention worldwide
Insights into Regional Analysis
Asia Pacific remains a significant market for pigment manufacturers. Being the leading producer, and well as consumer, Asia Pacific will continue to retain its dominance throughout the period of projection. China, and India especially are expected to be housing the major producers and the regulatory compliance will remain a vital factor influencing the market growth, especially when it comes to production of lead chromate, and volatile organic compounds (VOCs). A heavily regulated industry, pigments market largely relies on the Chinese markets for finished products, as well as intermediaries. Substantial gains are expected from decorative coatings. On the other side, pigments market in North America, and Europe will largely benefit from industrial coatings.
Key Players in Global Pigments Market Space
DIC Corporation, KRONOS Worldwide Inc., Venator Materials PLC, Clariant, and The Chemours Company
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REPORT SCOPE :
| Report Attributes | Details |
| Base Year | 2020 |
| Forecast Year | 2021 - 2025 |
| Market Size in 2021 | US$33.4 Bn |
| Estimated Market Size in 2025 | US$40.2 Bn |
| CAGR | 4.6% (2021 - 2025) |
| Key Players | Chemours, TRONOX Holding PLC., Venator, Lomon Billions Group, KRONOS Worldwide Inc., LANXESS, DIC Corporation, Altana AG, Heubach GmbH, Ferro Corporation, Cathay Industries Group |
Market Segmentation
Product Coverage
Inorganic
- Titanium Dioxide
- Iron Oxide
- Carbon Black
- Chromium Compounds
- Misc.
Organic
- Azo
- Phthalocyanine
- Quinacridone
- Misc.
Specialty
- Classic Organic
- Metallic
- High performance organic
- Light Interference
- Complex Inorganic
- Fluorescent
- Luminescent/phosphorescent
- Thermochromic
- Misc.
Application Coverage
- Paints & Coatings
- Printing Inks
- Plastics
- Commodity
- Engineered
- Construction Materials
- Misc.
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Product-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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