Westford, USA,, March 05, 2023 (GLOBE NEWSWIRE) -- The white inorganic pigment market is currently dominated by the Asia Pacific region and is expected to maintain its leading position in the coming years. The growth is driven by several factors, including the growing demand for improved aesthetics and the increasing need for these pigments in the construction industry. The construction of buildings, offices, and public infrastructure has also contributed significantly to the rise in demand for white inorganic pigments. These pigments are used in various industries, such as paints and coatings, plastics, printing inks, cosmetics, etc. Moreover, the manufacturing sector has witnessed a rise in collaborations, which is expected to support the industry's growth.
The paints and coatings industry is anticipated to grow tremendously in the coming years, with the market predicted to surpass USD 222.4 billion by 2028. This growth is set to drive high demand for the white inorganic pigment market, as it is a key ingredient in many paint and coating formulations.
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- Pages - 278
- Tables - 94
- Figures - 71
Inorganic pigments are widely used to provide color, lightness, and opacity to various products. Among these pigments, white inorganic pigments are particularly notable for their ability to provide excellent coverage and brightness. As a result, white inorganic pigments, also known as opaque pigments, are used extensively in manufacturing paints, coatings, plastics, and paper. These pigments impart a bright, clean appearance to these products and also help to improve their durability and resistance to fading.
Prominent Players in White Inorganic Pigment Market
- BASF SE
- EL DuPont de Nemours and Company
- China Hongqiao Group Limited
- Tata Pigments Ltd.
- Heubach GmbH
- Cristal Global
- Ferro Corporation
- PPG Industries, Inc.
- LANXESS
- Venator Materials plc. UK.
- Cathay Industries Group. Kronos Worldwide, Inc. US
- Tronox Limited
- The Chemours Company, US
- Altana AG
- DIC Corporation
- Ferro Corporation
- Huntsman International LLC
Paints and Coatings Segment to Drive Traction Thanks to White Inorganics Pigment, Which Improves Light Scattering Properties of the Coating
According to market research, the paints and coatings industry dominated the white inorganic pigment market in 2021, accounting for the largest share. This trend is expected to continue with a significant compound annual growth rate projected from 2022 to 2028. The growing demand for paints and coatings, particularly in the construction and automotive sectors, is driving the market's growth. The construction sector is a major consumer of white inorganics pigments, as these are used in the production of architectural paints and coatings for interior and exterior applications.
In 2021, the Asia Pacific region established its dominance in the global white inorganic pigment market, a trend that is expected to continue until 2028. The white inorganic pigment industry has experienced significant growth in recent years, with the Asia Pacific region leading the way in production and consumption. As per SkyQuest's report, Japan is experiencing significant growth in planning and constructing tall buildings. Several construction projects are underway, including developing two high-rise towers for Tokyo Stations. The first tower is expected to be 37 stories tall, with a height of 230 meters, and will serve as an office tower. The second tower will be even taller, standing at 61 stories and reaching a height of 390 meters. It is also designed as an office tower and is set to be completed by 2027-2028.
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Titanium Dioxide Segment Emerges as Major Revenue Contributor owing to Its Extensive Application in the Construction and Automotive Sectors
According to market research, the white inorganic pigment market was dominated by the titanium dioxide segment in 2021. Furthermore, the titanium dioxide segment is expected to maintain its lead in the market from 2022 to 2028. This segment captured the largest share of the market due to its high demand and widespread use in various industries. Titanium dioxide is known for its excellent opacity, brightness, and whiteness, making it a popular choice for products requiring white pigment. SkyQuest's market analysis shows that the titanium dioxide sector is expected to surge significantly, with a projected value of more than USD 25.83 billion. This development is projected to impact the titanium dioxide industry as a whole positively. Titanium dioxide is widely used in various industries, including paint, coatings, plastics, and paper.
SkyQuest has recently released a research report that provides in-depth insights into the white inorganic pigment market. Whether you are an established industry player or a new entrant looking to gain a foothold in this market, this report will equip you with the crucial information you need to make informed strategic decisions to help you stay ahead of the competition. In addition, by providing invaluable insights into the latest trends and developments in the global market, the report can help you identify new opportunities and potential threats that may impact your business.
Key Developments in White Inorganic Pigment Market
- Cathay Industries has recently announced that it has entered into a purchase agreement with Venator Materials PLC to acquire its iron oxide pigment business. Venator is a leading global chemical company that produces various products, including pigments and additives. This strategic move is expected to significantly reinforce Cathay Industries' position as a global leader in the inorganic pigment industry and enhance its ability to provide complete color solutions to its customers. In addition, the acquisition of Venator's iron oxide pigment business will provide Cathay Industries with access to new markets and expand its product portfolio, enabling it to offer a broader range of color solutions to its customers.
- Clariant, a renowned global provider of specialty chemicals, has introduced its latest innovation as a universal polymeric dispersing agent. This agent is specially designed for high-quality pigment preparations and can incorporate organic and inorganic pigments. In addition, the dispersing agent is compatible with all types of water-based paint systems, making it a versatile solution for the paint industry. The new product, Dispersogen Flex 100, offers a range of benefits for the paint industry. It improves the dispersion of pigments and provides excellent color strength, which leads to superior color performance in finished products.
- Consumer Product Testing (CPT) is introducing an innovative way to estimate ocular irritation potential by offering a vegan in vitro test method known as the Irritection Assay System. This quantitative test measure changes in relevant macromolecules to predict the ocular irritancy of chemicals, mixtures, and product formulations. By leveraging this cutting-edge technology, companies can gain valuable insights into their products' safety while demonstrating their commitment to sustainability and ethical practices.
Key Questions Answered in White Inorganic Pigment Market Report
- What are the major challenges and opportunities in the global market, and how are they impacting its growth trajectory?
- How has the global market evolved, and what key drivers have influenced its historical performance?
- Who are the most promising players in the global market, and what key strategies are they employing to gain a competitive edge?
- What new trends are emerging in the global market, and how are they expected to shape its growth and innovation prospects?
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