Dublin, March 11, 2021 (GLOBE NEWSWIRE) -- The "Global Pigment Market - Global Industry Analysis (2017-2020). Growth Trends and Market Forecast (2021-2025)" report has been added to ResearchAndMarkets.com's offering.
There has been an increased demand for pigment in the global market owing to its wide array of applications in industries such as plastics, construction, textiles, paints and coatings. Paints and coatings are the largest consumers of pigments. They lend the desired finish and color to the surface they are used on. Pigments also safeguard paints against extreme weather conditions and corrosion. Demand for pigments is accelerating due to growing infrastructure, urbanization, plastics and building materials and paint & coatings market. The market is expected to face a shift towards eco-friendly and sustainable products due to stringent regulation of government bodies. Consumers are increasingly changing their preference and becoming more conscious hence, they are choosing eco-friendly alternative color shades.
However, there are certain restrains that can likely hamper the growth of the market in the coming years. Increased raw material prices and energy cost are key factors that can bring challenges in the growth of global pigment market. Furthermore, pigment market is also affected by the environment and regulatory authorities to protect consumers from toxic pollutants. The industry is facing challenges due to these regulations as government bodies are taking strict measures hence, resulting in increased price of organic pigments. Another major restrain faced by the market is maintaining stability in supply of intermediaries and finished product as the market heavily relies on these two.
The 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 rise of new application areas in paint 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 colors in printing ink is rising. Printing ink is consumed by major end users such as leather, paper, and plastic industry.
Asia Pacific is expected to lead the global market as this region is witnessing rise of producers as well as consumers of pigment. The rise in demand and production in this region is due to emerging economies such as China and India. They are the major producers of pigment as the manufacturers are migrating to these countries over the last decades. Asia Pacific meets the regulations for VOCs and lead chromate hence, bolstering the market in this region.
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 color 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.
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 expansion of product portfolio to dominate the market.
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Production Output and Trade Statistics, 2018-2020
4. Price Trends Analysis and Future Projects, 2017-2025
5. Global Pigments Market Outlook, 2017-2025
6. North America Pigments Market Outlook, 2017-2025
7. Europe Pigments Market Outlook, 2017-2025
8. Asia Pacific Pigments Market Outlook, 2017-2025
9. Latin America Pigments Market Outlook, 2017-2025
Companies Mentioned
- Altana AG
- Cathay Industries Group
- Chemours
- DIC Corporation
- Ferro Corporation
- Heubach GmbH
- KRONOS Worldwide Inc.
- LANXESS
- Lomon Billions Group
- TRONOX Holding PLC
- Venator
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