Key Highlights of Global Pigments Market
·
The
global pigments market was valued
at US$ 30.35 Bn in 2018 and is anticipated to
expand at a CAGR of 4.6% during the forecast period
·
The
global pigments market is driven by rise in the demand for paints and coatings.
·
Asia
Pacific accounts for a major share of the global pigments market, due to
increase in the demand for paints and coatings in the region.
Key Drivers of Global Pigments Market
·
Paints
and coatings are used to decorate and protect objects that they cover. Paints
and coatings are employed in various end-user industries such as aerospace,
automotive, architectural & refinishing, and building & construction.
·
Pigments
used in paints and coatings offer key attributes such as color strength,
coverage, durability, chemical inertness, light and weather fastness, and good
environmental performance. Pigments have anticorrosive properties that make
them suitable for use in direct-to-metal, automotive, and industrial coatings.
·
Rise in
population coupled with increase in per capita income has boosted the
consumption of paints and coatings in building & construction, automotive,
and consumer goods industries over the last few years. This, in turn, generated
considerable demand for pigments in the paints & coatings segment, making
it the leading end-user segment in 2018.
Request PDF brochure
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=905
Surge in production and consumption of plastics
across the globe to offer attractive growth opportunities
·
Plastics
is one of the major consumers of pigments. Pigments form an integral part of
the plastics industry. Pigments impart unique appearance and styling effect to
plastic products. Pigments are employed as colorants in a wide range of
plastics, owing to their excellent compatibility with several types of
plastics.
·
Besides
coloring effect and improved aesthetics, pigments increase the stability of
plastics and improve resistance of plastics to climatic conditions such as heat
and moisture. Thus, rise in the production of plastics plays a key role in
driving the demand for pigments.
·
Consumption
of plastics has increased substantially in both developed and developing
countries over the last few years. Factors such as economic growth, rise in
disposable income, and rapid urbanization in developing countries such as
China, India, Brazil, and South Africa are projected to drive the demand for
plastics during the forecast period.
·
Asia
Pacific has been a leading consumer of plastics over the last few years.
Consumption of plastics is estimated to increase also in developing countries
of Latin America and Middle East & Africa in the next few years. Thus,
increase in plastics production is likely to drive the market for pigments
during the forecast period.
More Trending Reports
Stringent environmental and health-related
regulations associated with pigments to hamper pigments market
·
The
pigments market is highly influenced by strict government monitoring and
health-related regulations. These hamper the pigments market. Pigments contain
heavy metals, which makes them pose a threat for human health and the
environment.
·
Growth of
the pigments market, especially the inorganic segment, can be hampered by
environmental effects and toxicity associated with heavy metals used in metal
oxides, mixed metal oxides, and metallic pigments.
·
Heavy
metals include lead, chromium, cadmium, and mercury. Human exposure to these
metals can cause cancer or liver diseases. Disposal of heavy metals during the
pigment production leads to pollution. Prolonged exposure of skilled labor to
heavy metals can cause severe occupational hazards.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=905<ype=S
Asia Pacific Dominates Global Pigments Market
·
Among
regions, Asia Pacific held a major i.e. 45% share of the
global pigments market in 2018 and its share is anticipated to
increase during the forecast period, owing to increase in the demand for
pigments from China, India, and Japan. Asia Pacific is followed by Europe.
·
Demand
for pigments in Europe is increasing and manufacturers are likely to witness
lucrative opportunities in the Europe market, due to increase in construction
activities and automotive production in the region. North America witnesses
significant demand for pigments.
·
The U.S.
is considered a highly mature market for pigments in the region. Growing
plastics packaging industry, increasing plastics production, and the trend of
digital printing are expected to boost the demand for printing inks in North
America during the forecast period.
·
Demand
for pigments in Latin America and Middle East & Africa is rising. Several
manufacturers are striving to expand their business in these regions to cater
to the rising demand for paints, automotive refinishes, protective coatings,
printing inks, etc. in these regions.
Request Discount
https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=905
High degree of competition among established
players
·
A large
number of small- and large-scale manufacturers operate in the global pigments
market. These companies offer different types of pigments for various
applications.
·
Key
players profiled in the report on the global pigments market are The
Chemours Company, CRISTAL, Tronox Limited, BASF SE, LANXESS, Clariant
International AG, Ferro Corporation, KRONOS Worldwide Inc., Sun Chemical
Corporation, Cathay Industries Group, Heubach GmbH, Gharda Chemicals Limited,
Sudarshan Chemical Industries Limited, and Altana AG.
·
A large
number of pigment products are available for different end-user industries.
Market players are adopting strategies such as pricing and product improvement
to increase their profit margins and strengthen their market position.
About Us
Transparency Market Research is a global market intelligence company
providing global business information reports and services. Our exclusive blend
of quantitative forecasting and trends analysis provides forward-looking
insight for thousands of decision makers. Our experienced team of analysts,
researchers, and consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of
research experts so that it always reflects latest trends and information. With
a broad research and analysis capability, Transparency Market Research employs
rigorous primary and secondary research techniques in developing distinctive
data sets and research material for business reports.
Contact
Transparency Market Research,
90 Sate Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/
Comments
Post a Comment