The global pigment market was valued at $17,587.6 million in 2015, and it is expected to grow at a CAGR of 6.8% during 2016 - 2022. The major factors driving the growth of the market globally include rapid industrialization and growing infrastructure development, majorly in Asia-Pacific and developing economies. Asia-Pacific is anticipated to create significant growth opportunities for the growth of the global pigment market. The significant growth of the paint & coating, print & ink industries, automotive and others in the region is driving the demand of pigments. The continuous investment in these industries and technological developments is also expected to drive the demand for pigments in Asia-Pacific. The growing demand for organic pigments, cosmetics, along with increasing end user industry is further expected to boost the growth of the pigment market during the forecast period.
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Based on type, the global pigment market has been segmented into inorganic pigments, organic pigments, and others which are further segmented into their subtypes. The inorganic segment accounted for the largest market share among the other types in the global pigments market in 2015. The major factors driving the growth of the inorganic color pigments consumption include growth in urbanization, developing new application areas for paints and coatings, building materials, and plastics. The pigment market is anticipated to witness major growth in developing countries, owing to rise in income levels. The increasing environmental awareness of organic pigments is slowly replacing the share of inorganic pigment market. The consumers are looking at eco-friendly products, along with enhanced properties and effect that can be achieved even at the cost of higher prices.
In 2015, Asia-Pacific held the largest share in the global pigment market with 38.6% share in terms of value and 38.3% in terms of volume. The rapid urbanization and growing industrial development are expected to be the factors contributing to the growth of the market particularly in China, India and Indonesia. North America is expected to witness steady growth, while Europe is expected to witness slow growth rate, owing to decline in infrastructure activities. Middle East & Africa is expected to grow significantly, owing to the rapid growing construction industry.
The information and data in the publication “Global Pigments Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. Bottom-up approach has been used to calculate the market size. P&S Intelligence analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
Some of the major competitors in the global pigment market include BASF SE E.I. du Pont de Nemours and Company, Lanxess AG, Huntsman International LLC., Sun Chemical Corporation, Zhejiang Longsheng Group Co. Ltd., Clariant International Ltd., ECKART GmbH, Dainichiseika Color & Chemicals Mfg. Co. Ltd., Kronos Worldwide Inc., and others.
GLOBAL PIGMENT MARKET SEGMENTATION