In 2015, the global market for pigments was valued at $17,587.6 million, and it is anticipated to grow at a CAGR of 6.8% during the forecast period. In terms of volume, APAC dominated the global pigments market in 2015. Some of the key factors boosting the market include infrastructure development and rapid industrialization in developing economies of Asia-Pacific. Asia-Pacific is expected to create ample of growth opportunities for the pigment market owing to the growing demand from end user industries including paints & coating, printing ink industry, and automotive and several others. Additionally, the increasing investment along with technological advancements is expected to further augment the pigments market in the region. Moreover, the increasing demand for organic pigments from the cosmetics sector is expected to provide a significant growth to the global pigments market in the coming years.
By type, the global pigment market is categorized into organic pigments, inorganic pigments, and others which are further segmented into their subtypes. In 2015, inorganic segment dominated the market with the largest market share. New application areas for paints and coatings, building materials, and plastics along with rapid urbanization are some of the major factors driving the growth of the inorganic color pigments consumption. Additionally, pigments market is expected to witness a growth with the increasing income level. Moreover, an increase in environmental awareness of organic pigments is steadily replacing the share of inorganic pigment market. Consumers are opting for eco-friendly products, along with enhanced properties and effect that can be achieved even at the cost of higher prices.
Geographically, Asia-Pacific dominated the global pigment market with share of 38.6% by value and 38.3% share by volume. Some of the major factors driving the market in the region include rapid urbanization and industrial development in China, India and Indonesia. Europe is expected to witness slow growth rate owing to decline in infrastructure activities, while North America is expected to witness a steady growth during the forecast period.
Leading players in the global pigment market include Clariant International Ltd., E.I. du Pont de Nemours and Company, ECKART GmbH, BASF SE, Sun Chemical Corporation, Dainichiseika Color & Chemicals Mfg. Co. Ltd., Zhejiang Longsheng Group Co. Ltd., Huntsman International LLC., Lanxess AG, Kronos Worldwide Inc., and others.
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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.
GLOBAL PIGMENT MARKET SEGMENTATION