Inorganic Pigments Market

Inorganic Pigments Market Overview

Inorganic Pigments market size is forecast to reach US$17.3 billion by 2027, after growing at a CAGR of 4.8% during 2022-2027 owing to their usage in paints and coatings. Inorganic pigments are insoluble solid materials that do not contain carbon and improve the appearance of or give color to a medium. They consist of dry ground minerals, usually metals and metallic salts. Because of their composition, inorganic pigments are usually more opaque and more insoluble than organic pigments. Inorganic pigments are preferred for their lightfastness and low cost. Inorganic pigments tend to be a popular choice in the industry and the most commonly used pigments are titanium dioxide, carbon black, and iron oxide. They impart a palette of colors such as red, blue, green, yellow, brown, black, orange, purple, etc. Inorganic color pigments are used worldwide for coloring in paints & coatings, inks, food, cosmetics, and plastics among others. The growth of the construction industry is expected to drive the growth of the inorganic pigments market during the forecast period.

COVID-19 Impact

The COVID-19 pandemic was a disaster of epic proportions that crippled economies and brought them to a complete standstill. Many industries are still reeling from its effect. Several manufacturing plants were shut down due to lockdowns and enforced stay-at-home mandates. However few industries remained resilient, the plastic industry, for instance. The early days of COVID-19, when attention was focused on the potential spread from surfaces, proved to be a particular boon for plastic bags. Plastics’ stability is also due to its perception of being resistant to COVID-19 transmission. According to a year-end report by the American Chemistry Council, plastic was the only segment of the U.S. chemistry industry to expand in 2020. Production of plastic resins, the building blocks of all plastic products, increased by 0.9% in the U.S. in 2020. As inorganic pigments are widely used in plastics, the pandemic had a moderate impact on the inorganic pigments market.

Report Coverage

The report: “Inorganic Pigments Market - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the Inorganic Pigments Market.

By Type: Titanium Dioxide, Iron Oxide, Cadmium, Carbon Blank, Lead Chromate, Chromium Oxide and Others

By Colour: Red, Yellow, Orange, Green, Blue, Black, White, and Others

By Chemistry: Oxide, Silicate, Carbonate, Sulphate, Sulphide, and Others

By Grade: Food Grade, Pharmaceutical Grade, Industrial Grade, and Others

By Form: Powder and Liquid

By Application: Plastics, Paints & Coatings, Printing Inks, Glass & Ceramics, Cosmetics, Paper Industry, Pharmaceuticals, Food Industry, and Others

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

• Asia-Pacific dominates the Inorganic Pigments market, owing to the increasing construction activities in the region. According to Invest India, by 2025, construction output is expected to grow on average by 7.1% each year.
• Inorganic pigments such as titanium dioxide, silicates, oxides, carbonates and hydroxides are used as colorants in pharmaceuticals to help identify and distinguish medicines.
• Inorganic pigments are used widely in paints and coatings where apart from being used as a colorant they also, improve the strength and adhesion of the paint.

The titanium dioxide segment held the largest share in the inorganic pigments market in 2020. Pure titanium dioxide is a fine, white powder that provides a bright, white pigment. Titanium dioxide has a wide range of applications in industrial and consumer products, paints and coatings, adhesives, paper, plastics and rubber, printing inks, coated fabrics and textiles, ceramics, floor coverings, roofing materials, cosmetics, toothpaste, soap, water treatment agents, pharmaceuticals, food colorants, automotive products, sunscreen, and catalysts. Pigment grade titanium dioxide accounts for over 98% of total production. Pigment-grade titanium dioxide is used in a range of applications that require high opacity and brightness. It can help minimize the brittleness, fading, and cracking that can occur in plastics, it is used in cosmetics to hide blemishes and brighten the skin, and it is used to coat paper, making it whiter, brighter, and opaque. Owing to its uses across different industries titanium dioxide is expected to dominate the market during the forecast period.

The white pigments segment held the largest share up to 25% in the inorganic pigments market in 2020. In paints and coatings, white pigments are the major contributors to formulations. They are used in white paints to make it look brighter. Apart from white paints, they are also used in colored paints to give a lighter shade. The available white pigments used in paints and coatings are white lead (lead carbonate), zinc oxide, antimony oxide, and titanium dioxide. The use of white lead has been restricted in paints and is no longer permitted due to toxicity issues. Titanium dioxide is the most common white pigment followed by zinc sulphide. Zinc sulphide is also widely used due to its brilliant white color, extremely fine texture, and relatively cheaper cost. Hence, white pigments are set to dominate the inorganic pigments market.

The oxide segment held the largest share of more than 20% in the inorganic pigments market in 2020. Iron oxide, zinc oxide, titanium dioxide, and chromium oxide are the commonly used inorganic oxide pigments. Iron oxide pigments, also known as iron-oxide earth pigments, comprise of both oxides and oxide hydroxides of iron. This group of pigments create earthy ochres, siennas, and umbers found most commonly in paints. Hematite is the most common iron oxide used for red-tone colors like sienna, while hydroxide goethite is found in yellow-tone ochres. Iron and manganese oxides are used to produce brown-tone umbers. Titanium dioxide is also known as titanium white. It is the most widely used white pigment because of its brightness and very high refractive index. In the 19th century, chromium oxide was used as enamel in porcelain factories, and in paintings. In the modern market, chromium compounds are used to produce vibrant yellows, oranges, and greens. Based on all these applications, the oxide segment is set to fuel the market growth of inorganic pigments.

The pharmaceutical grade held a significant share in the inorganic pigments market in 2020 and is expected to grow at a CAGR of 5.1% during the forecast period. Many inorganic pigments are used in the pharmaceutical industry as colorants. The most common inorganic colorants for pharma are titanium dioxide, silicates, oxides, carbonates, and hydroxides. Opaque film coatings are possible with inorganic pigments. These colorants are highly dispersible and come with a prescribed amount of minerals after rigorous testing. Titanium dioxide is commonly used as pigment for pharmaceutical products such as gelatin capsules, tablet coatings, and syrups. Whether it is used to add whiteness or accentuate the boldness of other colors, titanium dioxide helps tablets stand out for both medical professionals and patients so that they are able to differentiate them. It is an essential component of the protective coating necessary to preserve the safety, efficacy, and quality of the active pharmaceutical ingredient, and provide shelf-life stability. Titanium dioxide offers protection for photosensitive ingredients, which could be damaged by visible light, and also ingredients that may be vulnerable to Ultraviolet (UV) light degradation. Iron oxide or ferric oxide red as it is known in the pharma industry is a coloring agent for tablets and capsules. Therefore, the pharmaceutical grade is set to fuel the growth of the inorganic pigments market.

The powder segment held the largest share of more than 65% in the inorganic pigments market in 2020. Inorganic pigments are colored, black, white, or fluorescent particulate solids which usually are insoluble in, and essentially physically and chemically unaffected by, the vehicle or substrate in which they are incorporated. They alter the appearance by selective absorption and by scattering of light. They are usually dispersed in vehicles or substrates for application, as for instance in the manufacture of inks, paints, plastics, or other polymeric materials. Inorganic pigments are cost-effective, they have a simple production process and give a higher yield than organic pigments. They also exhibit excellent light resistance, heat resistance, etc. Inorganic pigments are suitable for architectural coatings, glass, ceramics, rubber, and plastics coloring. They are brightly colored, insoluble powders that are mixed with binders to attach them to a substrate. The resulting suspension, a paint, is used to coat materials and impart color onto them. Inorganic pigment powders are added to orange and potato skins, sausage casings, baked goods, candies, carbonated drinks, gelatin desserts, powdered drink mixes, and many other foods. Based on all these applications, the powder form is set to dominate the market during the forecast period.

The paints and coatings segment held the largest share in the inorganic pigments market in 2020 and is growing at a CAGR of 4.6% during 2022-2027. Inorganic pigments are used in paint formulations to impart color, hide substrate and obliterate previous colors, improve the strength of the paint film, improve the adhesion of the paint film, reduce gloss and reduce the cost. White pigments are the major contributors to paint formulations. All white pigments are inorganic compounds of titanium, zinc, antimony, or lead. Currently, titanium dioxide is the most widely used white pigment in paints. A growing interest in various types of surfaces, such as industrial coating, coil coatings, floor coatings, marine coatings, automotive coatings, and can coatings, drives the market for inorganic pigments in paints & coatings segment. Colored pigments are used for color consistency and uniformity. Iron oxide is the most commonly used red pigment as a protective priming coat for steel rather than in paints. Yellow iron oxide gives opaque films high exterior durability. Calcium carbonate is the most widely used extender pigment. It is used throughout the range of water and solvent-based paints for both interior and exterior applications. Hence, paints and coatings are set to drive the inorganic pigments market.

The Asia-Pacific region held the largest share in the Inorganic Pigments market in 2020 up to 40%, owing to the growing construction activities in the region. The demand for construction materials has been increasing across the globe particularly in the Asia-Pacific region, owing to the continuous rise in demand for housing. The Malaysian government to further encourage Malaysians to purchase their first home, in Budget 2021, proposed to waive the stamp duty on the instruments of transfer and loan agreements for the purchase of first residential homes up to 2025. In Japan, the construction of US$19 billion Chuo Shinkansen Maglev Rail Line is underway, with Phase 1 construction from Nagoya to Tokyo expected to be operational in 2027. In 2020, China started investing in new infrastructure programs. The pandemic propelled China to move rapidly towards a digital economy. New infrastructure has become essential in this process. The construction of a 5G network is a very promising investment. In this regard, 20 Chinese provinces in March 2020 decided to invest in this project, which includes industrial modernization and the introduction of innovative technologies. Digital technologies can help transform the agriculture, and construction industries. Therefore, it is important for China to quickly implement the construction of new infrastructure. A number of new information infrastructure projects related to artificial intelligence, 5G, and industrial internet have been launched in China. Due to the active growth of construction, demand and prices for building materials increased. According to the State Committee for the development and reform of the people's Republic of China, cement production in August this year increased by 6.6% in annual terms compared to July 2020, and in the same period last year, its growth rate was 3.6%. Inorganic color pigments are used as colorants in various construction materials. This boosts the demand for inorganic color pigments in the construction materials sector. Thus, with the growing building and construction industry, there will be an upsurge in the demand for paints and coatings, which is anticipated to drive the inorganic pigments market in the Asia-Pacific region.

Inorganic Pigments Market Drivers

Growth of Plastic Industry

A driver for the growth of the inorganic pigments market is the growth of the plastics industry. The unique and advantageous properties of plastics have enabled the material to be used as a substitute for wood, paper, and rubber. Inorganic color pigments are widely employed in the production of polymers that are used in the manufacture of plastic products. Iron oxide, chrome oxide, carbon black, oxide pigments, and ultramarine are the commonly used inorganic pigments in plastic. Carbon black is an important and versatile ingredient for plastics compounders. It contributes colour, opacity, electrical conductivity, and protection from ultra-violet degradation. While the demand for plastics has declined from the automotive sector due to COVID-19, there has been growth in the packaging industry. The increasing demand for packaging materials from the food and beverage industry is driving plastic consumption worldwide as plastic acts as a barrier between food and the environment thus minimizing food spoilage and contamination. According to the Indian Brand Equity Foundation (IBEF), the plastic industry in India deals with more than 2,000 exporters. As of March 2021, India exported plastics raw materials worth USD 280.38 million, while the total export for the financial period April 2020 to March 2021 stood at USD 3.29 billion. An increase in plastic production acts as a driver for the inorganic color pigments market during the forecast period.

Flourishing Pharma Industry

From pink and yellow to blue and green, capsules and tablets are now available in a variety of colours. It helps the medical practitioner and pharmacists to identify the medicine. Inorganic pigments used in the pharma industry also make it easier for patients to gulp down medicine that otherwise looks unappealing for consumption. Bleed-resistant grade pigments are used in pharma to avoid spillage of contents due to the ingredients in the colour. The high stability of inorganic pigment colours and high particle dispersion make it a popular choice for the manufacture of pharma products. These inorganic pigments are non-toxic and have no physiological activity on the drug. Some of the applications of inorganic pigments in medication include the use of red and yellow iron oxide to give calamine a flesh colour, and the use of titanium dioxide in hard gelatin capsules to colour and opacify them. Thus, it is anticipated that with the flourishing pharma industry, there will be an upsurge in the demand for inorganic pigments market growth during the forecast period.

Inorganic Pigments Market Challenges

Regulation of Titanium dioxide

Titanium dioxide meets the most stringent of requirements governing the safety of medicines, including those set by the European pharmacopoeia, Japanese pharmacopoeia, and US pharmacopoeia. Titanium dioxide is identified by E171 in the food industry on the food standards additive list, governed by the European Food Safety Authority (EFSA). As a non-toxic mineral and food additive, the EFSA officially governs the use of E171 and declared it safe to ingest in September 2016, and reaffirmed its position in June 2018. In France, E171 was banned in 2021, based on evidence generated in rat studies, although the French Agency for Food, Environmental and Occupational Health & Safety (ANSES) has said that this cannot be applied to humans. After conducting a review of all the relevant available scientific evidence, EFSA concluded that a concern for the genotoxicity of titanium dioxide particles cannot be ruled out. Based on this concern, EFSA’s experts no longer consider titanium dioxide safe when used as a food additive. This could have a snowball effect on the pharmaceutical and cosmetic industry in Europe. Such factors have become a challenge for titanium dioxide and also affect the inorganic pigments which constrain the growth of the market.

Inorganic Pigments Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Inorganic Pigments market. Inorganic Pigments market top companies include:

• EI du Pont de Nemours and Company
• LANXESS
• Ferro Corporation
• BASF SE
• Huntsman International LLC
• DIC Corporation
• Heubach GmbH
• Cristal Global
• Tronox Limited
• Rockwood Company, LLC

Acquisitions/Technology Launches

• In August 2021, LANXESS completed the acquisition of the U.S.-based specialty chemicals manufacturer Emerald Kalama Chemical for US$ 1.04 billion. The acquisition strengthens Lanxess' portfolio for the plastics, paints, and coatings as well as adhesives industries.

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