Pigments are black, white, or colored, organic or inorganic insoluble solids, which are unaffected physically or chemically by the substrate in which they are incorporated. Incorporation is done by dispersing them on the substrate. Pigments alter the color of the reflected or transmitted light by selective absorption, and also impart color to the medium in which they are dispersed.
The world pigments market is anticipated to reach $26,598 million by 2022 compared to $20,023 million in 2015 growing at a CAGR of 4.1% during the forecast period. It is segmented based on product type, application, color index, and geography. The rise in construction activities, infrastructural development, automotive, and consumer goods sector has resulted in the increased demand for decorative paints and coatings, which boosts the demand for pigments in the paints & coating industry. In addition, pigments have gained increased adoption in the plastic industry owing to the rise in consumption of plastics in end-user industries such as automobile and construction sectors. In terms of applications, the market is categorized as paints & coatings, printings inks, plastics, construction materials, and others. The global pigments market is on a continuous rise due to growth in paints & coatings industry in developing countries such China, India, and Brazil.
Based on the product type, pigments are segmented as organic, inorganic, and specialty. Inorganic pigments dominated the global pigments market in 2015, owing to their advantages such as high heat and weather resistance, flame retardance, high light fastness, and antistatic benefits.
Based on the color index, pigments are segmented as red, orange, yellow, blue, green, brown, and others. Color index classification system was introduced to nomenclate the pigment names that are derived from the chemical structures of the pigments.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific led the market in 2015, and is anticipated to maintain this trend during the forecast period, due to the increase in demand for pigments in construction sector. Moreover, the rise in per capita plastic consumption in emerging economies of China and India is projected to drive the demand for pigments in the plastic industry in Asia-Pacific.
The companies profiled in the report include:
The Shepherd Color Company
Clariant International Ltd.
Sudarshan Chemical Industries Ltd.
KEY MARKET BENEFITS:
The report provides an in-depth analysis of the current trends, drivers, and dynamics of the world pigments market to elucidate the prevailing opportunities and the probable investment pockets.
It offers qualitative trends as well as quantitative analysis from 2014 to 2022 to assist the stakeholder to understand the market scenario.
In-depth analysis of the key segments demonstrates the consumption of pigments in different applications across various industries.
Competitive intelligence highlights the business practices followed by key business players across the geographies as well as the prevailing market opportunities.
Key players are profiled along with the strategies and developments, which portrays the competitive market outlook.
KEY MARKET SEGMENTS:
Global Pigments Market is segmented as:
Paints & Coatings
BY PRODUCT TYPE
Other Organic Pigments
Other Inorganic Pigment
Classic Organic Pigments
Light Interference Pigments
BY COLOR INDEX
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models
CHAPTER 2. EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3. MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top winning strategy
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET DYNAMICS
188.8.131.52. High adoption of specialty pigments in flexible packaging
184.108.40.206. High demand for individuality and personalization of products
220.127.116.11. Increased awareness regarding sustainable environment
18.104.22.168. Growing market of end user industries in emerging economies
22.214.171.124. Volatility in Raw Material Pricing
126.96.36.199. Government regulations
188.8.131.52. Renewable feedstock
184.108.40.206. Advancement in nanotechnology
3.5. TECHNOLOGICAL TRENDS
3.5.1. Nano-pigment technology
3.5.2. Use of bio-based raw materials
3.5.3. Cool pigments
3.5.4. Computer simulation and pigment selection
3.5.5. Easily dispersible pigment technology
3.6. PATENT ANALYSIS
3.6.1. Patent Analysis by Region
3.6.2. Patent Analysis by Company
CHAPTER 4. WORLD PIGMENTS MARKET, BY PRODUCT TYPE
4.1.1. Market size and forecast
4.2. ORGANIC PIGMENTS
220.127.116.11. Azo pigments
18.104.22.168. Phthalocyanine pigments
22.214.171.124. Quinacridone pigments
126.96.36.199. Other organic pigments
4.2.2. Key market trends
4.2.3. Key growth factors and opportunities
4.2.4. Market size & forecast
4.3. INORGANIC PIGMENTS
188.8.131.52. Titanium dioxide pigments
184.108.40.206. Iron oxide pigments
220.127.116.11. Cadmium pigments
18.104.22.168. Carbon black pigments
22.214.171.124. Chromium oxide pigments
126.96.36.199. Complex inorganic pigments
4.3.2. Key market trends
4.3.3. Key growth factors and opportunities
4.3.4. Market size & forecast
4.4. SPECIALITY PIGMENTS
188.8.131.52. Classic Organic Pigments
184.108.40.206. Metallic pigments
220.127.116.11. High-performance organic pigments
18.104.22.168. Light interference pigments
22.214.171.124. Fluorescent pigments
126.96.36.199. Luminescent pigments
188.8.131.52. Thermo-chromic pigments
4.4.2. Key market trends
4.4.3. Key growth factors and opportunities
4.4.4. Market size & forecast
CHAPTER 5. WORLD PIGMENTS MARKET, BY APPLICATION
5.1.1. Market size & forecast
5.2. PAINTS AND COATINGS
5.2.1. Market size & forecast
5.3.1. Market size & forecast
5.4. PRINTING INKS
5.4.1. Market size & forecast
5.5. CONSTRUCTION MATERIALS
5.5.1. Market size & forecast
5.6.1. Market size & forecast
CHAPTER 6. WORLD PIGMENTS MARKET, BY COLOR INDEX
6.1.1. Market size & forecast
CHAPTER 7. WORLD PIGMENTS MARKET, BY GEOGRAPHY
7.1.1. Market size and forecast
7.2. NORTH AMERICA
7.2.1. Key market trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast
7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast
7.3.8. Rest of Europe
7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast
7.4.7. Rest of Asia-Pacific
7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3. REST OF LAMEA
CHAPTER 8. COMPANY PROFILES
8.1. THE SHEPHERD COLOR COMPANY
8.1.2. Key Strategic Moves &Developments
8.2. CLARIANT INTERNATIONAL LTD
8.2.2. Operating Business Segments
8.2.3. Business Performance
8.2.4. Key Strategic Moves &Developments
8.3. HUNTSMAN CORPORATION
8.3.2. Operating Business Segments
8.3.3. Business Performance
8.3.4. Key Strategic Moves & Developments
8.4. DIC CORPORATION
8.4.2. Operating Business Segments
8.4.3. Business Performance
8.4.4. Key Strategic Moves & Developments
8.5. ECKART GMBH
8.5.2. Business Performance
8.5.3. Key Strategic Moves & Developments
8.6. BASF SE
8.6.2. Operating Business Segments
8.6.3. Business Performance
8.6.4. Key Strategic Moves &Developments
8.7. CABOT CORPORATION
8.7.2. Operating business segments
8.7.3. Business performance
8.7.4. Key Strategic Moves &Developments
8.8. SUDARSHAN CHEMICAL INDUSTRIES LTD.
8.8.2. Operating business segments
8.8.3. Business performance
8.8.4. Key Strategic Moves &Developments
8.9. HEUBACH GMBH
8.9.2. Key Strategic Moves &Developments
8.10. FERRO CORPORATION
8.10.2. Operating business segments
8.10.3. Business performance
8.10.4. Key Strategic Moves & Developments
Growth of the automotive and construction material industry is expected to fuel the market growth during the forecast period. High adoption of specialty pigments in flexible packaging, increasing demand for customization and personalization of products, the market growth of end user industries and growing awareness regarding sustainable environment drive the world pigments market. Advancements in the nanotechnology and ongoing trend of developing sustainable organic pigments from renewable feedstock are expected to offer major opportunities to the world pigments market. Stringent regulations implemented by government organizations to check the compliance of pigments with proposed standards to minimize environmental issues and prevent volatility in the pricings of raw materials are expected to affect the growth of the world pigments market during the forecast period.
Pigments are added in paints & coatings to impart colors, improve their quality, and performance. It controls bleeding of paints, and does not blend into other color layers. They are less susceptible to environmental factors and oxidizing gases, and exhibit UV resistant properties due to their high refractive index. They can withstand high temperature, light, abrasion, moisture, acids, alkalis, and other chemicals.
Rapid urbanization in the emerging economies, such as India, China, Brazil, and others, have led to upsurge in civil construction activities and manufacturing automobiles, which is a key driving factor of the paints & coatings industry. In 2015, paints & coatings application segment accounted for two-fifths share of the market in terms of value, and is expected to maintain its dominance throughout the forecast period. Moreover, upsurge in commercial and residential construction activities in the emerging economies, such as India and China, drive the pigments market in the Asia-Pacific region.
Key findings of the Pigments Market
Pigments in paints & coatings application segment occupied the highest share in 2015, and is expected to grow at a CAGR of 4.6% in terms of value during the forecast period.
China is the leading consumer of pigments accounted for three-fifths of the Asia-Pacific market, followed by India
The titanium dioxide pigment segment is expected to expand with the highest CAGR of 4.1% in the inorganic pigments type segment in terms of value during the forecast period.
U.S. is the leading market for pigments in the North American region, growing at a CAGR of 4.2% in terms of value during the forecast period.
Asia-Pacific accounted for the largest share in the global pigments market in 2015 and is expected to maintain its leading position. This is attributable to increase in building & construction and automotive segment and improvement in economy. China is the fastest growing country for the consumption of pigments, which is expected to continue this dominance.
The key players operating in the world pigments market have adopted diverse strategies such as product launch, expansion, acquisition, joint venture, partnership, and investment to gain competitive advantage in this market. The prominent players profiled in this report include The Shepherd Color Company, Clariant International Ltd., Huntsman Corporation, DIC Corporation, ECKART GmbH, BASF SE, Cabot Corp., Sudarshan Chemical Industries Ltd., Heubach GmbH, and Ferro Corporation.
The other companies of the pigments market are CPS Color AG, Kronos Worldwide Inc., LANXESS AG, CRISTAL, Tronox Ltd., Lonsen, RIKA Technology Co., Ltd., Dainichiseika Color & Chemicals Mfg., Co., Ltd., and Toyo Ink Mfg. Co. Ltd.