The market for the market is expected to grow more than a CAGR of over 6% during the forecast period. Growing demand from the paints and coatings industry is expected to drive the growth of the market.
Stringent government regulations are expected to hinder the growth of the market in the forecast period.
China dominated the market across the Asia-Pacific with the largest consumption. This is primarily due to the rising demand for paints & coatings from various industries.
Key Market Trends
Increasing Demand from Paints and Coatings
With the steady growth of the construction sector, the demand for paints and coatings has been increasing in numerous countries, across the world, thereby increasing the demand for vibrant shades/pigments.
Southeast Asia is expected to be a major construction market, in the years to come. According to Global Construction 2030 (published by Global Construction Perspectives and Oxford Economics), Southeast Asia’s construction market is anticipated to exceed USD 1.0 trillion, by 2030.
This prediction is underpinned by global geopolitical trends that see the BRIC region making way for ICASA (India, China, Africa, and Southeast Asia), to be the world’s new economic epicenter.
With the increasing demand for paints and coatings, there is a rise in the production of paints and coatings, in the region. This, in turn, is also driving the demand for the market studied.
China is Expected to Dominate the Market in the Asia-Pacific Region
China is the largest manufacturer of coatings in the Asia-Pacific region, even when the entire coating industry was more or less slowing down in most of the regions.
Despite the volatile growth in the real estate sector, the significant development of rail and road infrastructure by the Chinese government to withstand the expanding industrial and service sectors, has resulted in a significant growth of the Chinese construction industry in the recent years.
As the construction industry is dominated by state-owned enterprises, the increased government spending is boosting the industry in the country.
Hence, with the growth in the various industries in the country, the consumption of paints and coatings, plastics, and textiles is increasing, which in turn, is expected to drive the demand in the market studied during the forecast period.
Competitive Landscape
The Asia-Pacific pigments market is consolidated. The major companies include BASF SE, Clariant, The Chemours Company, Venator Materials PLC, and Lanxess, among others.
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Stringent government regulations are expected to hinder the growth of the market in the forecast period.
China dominated the market across the Asia-Pacific with the largest consumption. This is primarily due to the rising demand for paints & coatings from various industries.
Key Market Trends
Increasing Demand from Paints and Coatings
With the steady growth of the construction sector, the demand for paints and coatings has been increasing in numerous countries, across the world, thereby increasing the demand for vibrant shades/pigments.
Southeast Asia is expected to be a major construction market, in the years to come. According to Global Construction 2030 (published by Global Construction Perspectives and Oxford Economics), Southeast Asia’s construction market is anticipated to exceed USD 1.0 trillion, by 2030.
This prediction is underpinned by global geopolitical trends that see the BRIC region making way for ICASA (India, China, Africa, and Southeast Asia), to be the world’s new economic epicenter.
With the increasing demand for paints and coatings, there is a rise in the production of paints and coatings, in the region. This, in turn, is also driving the demand for the market studied.
China is Expected to Dominate the Market in the Asia-Pacific Region
China is the largest manufacturer of coatings in the Asia-Pacific region, even when the entire coating industry was more or less slowing down in most of the regions.
Despite the volatile growth in the real estate sector, the significant development of rail and road infrastructure by the Chinese government to withstand the expanding industrial and service sectors, has resulted in a significant growth of the Chinese construction industry in the recent years.
As the construction industry is dominated by state-owned enterprises, the increased government spending is boosting the industry in the country.
Hence, with the growth in the various industries in the country, the consumption of paints and coatings, plastics, and textiles is increasing, which in turn, is expected to drive the demand in the market studied during the forecast period.
Competitive Landscape
The Asia-Pacific pigments market is consolidated. The major companies include BASF SE, Clariant, The Chemours Company, Venator Materials PLC, and Lanxess, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned
A selection of companies mentioned in this report includes:
- Altana AG
- BASF SE
- Clariant
- DIC Corporation
- Lanxess
- Pidilite Industries Ltd
- Sudarshan Chemical Industries Limited
- The Chemours Company
- Tronox Holdings PLC
- Venator Materials PLC
- Wellton Chemical Co. Ltd
Methodology
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