Key Highlights of Global Pigments Market
· Theglobal pigments market was valued at US$30.35 Bn in 2018 and is anticipated to expand at aCAGR of 4.6% during the forecast period
· Theglobal pigments market is driven by rise in the demand for paints and coatings.
· AsiaPacific accounts for a major share of the global pigments market, due toincrease in the demand for paints and coatings in the region.
Key Drivers of Global Pigments Market
· Paintsand coatings are used to decorate and protect objects that they cover. Paintsand coatings are employed in various end-user industries such as aerospace,automotive, architectural & refinishing, and building & construction.
· Pigmentsused in paints and coatings offer key attributes such as color strength,coverage, durability, chemical inertness, light and weather fastness, and goodenvironmental performance. Pigments have anticorrosive properties that makethem suitable for use in direct-to-metal, automotive, and industrial coatings.
· Rise inpopulation coupled with increase in per capita income has boosted theconsumption of paints and coatings in building & construction, automotive,and consumer goods industries over the last few years. This, in turn, generatedconsiderable demand for pigments in the paints & coatings segment, makingit the leading end-user segment in 2018.
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=905
Surge in production and consumption of plasticsacross the globe to offer attractive growth opportunities
· Plasticsis one of the major consumers of pigments. Pigments form an integral part ofthe plastics industry. Pigments impart unique appearance and styling effect toplastic products. Pigments are employed as colorants in a wide range ofplastics, owing to their excellent compatibility with several types ofplastics.
· Besidescoloring effect and improved aesthetics, pigments increase the stability ofplastics and improve resistance of plastics to climatic conditions such as heatand moisture. Thus, rise in the production of plastics plays a key role indriving the demand for pigments.
· Consumptionof plastics has increased substantially in both developed and developingcountries over the last few years. Factors such as economic growth, rise indisposable income, and rapid urbanization in developing countries such asChina, India, Brazil, and South Africa are projected to drive the demand forplastics during the forecast period.
· AsiaPacific has been a leading consumer of plastics over the last few years.Consumption of plastics is estimated to increase also in developing countriesof Latin America and Middle East & Africa in the next few years. Thus,increase in plastics production is likely to drive the market for pigmentsduring the forecast period.
More Trending Reports
Stringent environmental and health-relatedregulations associated with pigments to hamper pigments market
· Thepigments market is highly influenced by strict government monitoring andhealth-related regulations. These hamper the pigments market. Pigments containheavy metals, which makes them pose a threat for human health and theenvironment.
· Growth ofthe pigments market, especially the inorganic segment, can be hampered byenvironmental effects and toxicity associated with heavy metals used in metaloxides, mixed metal oxides, and metallic pigments.
· Heavymetals include lead, chromium, cadmium, and mercury. Human exposure to thesemetals can cause cancer or liver diseases. Disposal of heavy metals during thepigment production leads to pollution. Prolonged exposure of skilled labor toheavy metals can cause severe occupational hazards.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=905<ype=S
Asia Pacific Dominates Global Pigments Market
· Amongregions, Asia Pacific held a major i.e. 45% share of theglobal pigments market in 2018 and its share is anticipated toincrease during the forecast period, owing to increase in the demand forpigments from China, India, and Japan. Asia Pacific is followed by Europe.
· Demandfor pigments in Europe is increasing and manufacturers are likely to witnesslucrative opportunities in the Europe market, due to increase in constructionactivities and automotive production in the region. North America witnessessignificant demand for pigments.
· The U.S.is considered a highly mature market for pigments in the region. Growingplastics packaging industry, increasing plastics production, and the trend ofdigital printing are expected to boost the demand for printing inks in NorthAmerica during the forecast period.
· Demandfor pigments in Latin America and Middle East & Africa is rising. Severalmanufacturers are striving to expand their business in these regions to caterto the rising demand for paints, automotive refinishes, protective coatings,printing inks, etc. in these regions.
Request Covid19 analysis on this market
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=905
High degree of competition among establishedplayers
· A largenumber of small- and large-scale manufacturers operate in the global pigmentsmarket. These companies offer different types of pigments for variousapplications.
· Keyplayers profiled in the report on the global pigments market are TheChemours Company, CRISTAL, Tronox Limited, BASF SE, LANXESS, ClariantInternational AG, Ferro Corporation, KRONOS Worldwide Inc., Sun ChemicalCorporation, Cathay Industries Group, Heubach GmbH, Gharda Chemicals Limited,Sudarshan Chemical Industries Limited, and Altana AG.
· A largenumber of pigment products are available for different end-user industries.Market players are adopting strategies such as pricing and product improvementto increase their profit margins and strengthen their market position.
About Us
Transparency Market Research is a global market intelligence companyproviding global business information reports and services. Our exclusive blendof quantitative forecasting and trends analysis provides forward-lookinginsight for thousands of decision makers. Our experienced team of analysts,researchers, and consultants use proprietary data sources and various tools andtechniques to gather and analyze information.
Our data repository is continuously updated and revised by a team ofresearch experts so that it always reflects latest trends and information. Witha broad research and analysis capability, Transparency Market Research employsrigorous primary and secondary research techniques in developing distinctivedata sets and research material for business reports.
Contact
Transparency Market Research,
90 Sate Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/
