Increasing demand for automobile coatings is thought to play a critical role in positively shaping growth. Superior properties such as intense heat and light tolerance, longer working life, and improved rapidity distinguish high-performance pigments, making them valuable for a wide range of applications across multiple industries. Automotive adhesives are a critical application area, and as a result, the demand for high-performance pigment is greatly influenced. Increased demand for automotive adhesives appears to be having a positive effect on productivity as a result of recent increases in automotive sales. To meet rising consumer demands, sector participants have taken a number of primary strategic steps, such as capacity expansion and the launch of superior high-performance goods. However, when compared to their conventional counterparts, such high-performance products are significantly more expensive.
In the HPPs market, Asia Pacific is the largest and fastest growing region. This is due to rapid growth in the automotive, cosmetics, and other sectors, particularly in emerging markets like India, China, and South Korea. The region's cosmetics end-use industry is rapidly expanding, creating a favourable growth environment for the High Performance Pigments Market. For example, according to the International Trade Association, the cosmetics market in South Korea was valued at US$ 7.1 billion in 2016, while total local production and exports increased by 8.2 percent and 61.6 percent, respectively, over 2015.
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