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The global pigments market is likely to be driven by demand coming from building and construction industry.
April 19, 2022
By: DAVID SAVASTANO
Editor, Ink World Magazine
The global pigments market continues to be on a steady growth. With the construction industry’s quick revival post-pandemic, pigments are likely to regain their momentum in terms of demand growth. A new Fairfield Market Research study forecasts steady growth of around 4.6% for the pigments market between 2021 and 2025. Estimated to reach the valuation of US$40 billion by the end of 2025, global pigments market is likely to be predominantly driven by demand coming from building and construction industry. The report suggests that the swelling packaged food industry, and solid e-commerce expansion will collectively favor the growth of pigments market during the period of forecast. With urbanization, the boom around new construction, redevelopment, and infrastructural projects continues to firm up. Besides safeguarding structures and protecting them against corrosion and extreme weather conditions, pigment sales will heighten for the desirable aesthetics that they offer painted surfaces. While demand for specialty and high-performance pigments remains high in automotive and plastic industries, sales will also receive an impetus from the soaring demand for commercial products such as 3D printing material. Expansion of the digital printing industry is also expected to bode well for market growth. Organic pigment sales are likely to pick up with growing preference for eco-friendly materials in building and construction, automotive, and printing activities. On the other side, titanium dioxide (TiO2), and carbon black remain the top-sought inorganic pigment categories in market.
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