06.05.23
Pigments Market Report, published by Allied Market Research (AMR), forecasts that the global market is expected to garner $26,598 million by 2022, growing at a CAGR of 4.1% during the period 2022.
The global pigments market was valued at $20,023 million in the year 2015 with major revenue contributor from paints & coatings application segment. Asia-Pacific holds the leading position in the global market in 2015, and is expected to maintain its lead throughout the study period.
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.
"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,” said Eswara Prasad, team lead, Allied Market Research.
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.
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.
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.
The global pigments market was valued at $20,023 million in the year 2015 with major revenue contributor from paints & coatings application segment. Asia-Pacific holds the leading position in the global market in 2015, and is expected to maintain its lead throughout the study period.
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.
"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,” said Eswara Prasad, team lead, Allied Market Research.
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.
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.
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.
