Press Release

Global Pigments Market to Surpass US$ 45.5 Billion by 2025

Published On : 2018-10-05

Global Pigments Market Size was valued at US$ 33.2 billion in 2017, according to a new report published by Insights and Reports.

Global Pigments Market is expected to show constant rise during the forecast period due to rising demand for improvement in infrastructure, coupled with increased adaptability of organic and inorganic, high-quality pigments and colorants by major industries such as automotive, construction, and packaging. Significant growth in the automotive industry triggered the demand for advanced automobiles, and this will generate additional demand for superior-quality protective coatings which have properties such as temperature-resistance and anti-corrosive.

Increasing expansions of pigment manufacturing facilities by key players like BASF and DIC Corporation, along with development of innovative pigments and colorants by other market players like Hoover Color Corporation, Cristal, Lonsen, CPS Color AG will further trigger the global pigments market over the projected period. However, stringent regulations due to harmful effects posed by some pigments such as lead chromate and lead sulfochromate can restrict the growth of global pigments market.

Global inorganic pigments market will surpass US$ 26.10 billion by the end of 2025, increasing from US$ 18.93 billion in 2017, at a CAGR more than 4.1%. This is majorly attributed by the growth in demand of Titanium dioxide, carbon black and iron oxide inorganic pigments, majorly in the automobile parts. Among specialty pigments, metallic and fluorescent pigments are expected to rise at a faster pace over the forecast period, owing to their increased demand in automobile painting, along with rising need for aesthetic enhancement in infrastructure.

Global pigments market for paint & coatings will cross US$ 25.6 billion by 2025, from US$ 18.3 billion in 2017, majorly attributed by the escalation in the product demand from automotive Original Equipment Manufacturers (OEMs), due to high aesthetical and shielding properties of these pigments. The product demand in construction industry is majorly driven by increasing requirement for renovation activities, which will drive the global pigments market for construction.

Key Takeaways:

  • Europe pigments market was over US$ 11.64 billion in 2017, and is projected to reach US$ 16.24 billion by 2025, at over 4.3% CAGR. The growth is attributed by the continuous growth in the automotive sector, majorly contributed by Germany
  • Asia Pacific pigments market is expected to grow significantly over the forecast period due to rise in population in the major countries like China and India, which further escalated the demand for construction activities in the developing economies
  • Leading players in the global pigments market include Lanxess AG, Cabot Corporation, BASF SE, Atlanta AG, Clariant AG, Merck Group, Lonsen, DIC Corporation, and Pidilite Industries Limited.

Strategies:

  • In July 2018, Ferro Corporation, a leading supplier of technically advanced color and coatings solutions, announced the expansion of its manufacturing facility in Giradota, Colombia in order to meet the demand for its high-performance ultramarine Blue and Iron oxide pigments.
  • In February 2017, Tronox Limited, announced the acquisition of TiO2 business of Cristal, a global chemical and mining company, through a definitive agreement to boost the sale of its Alkali business, and to expand its global reach.