A pigment is a coloured substance that is water insoluble or nearly insoluble. Dyes, on the other hand, are usually soluble at some point during their use. Pigments are inorganic substances, whereas dyes are usually organic compounds. Ochre, charcoal, and lapis lazuli are examples of prehistoric and historic pigments.
Around 7.4 million tonnes of inorganic, organic, and specialty pigments were sold globally in 2006. Estimated to be over $14.86 billion in 2018, with a CAGR of more than 4.9 percent from 2019 through 2026. In 2009, the global demand for pigments was estimated to be over US$20.5 billion.According to study from April 2018, the worldwide pigments market is worth $30 billion. Titanium dioxide, which is used to improve the white brightness of numerous products, is worth $13.2 billion per year, whereas Ferrari red is worth $300 million per year.
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