Pigments are finely grounded solid colorants which are added mainly to paints, coatings, printing inks and construction materials to deliver color, opacity and durability. Pigments have applications in decorative paints used to color buildings & homes, printing inks used in publishing industry, industrial coatings to color manufactured products and plastics. The global demand for pigments has been increasing due to growth in construction activities as well as manufacturing sector.
The global pigments market is estimated to be valued at US$ 17.89 Bn in 2024 and is expected to exhibit a CAGR of 19.%over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising demand from paints and coatings industry has been a major growth driver for the global pigments market. Pigments accounts for over 60% of the total demand in the paints industry. The growing construction activities along with recovery in automotive industry post pandemic has accelerated the consumption of decorative as well as industrial paints globally. This has increased the demand for pigments and is expected to propel the market growth over forecast period. Manufacturers are focusing on developing pigments suitable for water based paints and coatings to capitalize on increasing preference for low VOC paints.
Segment Analysis
The global pigments market is dominated by the inorganic pigments segment. Inorganic pigments have conventional synthetic water-insoluble pigments that are made up of metals, metal oxides and salts. They offer several benefits such as resistance to light, heat and chemicals. Due to their durability and ability to withstand harsh conditions, inorganic pigments find wide application in industries like paints & coatings, constructions and plastics.
Key Takeaways
The global pigments market is expected to witness high growth during the forecast period of 2023 to 2030. Global Pigments Market Size is projected to reach US$ 17.89 Bn by 2024.
Regional analysis: The Asia Pacific region currently dominates the global pigments market and is expected to continue its dominance during the forecast period. This is attributed to increasing demand from end use industries like construction and automotive from emerging economies of China and India. China accounts for over 50% of demand in the Asia Pacific region due to presence of a thriving manufacturing sector.
Key players operating in the pigments market are Johnson & Johnson (DePuy Synthes), Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc, NuVasive, Inc., Globus Medical, Inc., Wright Medical Group N.V., Arthrex, Inc., DJO Global, Inc., Össur hf., CONMED Corporation, Breg, Inc., Orthofix Medical Inc., Bioventus LLC.
Get More Insights on this Topic- https://www.dailyprbulletin.com/pigments-market-size-share-and-demand-analysis/
The Business Research Company’s latest report Chemicals Global Market Report 2020 covers Chemicals market drivers, Chemicals market trends, Chemicals market segments, Chemicals market growth rate, Chemicals market major players, and Chemicals market size.
The report provides in-depth analysis of the impact of COVID-19 on the Chemicals industry, along with revised market numbers due to the effects of the coronavirus.View Complete Report:https://www.thebusinessresearchcompany.com/report/chemicals-global-market-report-2020-30-covid-19-impact-and-recovery Chemicals Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.Request for the sample now:https://www.thebusinessresearchcompany.com/sample.aspx?id=1870=smpThe global chemicals market is expected to decline from $3870.4 billion in 2019 to $3726.9 billion in 2020 at a compound annual growth rate (CAGR) of -3.8%.
The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it.
The market is expected to continue declining and reach $3689.4 billion in 2023.The global chemicals market is segmented by type into general chemical product, printing inks, toiletries, soap and cleaning compounds, adhesives, paints and coatings, pesticide and other agricultural chemicals, chemical fertilizers, synthetic rubber and fibers, plastic material and resins, ethyl alcohol and other basic organic chemical, other basic inorganic chemical, synthetic dye and pigment, industrial gas, petrochemicals.
