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The Paint Pigments industry is represented by numerous market drivers stepping in to determine if the growth would be maintained, affecting the diversified field of applications from coatings, automotive and industrial sector. Certain pigments, for instance, are of utmost importance due to their presence in a variety of merchandize in terms of productivity, opacity, and longevity. The accelerating demand is also one of the key factors that account for the market dynamics in coatings industry. Pigmentation is an essential element of the composition of paints and coatings, stabilizing not only surface aesthetics but also making them more resistant to various external factors. Paint pigment manufacturers undoubtedly receive a high increase in demand and sales that the development in the coating industry brings due to building activities and renovation projects.
To begin with, the automotive industry being a major force of influence on the Paint Pigments market’s market dynamics. Automotive coatings, in particular car bodypaintings exterior and interior use pigments in colors, glycol and durability levels. With technological improvements in automotive appearance, color trends, and the need for more sophisticated coatings and additives, this four-lane road becomes an evolving landscape in the market of paint pigments.
The adherence to regulatory standards and environmental viewpoints determine which way Paint Pigments market will drastically change the market dynamics. Regulations related to the use of specific pigments, volatile organic compound (VOC) emissions and product safety mandate the manufacturers rethink their products by devising environmentally friendly alternatives. As a way of responding to environmental concerns, paint industries create pigment manufacturing formulations that have low-VOC count and are environment friendly in line with global efforts to promote sustainable process.
Cost efficiency, which primarily comes under these factors, effects markets in the Paint pigments industry. Industries are actively searching for value-for-money pigments that yields quality color, corrosion resistance, and excellent performance. Pigment efficacy stays vital for pigment producers whether they are competing with other producers or their end-users. Instead, cost-effectiveness becomes crucial for both producers and consumers to thrive in pigment market.
The gas market is an additional influencing factor in the macroeconomics of Paint Pigments. The performance of economic conditions have impacts on the construction sector, car production and more diverse industries that heavily rely on pigments extracted from paint. The pattern of demand for a wide range of pigments makes the market tied to the economic landscape, which directly or indirectly governs the progress of the sector.
Proceeding in combination with the technical progressions, the rapidly growing nature of the market of Paint Pigments is very evident. On-going research and production make it possible to find new pigment compositions, introduce enhanced color matching and come up with sturdy pigment dyes. With these technological breakthroughs specialists are able to respond to the needs of industries and thrive solutions from coming up with pigment instability, resistance and environmental impact.
Paint Pigments Market Highlights:
Paint Pigments Market Overview
Paint Pigments Market Size was valued at USD 28.44 Billion in 2022. The Paint Pigments industry is projected to grow from USD 28.62 Billion in 2023 to USD 43.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.3 % during the forecast period (2023 - 2032).
Infrastructure spending is likely to boost paint pigments market during the forecast period. Globally, the paint & coating market is boosting the overall market which in turn has created a platform for paint pigment manufacturers to cover the market.
In February 2023, Brilliant Group, Inc. signed a partnership agreement with Terra Firma of DKSH to allow Terra Firma to sell their world-famous fluorescent and phosphorescent pigments.
Regional Analysis
Geographically, Asia-Pacific is expected to be the fastest growing as well as the largest market for paint pigment where China’s contribution to the overall market has created several opportunities to the local as well as global players. North America and Europe would stand second and third rank in terms of value and volume.
Paint Pigments Market Size by Region, 2015 (USD Million)
Study Objectives of Paint Pigments Market:
- To provide detailed analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the paint pigments market
- To provide insights about factors affecting the market growth
- To analyze the Paint Pigments market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia-Pacific, and Rest of World.
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segments by forms, mixture, applications and regions
- To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global market
Market Segmentation 
Key Players for Paint Pigments Market:
Some of the key players in this market are BASF SE, Dow Chemical Company, Huntsman Corporation, Nippon Kayaku Company, Cabot Corporation, Clariant, Sensient Technologies, Synthesia, Shanghai Road Dyestuffs & Chemicals, Evonik Degussa, Ei Dupont De Nemours, Dic Corporation and others.
Recent News
February 2023- Brilliant Group, Inc. signed a partnership agreement with Terra Firma of DKSH to allow Terra Firma to sell their world-famous fluorescent and phosphorescent pigments.
February 2023- Heritage Color Companies (a subsidiary of Vivify Specialty Ingredients) acquired Reitech Corporation, which manufactures and supplies water-based pigment dispersions.
After BASF Coatings invested in further expanding its automotive refinish coatings production capacity in Jiangmen City, Guangdong Province, South China, it can produce up to around 30 thousand metric tonnes per year since completing the expansion at its site this July 2022.
DIC Corporation opened its new plant Optima for liquid ink manufacturing at Saykha in Bharuch district, Gujarat, in March 2022. The factory covers an area of 92,500 square meters, and the initial capacity is more than 10 thousand tons per year (TF toluene-free) / KF/NTNK (ketone-free), liquid ink for two shifts during phase one.
In April, Kronos Worldwide Inc. announced that it has partnered with Brazil's leading distributor Additiva, under a strategic partnership where they will distribute titanium dioxide pigments throughout Brazil.
Cathay Industries completed the acquisition of Venator’s Iron Oxide Pigment Operations as a global environmentally friendly manufacturer specializing in comprehensive inorganic pigment solutions in November 2022.
Two pigments were introduced by Sudarshan Chemical Industries Limited under their organic pigments portfolio that can be used as plastics and coating applications this December 2022.
DIC Corporation has announced its second-phase agreement with Debut Biotechnology, Inc., on natural red pigments for nutrition food cosmetic applications in July 2022.
Target Audience
- Manufactures of end-use industry
- Raw material Suppliers
- Aftermarket suppliers
- Research Institute / Education Institute
- Potential Investors
- Key executive (CEO and COO) and strategy growth manager
Additional Information
- Regulatory Landscape
- Pricing Analysis
- Macroeconomic Indicators
Geographic Analysis
- Geographical analysis across 20 countries
Company Information
- Profiling of 10 key market players
- In-depth analysis including SWOT analysis, and strategy information of related to report title
- Competitive landscape including emerging trends adopted by major companies
The report for Global Paint Pigments Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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