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Market of the Paint Pigments had been powerful affected by a host of different variables that altogether have a significant impact on market performance and development. Beyond this, it is important to note that the Paint Pigments Market, this powerful force plays a major role in determining the level of growth in the global paints and coatings industry. The aesthetic function of colorants, these elements in the paint and coatings, is supported greatly. The increase in energy efficiency, housing, and infrastructure construction, automotive as well as industrial development across the globe leads to the exponential expansion of the market, thus highlighting the essential part of paint pigments in different fields.
The construction industry is a vital constituent of Paint Product Market. Distribution of Architectural Coatings is vital for Residential and Commercial Infrastructures, hence pigments manufacturers carry a large stock that varies widely in terms of color and tone. The exterior and the interior paints are what add that extra charm to structures and this means that paints that are fade-resistant, durable, and weather resistant will tend to be in high demand.
The automotive industry also represents a major contributor to the automotive sector. Color incorporation is keen on the actual models in the automotive coatings industry. This refers to basecoats, primers, and clear coats which require high performance pigments. Within automotive industry innovation in design and types of customization require durable and weather-resistant paints that the manufacturers have to develop in close cooperation with the producers of pigments.
The industrial coatings share is the biggest contributor to the industry prospect. Industrial paints are applicable in multiple courses of activities such as industrial and civil machines, equipments, pipelines, and infrastructure. Pigments of industrial coatings must have a high-performance quality to be able to withstand demanding environmental conditions, chemicals, and various types of scratches. With the increasing commitment of industries in regard to protecting the assets, there is a boost for the production of pigments that are resistant and have high grade performance in the industrial applications, which contributes to the further growth of the market.
They assume a crystal clear role in geographical factors and regional trends in Paint Pigments Market growth. Economic growth, a surge of constructions and industrialization are the main drivers of demand for pigments that are used for painting different regions around the world. Local favor for particular shades of paint and styles of appearance which give rise to the consumer demand also has an effect on the market. The market adjusts to needs for regional differences in regulations, climates, and aesthetic tastes, seeking out formulations that will be acceptable in different regions with custom requirements.
Technological innovations and processes in manufacture of paint pigments lasting time are key elements in the market of Paint Pigments. On-going reproduction and research bring about the development of pigments that are more humane, offering higher level of performance, excellent dispersion properties, and less environmental impact. Current innovations in pigment technology tackle VOC (volatile organic compound) content issue as well as color stability areas in regards to sustainability, which enable the paint pigments to stay on the top in the market.
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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