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The market of the Paint Pigments is observed to be changing by such trends as the increasing demand for pigment, which are ecologically friendly and, hold the high-performance, innovations in the technology of color, and the development of the construction and automotive industries. The pigments that make up the paints and coatings are the key elements responsible for effecting the sophisticated designs of aesthetic appeal, to achieve the extra layer of durability, and to aid in environmental sustainability. Consumers' awareness regarding using eco-friendly and non-toxic compounds, as well as integration of implementation in manufacturing sustainable and LOVA (volatile organic compounds)-free recipes also play a key role in the foreseeable future. As the global paint and coating industry embarks on the journey to roll out greener, sustainable solutions to meet the demand for environmentally-friendly options, the market for paint pigments is also undergoing a transformation that sees the rise of biological, natural and hazard-free pigment alternatives.
Improvement in the color tech sector is another factor that is contributing to changes in this industry. The drive for inventing pigments with the high performance vis-Ã -vis color intensity and stability as these pigments are stably resistant to adverse environmental inputs is making major adjustments in the current market. The need for brighter and longer-lasting color performances in architectural paints, automotive painted and industrial coatings, is fueling the R&D activity that searches for pigments to match different industry applications.
The construction and automotive industries serve as the significant sources accelerating changes in the area of Paint Pigments Market. These industries are amongst the key contributors to the augmented demand for pigments and paints meant for architectural coatings, automotive paints, and protective coatings, particularly in developing countries. The need for pigments with characteristic of, for instance, corrosion resistant, and UV as well as weatherability is booming, in terms of the need of increasingly demanding end performance in these fields.
Changes in market rates of Paint Pigments remain constant due to the consumers' ongoing search for specially-made colors. The consumer and companies are developing to the customized and eccentric palettes. That is a leading cause of an increase of the need for new color pigments. The capability of functioning as a central factor is now accounted for by the possibility of making tailor pigments to match colors for different applications, thus leading to a trend in the pigment manufacturing industry with the terminology ‘a broad range of color options and customization services’.
Within the industry, companies working together or in partnerships are recognized as exciting hot developments. Paint pigment manufacturers are actively engaging in business interactions by merging forces with a goal of increasing their market share, transferring technology secrets, and expanding the frontiers of business opportunities. The collaborations thus, help in the growth development as well as progress of the Paint Pigments Market which makes it to be dynamic by involving diversified industrial activities and meeting the growing wants of the different sector users.
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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