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Dynamic trends characterize the Pigment Intermediates Market today because of a combination of factors arising from technological advancements, regulatory changes and consumers’ changing preferences. One observable trend dictating this subject matter is growing demand towards eco-friendly and sustainable pigment intermediates. Industries across the globe are seeking alternatives that minimize ecological impact due to increased environmental consciousness globally. Consequently, greener pigment intermediates derived from renewable resources and those that generate few harmful by-products during their manufacture have been proliferated.
Besides this; water-based formulations are currently becoming prominent in the Pigment Intermediates Market because of heightened awareness surrounding volatile organic compounds (VOCs) found in conventional solvent-based pigments. With increasing stringent regulations on VOC emissions industries are aligning their strategies with environment standards compliance. Water based pigment intermediaries besides having reduced environmental footprints also address health related issues thereby making them attractive choices for different applications.
Additionally, globalization trends and cross-market interactions influence the Pigment Intermediates Market. Increasing cross-border trade of goods coupled with expansion multinational companies has led to globalization of the pigment industry. Consequently, market stakeholders strategically position themselves with respect to varying regional demands. This has seen partnerships, collaborations and mergers formed to heighten production capacity as well as gain a competitive advantage across different geographical markets.
Research and development activities continue to thrive in the Pigment Intermediates Market particularly in the area of innovation. The advancement of technology, especially nanotechnology, has created new openings for the manufacture high-performance pigment intermediates. Nanopigments have better features such as improved stability, increased color strength and better dispersion which is making them more popular across various industries. So far this trend is expected to intensify further as researchers continues exploring on possible applications of nanotechnology within pigment formulation field.
On top of that; there is also an increase in demand witnessed by end-use industries including paints and coatings, plastics, textiles, and printing inks within the Pigment Intermediates Market. These sectors are central in consumption of pigment intermediaries with their performance being closely linked with overall economic health. As global challenges are overcome by economies these sectors consequently rebound leading into escalated need for pigment intermediates. Furthermore, urbanization trends coupled with increased infrastructure developments happening all over the world have resulted into rising requirements for pigments being used in construction and architectural applications.
Pigment Intermediates Market Highlights:
Pigment Intermediates Market Regional Analysis
The pigment intermediates market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific dominated the global pigment intermediates market in 2017 due to the high demand for pigment intermediates from major end-use industries such as paints & coatings, textiles, construction, and plastics. The high growth of the market in this region can also be attributed to the fast-paced industrialization and urbanization in the emerging countries such as India, Thailand, Malaysia, and Singapore.Â
North American market is expected to witness a high growth of the market owing to the high demand from the paints & coatings and construction industries in the region.
The market is Europe is driven by the increased demand for paints & coatings, which is further used in production of automotive parts.
Key Players
Some of the manufacturers operating in the global pigment intermediates market are Camex Limited (India), CALSAK CORPORATION (US), Ambuja Intermediates Pvt Ltd (India), Nova International (India), Sugai Chemical IND.CO.,LTD. (Japan), Wellton Chemical Co.,Ltd. (China), Minal Intermediates (India), Seya Industries Ltd. (India), Sarna Chemicals (India), Kawaguchi Chemical Industry Co., LTD (Japan), and Nantong Acetic Acid Chemical Co., Ltd. (China).
Market Overview
Pigments are generally colored, organic or inorganic solid powder, and are insoluble in water and organic solvents. They have no physical and chemical alteration when incorporated in the substrate. Pigments offer a wide range of colors, excellent light and weather fastness, high tinting strength, excellent solvent resistance, heat stability, and consistency.
The pigment intermediates market is primarily driven by its use in major end-use industries such as textiles, paper, paints & coatings, plastics, and construction. The growth of these industries is high in the emerging economies of Asia-Pacific such as India, Thailand, Singapore, Malaysia, and Indonesia, which is driving the global pigment intermediates market. The high penetration of pigments in textiles industry is one of the major drivers of the pigment intermediates market. The high disposable income and the changing fashion trend of the consumers across the globe is a factor positively influencing the market growth. Furthermore, its use in paints & coatings is another primary driver of the global pigment intermediates market. Paints and coatings are used in almost every major industry such as automotive, aerospace, shipbuilding, electronics, and consume goods. Rapid industrialization and urbanization in the emerging economies of Asia-Pacific have resulted in increased construction, which is also fueling market growth. Moreover, high production and sales of automobiles across the globe are expected to propel the demand for paints & coatings, which will further drive the market growth during the forecast period.
However, the fluctuations in the pricing of titanium dioxide is likely to hamper market growth during the forecast period.
Global Pigment Intermediates Market, by Application (%)
Source: MRFR Analysis
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Segmentation
The global pigment intermediates market has been segmented on the basis of type, end-use industry, and region.
Based on type, the market has been bifurcated into organic and inorganic intermediates.
By end-use industry, the market has been segmented into paints & coatings, textiles, construction, paper, plastics, and others.
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Intended Audience
- Pigment intermediates manufacturers
- Traders and distributors of pigment intermediates
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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