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Pigments Market Size By Product (Inorganic [Titanium Dioxide, Iron Oxide, Cadmium Pigments, Carbon Black, Chromium Oxide], Organic [Azo, Phthalocyanine, Quinacridone], Specialty [Classic Organic, Metallic, High Performance Organic, Light Interference, Complex Inorganic, Fluorescent, Luminescent/Phosphorescent, Thermochromic]), By Application (Paints & Coatings, Printing Inks, Plastics, Construction Materials), Industry Analysis Report, Regional Outlook (U.S., Germany, UK, China, India, Brazil, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2024

Published Date: August 2016 | 263 Pages | Report ID: GMI742 Report Format: PDF

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Summary Table of Contents Industry Coverage Methodology

Industry Trends

Pigments Market size was USD 12.7 billion in 2015, and is anticipated to grow at a CAGR of 4.5% between 2016 and 2024.

Europe pigments market share, by product, 2013-2024 (KT)
Europe pigments market share, by product, 2013-2024 (KT)

Global pigments market has witnessed significant growth over the past few years owing to developments in end user industries such as paints & coatings, construction, etc. and increased trend towards demand of specialty products. This trend is forecast to continue in the coming years due to advancement of new coating technology and availability of suitable alternatives for synthetic inorganic pigments.

These are primarily used as colorants; and extensively used in the paints & coatings industry, not only to impart color and finish, but also protect the surface from weathering and corrosion. Majority of paint applications require dispersible and micronized grades in order to strengthen the paint film and get optimal effect. In addition, increasing consumers demand for high end quality paints such as those with metallic luster will boost the demand of specialty products. Global paint & coatings market size was valued at over USD 110 billion in 2015 and is forecast to expand at over 3% CAGR. Positive growth influence from the paint industry will compliment the market size growth.

Specialty & high performance pigments market including phosphorescent products are used as safety way guidance in underground railway stations and public places. Increasing construction spending particularly in BRIC nations will drive growth.

Color is often a question of individual taste and perception, and this requirement is fashion based with scope for continuous development. Thus, substantial gains are expected from augmentation in the requirement of unique and novel eye-catching optical effects by automotive coatings, plastics, printing inks, toiletries and cosmetics manufacturers. High end user spending has resulted in enhanced lifestyle with wide variety of choices. This is anticipated to propel the market growth from 2016 to 2024.

The major raw materials used include carbon based molecules, mainly derived from petroleum compounds, benzene, toluene, ethylene, naphthalene and a few acids. Fluctuating crude oil prices may hamper pigments market price trends. In addition, cadmium, lead sulfochromate yellow and lead chromate molybdate sulphate red have a hazardous effect on human health and environment. Thus, health and environmental concerns have fueled the requirement of stringent regulations for the usage and disposition of such pigments owing to negatively impact on industry growth over the forecast timeframe.

Pigments Market, By Product

Inorganic pigments market size was valued over USD 5 billion in 2015. Products such as iron ore finds widespread applications in construction sector due to its pure hue, tinting strength, and consistent properties.

Specialty & high performance pigments market share is forecast to expand at over 5% CAGR over the forecast timeframe. Local regulatory authorities across the globe are intervening more consistently and are taking stipulated action in case of breach of any environmental regulations during production. This serves as an opportunity for the firms which have shifted to more eco-friendly methods of production to gain market share. Also, the industry has witnessed increasing demand towards use of more specialized and unique end-use products. Niche and small players are also aiming on increasing usage of specialized molecules including thermochromic and daylight fluorescents.

Pigments Market, By Application

Paint & coating applications was valued at over 5 billion in 2015. High per capita consumer spending results in demand for high quality paints homes. Also, pigments provide enhanced metallic luster to paints used in automobiles. Growing end user industries will drive demand for paint & coating applications.

Construction materials is forecast to witness gains at over 3% CAGR up to 2024. Application in construction is spread over a wide area including color roofing, for increasing durability of buildings, safety passages, wood construction, cooler tiles, metal panels, shingles, and colored asphalt. Increasing product application could be a critical factor for roofing pigments market.

Pigments Market, By Region

North America, heavily dominated by U.S. pigments market size, was valued at over USD 3.2 billion in 2015. High customer living standard in the region is forecast to drive the market growth for specialty chemicals. In addition, the regional growth is driven by increasing printing inks demand. However, stringent regulations laid by REACH and EPA may hinder regional growth.

Asia Pacific is anticipated to witness highest gains at over 5% CAGR. The regional market is mainly driven by booming automotive and construction industry. Furthermore, increasing manufacturing and infrastructure development, particularly in China and India is likely to propel industry regional demand.

Competitive Market share

Global pigments market share is consolidated with major companies accounting more than half of global share in 2015. Many medium and large market players are active in the chemical industry. Moreover, due to the commoditized nature of pigments it becomes difficult for the players to hold on to their business from rival companies. Furthermore, most industry players will strive to capture business in the new emerging economies; thus competition will be high in Asia Pacific and Middle East in the coming years. Market players in the U.S. and Europe will also have to face tough competition from established Chinese chemical manufacturers. Major industry players include Clariant AG, BASF SE, CRISTAL, Lanxess AG, and Huntsman Corporation. Other significant market share contributor comprises Tronox Limited, Tokan Material Technology Co., Ltd., Pidilite Industries Limited, Ferro Corporation, and DIC Corporation.

Pigments Industry Background

Pigments are materials which change the color of transmitted or reflected light and provides aesthetic appearance. This offers widespread application scope across construction and automotive paint & coatings.

Pigments market comprises various stages starting from raw material supplier stage to the end user industry stage. Raw material used mostly includes toluene, metal oxides, aliphatic amines, and reagents. Whereas, the end user industry comprises of construction materials, plastic, rubber, paper and ceramic products. Increasing pigment use in various end user industries will positively influence demand.

What Information does this report contain?

What was the historic market data from 2013 to 2015, what is the industry growth forecast from 2016 to 2024?
A detailed analysis of regulatory trends, growth drivers, industry pitfalls, challenges and opportunities for participants
Which are the leading market products, applications & regions and how will they perform by 2024?
What are the technology & innovation trends, how will they evolve by 2024?
Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

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