Global Pigments Market Size to cross $20bn by 2025

Pigments Market size is poised to cross USD 20 billion by 2025; according to a new research report by Global Market Insights, Inc.
 

One of the major factors augmenting the global pigments market growth is rising product demand in the construction sector. In 2017, construction industry in Asia Pacific region was recorded at around USD 1.5 trillion and is likely to surpass USD 2 trillion by 2025. Rising industrialization, rapid urbanization, increasing population, and improvement in per capita income are some factors augmenting the development of the Asia Pacific construction market. Additionally, favorable government initiatives for infrastructure development in the region will also positively influence the regional construction industry’s growth. The U.S. has witnessed significant rise in the construction spending over the last five years. Overall construction spending in the country increased by over 40% between 2013 and 2018. During the same period, spending on residential construction experienced a growth of over 60%, whereas, non-residential construction spending increased by more than USD 150 billion. In construction industry, pigments are widely used in different parts of a building such as roofs, cooler tiles, shingles, safety passages, metal panels, etc.

 

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Application of phosphorescent color has tremendously increased in underground public utilities, railway stations, etc. due to their ability to glow in the dark. Furthermore, building materials extensively use iron oxide product type due to their consistent properties, excellent tinting strength and pure hue. They are widely used in paving blocks, chequered tiles, designer tiles and stamped concrete. Escalating construction activities in Asia Pacific and North America region will prosper the product demand throughout the forecast timeframe. However, strict government regulations and price volatility of raw materials might hamper the pigments market growth in the near future.
 

Pigments Market

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Organic product class will have a substantial growth rate throughout the forecast timespan. This product category is further sub-segmented into azo, quinacridone, phthalocyanine and others. These pigments are non-toxic, cost-effective, have great color strength and are available in various shades. They are extensively used in coatings, paint, plastic and textile industries.
 

Browse key industry insights spread across 784 pages with 1407 market data tables & 21 figures & charts from the report, “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, Thermochromic]), By Application (Paints & Coatings, Printing Inks, Plastics, Construction Materials), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Australia, Malaysia, Indonesia, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/pigments-market
 

Paints & coatings will have around 40% market share throughout the forecast timeframe due to the extensive use of pigments for imparting colors in this application segment. Construction material application will also have substantial market share. Increasing use of colored concrete for a wide range of construction activities will boost product demand in the forecast period. The use of colored concrete has been rising in the recent years as they are more visually appealing and creates a richer environment.
 

North America pigments market is likely to grow at a substantial growth rate throughout the forecast timespan. This can be ascribed to the presence of well-established automotive industry coupled with increasing regional construction spending. Asia Pacific region is likely to have majority of market share. Rapid urbanization, increasing industrialization, rise in spending capacity are some of the factors augmenting the growth of regional automotive and construction sectors, which in turn, will boost product demand in the near future.
 

Some manufacturers in the market are Tronox Inc., BASF SE, Lanxess AG, Huntsman Corporation, DIC Corporation, Clariant Corporation, etc. Mergers & acquisitions and product innovation are the popular strategies implemented by the market participants to improve their competitiveness. For instance, Merck Group completed the acquisition of Sigma Aldrich in November 2015 for USD 17 billion.
 

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The pigments market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2014 to 2025, for the following segments:

By Product

  • Inorganic
    • Paints & coatings
    • Printing inks
    • Plastics
    • Construction materials
    • Others
  • Organic
    • Paints & coatings
    • Printing inks
    • Plastics
    • Construction materials
    • Others
  • Specialty
    • Paints & coatings
    • Printing inks
    • Plastics
    • Construction materials
    • Others

By Application

  • Paints & coatings
  • Printing inks
  • Plastics
  • Construction materials
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

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