Pigments Market Analysis, Market Size, In-Depth Insights, Growth and Forecast 2021-2025

The global pigments market has been flourishing at a phenomenal pace as the demand for paints and coatings has been on the rise. The rise of the construction industry and growing investments in overhauling of restoration of buildings and spaces has given the paints and coatings industry a shot in the arm, creating a plethora of opportunities for the global pigments market. The modern printing industry too has created a high demand for pigments as the quality of image printing has undergone a major upgrade. The global pigments market is estimated to reach US$40.2 Bn by 2025, states a recent report published by Fairfield Market Research. The market for pigments is estimated to register a CAGR of 4.6% between the years 2021 and 2025, predict analysts.

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Titanium Dioxide to See Higher Sales in Pigment Production

2018 data shows that over 10 million tonnes of pigments were produced globally. Most of these pigments use titanium dioxide (TiO2), which is a major part of the inorganic pigments segment. Its ability to efficiently scatter visible light and thereby make the colour bright when used in a coating is expected to generate high demand. As of 2018, TiO2 contributed 65% to the total pigments demand. The demand for TiO2 is also expected to soar as it offers excellent UV resistance properties, making the coating last long. Increasing real estate investments as expected to positively impact the demand for the paints and coatings industry, which boost the pigments market in the coming years.

Demand for Eco-friendly but Vibrant Colours Dominates Global Pigments Market

Analysts report that the demand for vibrant colours will dominate the global pigments market in the coming years as the global aesthetic shifts with young homeowners. However, the demand is also being guided by the ongoing eco-friendly trend. The demand for using green construction and building materials is pushing players in the global pigments market to develop better and newer chemistries. The use of nanoparticles and nanotechnology is also expected to improve the sales of pigments in the coming years. Analysts anticipate that the paints and coatings segment will dominate the global pigments market. As of 2019, the segment was valued at US$14,138.8 Mn and is expected to continue to lead during the forecast period.

Asia Pacific Emerges as Leading Regional Segment in Global Pigments Market

Asia Pacific is expected to lead the global pigments market in the coming years as the construction and building activity gains momentum. Infrastructural development across India and China are expected to lead the regional market. Furthermore, the strong presence of manufacturing companies in these countries also bodes well for the region. Demand for decorative coatings is expected to shoot upwards as the sale of residential properties sees investments from new home buyers. Improving disposable incomes in emerging economies has been identified as the key growth factor for the Asia Pacific pigments market.

Some of the key players operating in the global pigments market are BASF, Clariant, Tronox, INEOS, and Croda International. In the coming years, companies are expected to launch products to meet changing consumer preferences and comply with strict emission norms.

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