Brooklyn, New York, USA, 2021-Apr-27 — /Meridian Market Consultants/ — An overview of conceptual frameworks, analytical approaches of the Pigments Market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The pigments market is expected to grow at a significant rate in the near future.

The global Pigments Market in 2020 is estimated for more than US$ 24,918.2 Mn and expected to reach a value of US$ 35,372.5 Mn by 2028 with a significant CAGR of 4.5%.

Pigments are the materials that change the color of transmitted or reflected light. Pigments are used for coloring paint, plastic, fabric, cosmetics, food and other materials. The pigment powder is added to a binder, a relatively neutral or colorless material that suspends the pigments and gives adhesion to the paint. They also have high tinting strength, enhances the strength of the paint film, and hides substrates. Pigments are widely being used in the paint & coating industry, plastic industry, construction & building industry, and others.

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Pigments Market Dynamics

Increasing applications of specialty pigments in the flexible packaging industry coupled with raising awareness about the sustainable environment are driving the pigments market. Moreover, the elevating demand for personalized and individual products and growing demand from the end-user industry is further propelling the growth of this market.

Additionally, the advancement in technology followed by the research & development activities in nanotechnology is also responsible for growing demand for pigments, globally. However, the fluctuating cost of raw materials and strict government norms may hamper the growth of this market.

The global pigments market is expected to increase at a significant CAGR over the forecast period owing to the elevated consumption of pigments majorly from paint and coating industry followed by the plastic industry.

However, the application of pigments for personalized products coupled with renewable feedstock and advancements in technology is also propelling the growth of this market.

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Pigments Market Key Players

Global pigments market is mainly dominated by BASF SE, Cabot Corporation, Clariant International Ltd., DIC Corporation, ECKART GmbH, Ferro Corporation, Heubach GmbH, Huntsman Corporation, Sudarshan Chemical Industries Ltd. and The Shepherd Color Company.

Pigments Market Segmentation

The global pigments market is segmented on the basis of product type, application, and color index.

On the basis of product type, the global pigments market can be segmented into organic pigments, inorganic pigments, and specialty pigments. Organic pigments are further fragmented as azo pigments, phthalocyanine pigment, quinacridone pigment and other organic pigments. Whereas, inorganic pigments can be segmented into titanium dioxide, iron oxide, cadmium pigment, carbon black, chromium oxide, complex inorganic and other inorganic pigments.

Lastly, the specialty pigments segment can be fragmented into classic organic pigments, metallic pigments, high-performance pigments, light interference pigments, fluorescent pigments, luminescent pigments and thermochromic pigments. On the basis of application, the global pigments market can be segmented into paints & coatings, printing inks, plastics, construction materials, and others. On the basis of the Color Index, the global pigments market can be segmented into red, blue, green, orange, yellow, brown and others.

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Pigments Market Regional Segmentation

On the basis of region, the global pigments market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America pigments market is expected to be the most dominating market throughout the forecast period. High standards of living and growing manufacturing and infrastructural developments boost the growth of pigments market.

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