Market Overview:
Pigment Dispersion based paints & coatings intensifies the substrate properties such as color intensity, gloss, hiding power, light fastness and weathering. They have major scope in residential and non-residential applications, automotive and aircraft components, and industrial machinery.
Some of the prominent factors that positively influence the growth of Pigment Dispersion Market are increasing refineries owing to the demand for coatings which are resistance to acid, alkali, detergents and lubricants in chemical plants, and rising demand for UV protection coatings for aircraft carriers. Increasing urbanization along with rising per capita disposable income in the developed and emerging economies are predicted to drive the growth of the market over the forecast period, 2017 to 2023. New coatings and surface treatments based on nanotechnology have been incorporated into pigment dispersion, which will make the use of wood in construction increasingly practical and economic.
Moreover, continuous expansion of automotive sector as well as shifting manufacturers focus towards paints which are resistant to acid and detergent washes, bird droppings, leaves for vehicles are estimated to fuel the growth of the market during the review period, 2017 to 2023. However, growing environmental concern regarding the toxic effect of chemicals used in Pigment Dispersion along with the implementation of strict regulations are predicted to hinder the market growth over the assessment period, 2017 to 2023.
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Regional Analysis:
In Europe, Germany, Russia, and Spain are predicted to register a strong growth on account of tremendous demand for Pigment Dispersion in automobile manufacturing. In Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for Pigment Dispersion Market and is estimated to grow with the same pace over the forecast period. Improving living standards along with the flourishing growth of sludge oil treatment sector is predicted to contribute to the regional market growth. In North America, U.S. and Mexico are among the major contributors in the regional market growth due to expansion of offshore and onshore activities will ensure the use of Pigment Dispersion Coating for industrial machinery as well as increasing innovations. The Middle East & African countries are focusing newly on tourism & travel industry will ensure the utilization of Pigment Dispersion Coatings in various construction projects. In Latin America, Mexico is expected to register strong growth due to robust presence of automobile manufacturers.
Segmentation:
The Global Pigment Dispersion Market is categorized on the basis of type, application, and region. On the basis of type, the market is bifurcated into water, solvent, and others. On the basis of end use industry, the Pigment Dispersion Market is categorized into construction, automobile, aerospace, furniture, printing and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Key Players:
Some of the prominent players operating in the Global Pigment Dispersion Market are BASF SE (Germany), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), Akzo Nobel N.V. (the Netherlands), Clariant (Switzerland), RPM International Inc. (U.S.), Tikkurila Oyj (Finland), KANSAI PAINT CO.,LTD (Japan), Kelly-Moore Paints (U.S.), and Dunn-Edwards Corporation (U.S.) among others.
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