Pigments Market by Type & Inorganic Pigments, by Color - Global Trends & Forecast to 2026

Pigments Market is projected to surpass USD 21 billion by 2026. Increasing paints & coating demand will fuel the product demand.

Some major findings of the elevator market report include:

  • Rapidly growing paints & coating industry in Asia Pacific on account of rising automotive and construction industry shall drive the pigments market
  • Increasing environmental awareness coupled with growing regulations on health hazardous product usage will spur the organic pigment demand in the coming years
  • Boom in digital printing industry projected to propel the product demand for printing ink during the forecast period
  • Pigments market is highly consolidated with major players having over 70% share in the market owing to huge production capacity and strategic acquisitions
  • Rising raw material prices may hamper product demand at some extent over the forecast period

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Paints & coatings generated highest demand in pigments market in 2018 and projected to grow with a CAGR over 5% during the forecast timespan. Increasing paints and coating demand in automotive and construction industry will propel the pigments market growth over the forecast period.

Printing ink industry across the globe shall experience the healthy growth on account of rise in 3D printing technology. Moreover, increasing adoption of eco-friendly such as UV-cured inks and water-based inks expected to fuel the printing ink industry growth over the forecast period. Increasing R&D investment amid environmental concerns and intensifying competition in the industry expected to benefit the printing in industry in near future. This healthy growth in the industry shall fuel the pigments demand during the forecast timespan.

Increasing environmental awareness and stringent regulation expected to trigger the organic pigments demand in coming years. The regulations for pigments use in food packaging and printing are very stringent across the globe due to the toxic elements in some pigments such as cadmium based and lead based. For instance, in Europe, Directive 94/62/EC refers to heavy metal content in packaging and packaging component. The total of the 4 heavy metals Cd, Pb, Hg, and Cr (VI) must not exceed 100 ppm. With increasing environmental awareness among the people may trigger the regulations on the toxic substance usage, which will further propel the organic pigments demand over the forecast period. However, high organic pigments prices compared to the inorganic may hamper the its demand at some extent during the forecast timespan.

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Renovation and efficiency improvements in existing buildings will trigger the pigments demand in construction industry over the forecast timespan. Building accounts for the highest energy consumption 40% in Europe and produce 35% greenhouse gas, due to which building upgradation and renovation activities in the region are at peak. This renovation and upgradation activities in construction are likely to propel the pigments demand during the forecast timespan.

Companies operating in the industry are introducing the new and innovative products to stay ahead in the competition. For instance, in July 2019 BASF have launched two new pigments, Microlen Piano Black, and a black and red addition to the Sicopal product line. These pigments are specially recommended for recycling products, launch of these pigments will give BASF an advantage in pigments market.

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