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"Global Inorganic Pigments Market was Valued at US$ 23.07 Bn in 2018 and it is Expected to Reach More than US$ 35.5 Bn by 2027, Likely to Grow with the CAGR of 4.9% During the Forecast Period."
Inorganic pigments are the oldest pigments manufactured from petrochemical sources or natural resources and used across the world. Manufacturing is based on the phenomenon of refraction, these pigments provide iridescent effect, complex effect, metallic effect, pearlescent effect, and fluorescent effect. They possess properties such as good color strength, weather and chemical resistance heat and light stability, opacity, and durability to substrates. Inorganic pigments are more durable than organic pigments. Furthermore more, they have the capacity to hold color for a longer period of time
Increasing Demand From various Industries is Anticipated to Drive the Demand for Inorganic Pigments During the Forecast period
Inorganic pigments are widely used in paints and coatings, plastics, printing inks, automotive, personal care products, ceramics, rubber, laminates, and glass. They impart color to paints, inks, plastics, papers, rubbers, concrete blocks, tiles, etc. In addition, Inorganic pigments offer high abrasion resistance all these factors are likely to drive the demand for inorganic pigments.
Furthermore, rapid industrialization, growth in the construction industry and increasing usage as colorants in the plastic industry be expected to enhance the market growth
However, rising toxicity associated with the inorganic pigment may restrain the market growth to some extent.
The Titanium dioxide Segment is Expected to Dominate The Inorganic Pigments Market During the Forecast Period
Titanium dioxide was the largest product segment, accounting for over xx % of global revenue share in 2018 and this trend is expected to continue over the forecast period. Titanium dioxide is the most-widely used inorganic pigments, owing to its excellent physical properties along with the excellent light-scattering properties of titanium dioxide which help to provide good white opacity and brightness to surfaces. It is widely consumed because of its white color.
However, Iron oxide is projected to be the second-largest pigment type during the forecast period.
The Paints & Coatings Application Segment is Expected to Witness Highest Growth in the Global Inorganic Pigments Market across the Globe
The Paints & Coatings Application segment is estimated to be the largest application of the Inorganic Pigments and is projected to grow at the highest rate above 5.0 % in the Inorganic Pigments market during the forecast period. The rising demand for paints and coatings in from the architectural and automotive sectors are on the rise and it is anticipated to provide growth opportunities for the inorganic pigments in the upcoming years
Increased performance of coated objects and technological advancements in coating technology are the key factors for the growth of paints & coatings. Inorganic pigments are preferred in the paints and coatings industry due to the demand for properties such as anti-corrosion, durability and high gloss. An increasing number of construction and infrastructure projects are likely to drive the global inorganic pigments market. Demand for decorative and industrial paints is anticipated to increase significantly in the upcoming years due to housing and infrastructure development.
The Asia Pacific Is Expected to Dominate the Inorganic Pigments Market During the Forecast Period
The Asia Pacific accounts for more than 50% of the global consumption of inorganic pigments and is expected to grow at a significant rate during the forecast period. The rapid industrialization and growing infrastructure development are expected to be factors contributing to the growth, particularly in China, India, and Indonesia. This provides huge opportunities to regional as well as global manufacturers. Rapid growth in construction and automotive industries and the rise in population in the Asia Pacific are factors projected to propel the market in the region during the forecast period.
While the market in North America expected to witness steady growth in the inorganic pigments market over the forecast period owing to large exports particularly to China, Germany, Japan, and Belgium. The market in Europe and North America is expanding at a moderate pace. Significant investments in technological advancements and a rise in renovation work in the building & construction industry are expected to propel the market in these regions during the forecast period.
The Chemours Chemical Company, CRISTAL, TRONOX Limited, and Huntsman Corporation these are the top four players account for a major share of the total production of inorganic pigments. Some of the key players in the global Inorganic Pigments market are E. I. du Pont de Nemours and Company, LANXESS, Ferro Corporation, BASF SE, DIC Corporation, Heubach GmbH, and Rockwood Company LLC.
Inorganic Pigments Market Key Segments:
Inorganic Pigments Market, By Product
- Carbon Black
- Chromium Oxide
- Titanium Dioxide
- Iron Oxide
Inorganic Pigments Market, By Application
- Paint & Coatings
- Plastics, Printing Inks
- Light Emitting Sources
- Others (ceramics, rubber, laminates, and glass)
Inorganic Pigments Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America