Pigments Market accounted for US$ 22 billion in 2020 and is estimated to be US$ 40.02 billion by 2030 and is anticipated to register a CAGR of 6.2%. Pigments are solid chemicals that improve the look of the substrate or impart colour to it. The pigment is an insoluble ingredient that is mixed with a suitable media. When compared to other ingredients in the combination, the pigment has a high tinting strength. It serves three main purposes: to colour the medium, to conceal the substrate, and to improve the strength of the paint coating. Organic pigments are made out of carbon atoms that are either non-toxic or have a low toxicity level, making them safer for the environment.
The report “Pigments Market, By Product Type (Organic Pigments, Inorganic Pigments and Specialty Pigments), By Application (Paints and Coatings, Construction Materials, Plastics and Printing Inks), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2029’’
• In August 2021, With the new lead-free Paliotan VIU range and accompanying technical service offering, Sun Chemical has created a full-service package to facilitate the substitution of lead components in coatings formulations.
Customers are becoming more cautious about the products they consume as their health concerns and awareness grow, and they are gravitating towards organic pigment. This proclivity is assisting in the global pigment market’s expansion. However, it becomes more complicated as a customer focuses more on things that are hazardous to the environment, such as some pigments, such as molybdate sulphate, lead chromate, cadmium, and lead sulfochromate. As a result, some pigments are heavily regulated, and their use is restricted.
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Key Market Insights from the report:
Global Pigments Market accounted for US$ 22 billion in 2020 and is estimated to be US$ 40.02 billion by 2030 and is anticipated to register a CAGR of 6.2%. Global Pigments market is segmented into product type, application and region.
• Based on Product Type, the Global Pigments Market is segmented into Organic Pigments, Inorganic Pigments and Specialty Pigments.
• Based on Application, the Global Pigments Market is segmented into Paints and Coatings, Construction Materials, Plastics and Printing Inks.
• By Region, the Global Pigments Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Pigments Market:
The key players in the global Pigments market includes BASF, DIC Corporation, Jeco group, Lily group, Lomon billions, Meghmani organics limited, Sudarshan chemicals limited, and Tronox. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the products to gain a competitive edge in the target market.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.