Paint Pigments Market is predicted to grow at approximately 4.8% by 2022
Paint Pigments Market Research Report, By Forms (Liquid and Powder), by Mixture (Solvent, Binder and Pigment), By Application (Residential Coating, Architectural Products, Industrial Coatings (Automotive, Consumer Products, and Aerospace), Specialty Coatings and Others) – Forecast To 2022
Paint Pigments Market Highlights:-
The global paint pigments market has experienced an enormous growth over the past decade and as per MRFR analysis, the global market will grow at higher rate of around 4.8 % during the forecast years. Infrastructure spending is likely to boost paint pigments market during the forecast period. Globally, the paint & coating market is boosting the overall market which in turn has created a platform for paint pigment manufacturers to cover the market.
Paint Pigments Market Top Key Players Analysis:-
BASF SE, Dow Chemical Company, Huntsman Corporation, Nippon Kayaku Company, Cabot Corporation, Clariant, Sensient Technologies, Synthesia, Shanghai Road Dyestuffs & Chemicals, Evonik Degussa, Ei Dupont De Nemours, Dic Corporation and others.
Paint Pigments Market Drivers:-
The market is majorly driven by the increase usage of its application industries such as residential coating, architectural products, and industrial coatings, specialty coatings and others. Industrial coating is bifurcated into automotive, consumer products, aerospace. As per analysis, the global paint & coating market is boosting the overall market which in turn has created a platform for paint pigment manufacturers to cover the overall market. Seeking this kind of opportunities, there will be an ample scope for the domestic as well as international players to introduce new product launch and opportunities for the new entrants. Due to its properties such as cost effectiveness, consistency and unique shades, good stability to solvents, non-toxic and others are boosting this industry.
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Geographically, Asia-Pacific is expected to be the fastest growing as well as the largest market by covering approximately 38% of the total market size, where China’s contribution to the overall market has created several opportunities to the local as well as global players. North America would be the second largest market in terms of value and volume.
Paint Pigments Regional Analysis
APAC will be the leading market
APAC will be the dominating market for global paint pigment, accounting for more the 38% market share by 2022. This share is attributed to the growing demand from application segment, emerging economies, urbanization and increasing spending on infrastructure.
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Paint Pigments Market Research Analysis:-
It is expected that the market will growth rate at a CAGR of approximately 4.8% during the forecast period. The current challenge for the market is the unavailability of skilled labor, labor safety and fluctuating material costs. The growing population and urbanization in the emerging economies with increasing need for infrastructure in the region is driving the market of paint pigment over the next five years, especially in APAC. The residential coating is estimated to be the leading application segment.
Study Objectives of Paint Pigments Market:-
- To provide detailed analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the paint pigments market
- To provide insights about factors affecting the market growth
- To analyze the Paint Pigments market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia-Pacific, and Rest of World
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