The Global Inorganic Color Pigments Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Inorganic Color Pigments market is segmented by Product type (Iron Oxide, Titanium Oxide, Carbon Black and Others); Application (Paints and Coatings, Plastics, Printing Inks and Others); Geography (North America, Europe, APAC and ROW).
Introduction
Inorganic color pigments are produced from mixed metal oxides through the high temperature calcination process. Inorganic color pigments are not affected by strong acids/base and oxidizing agents. These pigments can withstand adverse climatic conditions and different temperatures.
Inorganic color pigments provide brilliant color effects, along with heat and light fastness, and durability to plastics. Inorganic color pigments are widely used for coloring of buildings, plastics, construction, etc. They are also used as colorants for engineering plastics in the automotive industry.
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering manufacturing activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Market Overview
The Global inorganic color pigments market is expected to grow to $30.20 billion by 2025.
Growth momentum is expected to accelerate during the forecast period with 4.70% CAGR
The growing demand for surface treatment activity along with a rising preference for better aesthetics across numerous industries including construction, automotive, medical, and cosmetics are contributing to the growth of the market.
Asia Pacific region is the fastest-growing market of due to high demand from various industries.
Key Trends
The growing demand for surface treatment activity along with a rising preference for better aesthetics across numerous industries is expected to drive the market in future
Various research and development activities for development of new inorganic color pigment technologies such as nano-pigment technology is also propelling growth of the market.
Key Market Players
Some of the key players in the market are BASF, Clariant, Hutsman International, DIC Corporation, Lanxess, Venator Materials.
The key players are dominating the market by adopting modern and innovative technologies to customize the product, enhance its properties, and differentiate the final product from its competitors.
Companies are also adopting certain strategic initiatives, M&A activities to increase their production capacity and to enhance their product portfolio to cater to the growing demand, particularly in the developing regions.
Growth Drivers and Challenges
The rising investment in various construction and infrastructure projects across the globe is driving the market. Global construction industry is growing at a faster pace with a major contribution from emerging countries. The revenue is expected to reach approximately $14.98 trillion by 2025.
Increasing demand for automobile coatings is believed to play a critical role in shaping growth positively.
The growing importance of aesthetics in the packaging industry is also supporting the growth of the market.
Stringent regulations related to cadmium and chromium-based pigments is major restraining factor for growth of the market.
Volatile costs of raw materials are also projected to present a challenge to productivity in the sector
Brexit to negatively impact the automotive and construction industries in Europe