LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global inorganic pigments market is expected to reach USD 19.88 billion by 2021, growing at a CAGR of more than 4%.
This research report titled ‘Global Inorganic Pigments Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To calculate the market size, the report considers the sales of inorganic pigments in key applications such as paints and coatings, printing inks, and plastics.
APAC is anticipated to be the leading manufacturer and consumer of inorganic pigments. The market growth in the region is driven by the increased adoption of CICPs in the paints and coatings sector and the need for sustainable paints. In addition, the increased investments in infrastructural development in the region are expected to foster the demand for durable and colorfast inorganic pigments.
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Technavio’s chemicals and materials analysts categorize the global inorganic pigments market into four major segments by the application. They are:
- Paints and coatings
- Printing inks
- Plastics
- Others
The three top application segments for the global inorganic pigments market are:
Global inorganic pigments market in paints and coatings sector
Inorganic pigments are widely used for coating applications in the paints and coatings sector. Many of the coating applications that rely on inorganic pigments are high-quality industrial coatings, coil coating, powder coatings, high heat resistant coatings, weatherproof facade coatings. Iron oxide and chrome oxide pigments are some of the widely-used pigments in the paints and coatings sector as these pigments deliver light-fastness, weatherability, and chemical stability along with low dusting abilities.
According to Mahitha Mallishetty, a lead paints, coatings, and pigments research analyst from Technavio, “In the paints and coatings sector, pigments are broadly classified into industrial application pigments and architectural decorative application pigments. The production of paints requires many raw materials, including binders, pigments, solvents, and additives based on functionality.”
Global inorganic pigments market in printing inks sector
The printing inks sector is the second-largest application segment of inorganic pigments. Titanium dioxide and carbon black are the commonly used inorganic pigments for manufacturing printing inks. Metal deco and poster printing are some of the printing applications that require high-grade printing inks.
“Packaging is being considered as a means of branding and advertising. It has also changed consumer preference, making them incline toward using organic pigments. This trend has increased the use of organic pigments in the packaging sector, thereby posing a threat to the growth of inorganic pigments market,” says Mahitha.
Global inorganic pigments market in plastics sector
In the plastics sector, heat resistance and dispersibility are the two most crucial functionalities offered by pigments. The desired end-product generally governs the processing method. Inorganic pigments are easily dispersible; therefore, they are the preferred pigment type for use in polymer matrices.
Inorganic pigments are also deemed safe to be used in food-contact applications by International Agency for Research on Cancer (IARC). This expands the use of inorganic pigments in the food and beverage sector.
The top vendors highlighted by Technavio’s research analysts in this report are:
- BASF SE
- DIC Corporation
- Ferro Corporation
- Heubach
- LANXESS
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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