Pigments Market Size is Estimated to Hit US$ 67.4 Billion at a CAGR of 5.4% by 2033, States Fact.MR

Pigments Market in North America Expands with New Innovations in High-Performance Solutions and Expected to Hold 22.3% Revenue Share.

/EIN News/ -- Rockville, June 01, 2023 (GLOBE NEWSWIRE) -- According to the Fact.MR, a market research and competitive intelligence provider, the global pigments market is estimated to be valued at US$ 39.8 billion in 2023 and is expected to grow at a CAGR of 5.4% during the forecast period of 2023-2033.

The pigments market is expected to witness significant growth in the coming years due to the increasing demand for high-performance and sustainable pigments in end-use industries such as paints and coatings, plastics, printing inks, and the construction sector. Technological advancements and innovations in the pigment industry, such as nanotechnology, are reshaping the growth trajectory of the market.

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Growing investments in research and development for developing new pigments with improved properties and performance are further contributing to the market growth and driving the demand in the long run. Additionally, the increasing demand for organic and inorganic pigments, due to the shift towards environmentally friendly products and regulations on toxic chemicals, is expected to boost market growth.

While there may be some hindrances such as volatility in raw material prices and stringent environmental regulations, the pigments market is expected to continue growing as market players focus on developing innovative and eco-friendly products to gain a competitive advantage and tap into new growth opportunities.

Key Takeaways from Market Study

• The global pigments market size reported by Fact.MR for 2022 was US$ 37.8 billion
• The global pigments market size is estimated to reach US$ 67.4 billion in 2033
• The European market for pigments is projected to expand at a CAGR of 5.9% during the forecast period
• North America is estimated to dominate the market with over 22.3% market share in 2023
• The market in Japan and South Korea is set to rise at 6.2% and 5.3% CAGRs

“Organic and Inorganic Pigments to the Lead Market Growth Amid Environmental Regulations in Coming Years”, says a Fact.MR analyst.

Why Does Brazil have High Demand for Pigments?

Brazil's big and diverse economy, which includes a wide range of businesses that require pigments, results in a significant demand for pigments. For instance, pigments are crucial to the production of goods in the building, textile, and automotive industries. Pigments are commonly used in agriculture to colour fertilisers, insecticides, and animal feed. Brazil is a big producer and exporter of agricultural goods.

In addition, Brazil's middle class is expanding, which has raised demand for consumer goods that contain pigments, including cosmetics, personal care items, and food and beverages. The nation's urbanisation and growing population both contribute to the increase in demand for pigments.

In recent years, Brazil has placed an increasing amount of emphasis on sustainability, and pigments have developed into a crucial part of sustainable methods. For instance, pigments are used to increase the durability and efficiency of renewable energy devices like solar panels and wind turbines.

In addition, pigments are utilised in ecologically friendly goods like water-based paints and coatings to lessen the use of dangerous chemicals and to support environmental sustainability. As a result, Brazil offers the pigments market's players significant growth potential in the years to come.

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Market Growth Stratagems
The key market players in the pigments market strategies on the acquisition and increase their production capacity. The players also focus on established partnerships for the long term. For instance,

• In February 2023, Brilliant Group and Terra Firma, a DKSH company, announced that the companies have entered into a partnership that will allow Terra Firma to sell Brilliant Group's industry-leading fluorescent and phosphorescent pigments.
• In February 2023, Heritage Color, a subsidiary of Vivify Specialty Ingredients acquired Reitech Corporation. Reitech manufactures and supplies water-based pigment dispersions.

Key Companies Profiled

• Altana AG
• Cathay Industries Group
• DIC Corporation
• Ferro Corporation
• KRONOS Worldwide Inc.
• Lomon Billions Group
• TRONOX Holding PLC

Segmentation of Pigments Industry Research

• By Product Type:
  • Inorganic
    • Titanium Dioxide
    • Iron Oxide
    • Carbon Black
    • Chromium Compounds
    • Others
  • Organic
    • Azo
    • Phthalocyanine
    • Quinacridone
    • Others
  • Specialty
    • Classic Organic
    • Metallic
    • High-performance organic
    • Light Interference
    • Complex Inorganic
    • Fluorescent
    • Luminescent/phosphorescent
    • Thermochromic
    • Others
• By Application:
  • Paints & Coatings
  • Printing Inks
  • Plastics
    • Commodity
    • Engineered
  • Construction materials
  • Others
• By Region:
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the pigments market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of product type (inorganic (titanium dioxide, iron oxide, carbon black, chromium compounds, and others), organic (azo, phthalocyanine, quinacridone, and others), specialty (classic organic, metallic, high performance organic, light interference, complex inorganic, fluorescent, luminescent/phosphorescent, thermochromic, and others)), and application (paints & coatings, printing inks, plastics (commodity and engineered), construction materials, and others and across major regions of the world.

Check out more related studies published by Fact.MR Research:
Titanium Dioxide Pigment Market Growth: Surge in demand for cosmetic and personal care products will also boost the titanium dioxide pigment market growth. Changing food preferences due to changing lifestyle have led to the growth of food industry. The growth of food industry will have positive impact on the titanium dioxide pigments market.

Iron Oxide Pigments Market Share: Global iron oxide pigments market share is expected to increase at 5% CAGR and reach US$ 3.58 billion by 2030. High demand for colouring agents from various end-use industries is the major factor boosting the sales of iron oxide pigments.

Bio-based Pigments and Dyes Market Revenue: The present valuation for the global bio-based pigments and dyes market is USD 30,305 Million in the year 2022. The market is growing with a CAGR of 4.5% in the forecast duration. The bio-based pigments and dyes market revenue is likely to exceed USD 47062.74 Million by end of 2032.

Coating Pigments Market Size: The global coating pigments market size is estimated at USD 24.5 billion in 2022 and is forecast to reach USD 41.9 billion by 2032, growing at a CAGR of 5.5% during 2022-2032. In addition, it is likely to offer an absolute dollar opportunity of USD 18.6 billion between 2022 & 2032.

Organic Dyes and Pigments Market Forecast: Worldwide consumption of organic dyes and pigments is estimated at US$ 22 Bn in 2022. As per detailed global organic dyes and pigments market forecast analysis, the industry will reach to US$ 37 Bn by 2032, progressing at a CAGR of 5.4% during 2022-2032.

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