The APAC region is Dominant in the Global Pigments Market
The Global Pigments Market is expected to witness a CAGR of 5.1% to reach a value of $30.27 billion by 2023
Bangalore, India, February 15, 2019: With its recently published study “Pigments Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts that the global market for pigments will continue to grow due to increasing applications (paint & coatings, printing ink, plastics), raising awareness about health, and changing trends related to aesthetics. The global pigments market is projected to grow at a CAGR of 5.1% during the forecast period to reach a value of $30.27 billion by 2023.
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Pigments are widely being utilized in various applications because of their added efficiency. The organic, inorganic, and synthetic pigments are added in the products, i.e., cosmetics, food & beverage, clothes, and many others, to be more attractive and appealing. The organic pigments are in high demand because of the health issues related to synthetic pigments.
Among the applications, paints & coatings is dominating the pigments market. The next major application contributing toward the market growth is “plastics”. The growth in the plastics market and increased applications of plastics will foster the use of pigments and help the market to grow. The plastics segment is expected to grow at a high CAGR. Overall, the growth of various application segments will positively impact the global pigments market.
In terms of the analysis of major types, inorganic pigments are contributing heavily toward market growth. The “organic” segment is expected to grow at a CAGR of 5.4% during the forecast period. The significant trend impacting the market positively is the increasing awareness about being environmental-friendly and healthy. This is leading the consumers to demand more organic pigments as there are no health issues related to these pigments.
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“The changing lifestyle, increasing income levels, and growing awareness about aesthetics & health are leading the pigments market. The added colors make the products more attractive and urge customers to purchase. The ongoing trend of being eco-friendly will enhance the organic pigments, thereby positively impacting the global pigments market.” – Vasundhara Singh, Research Associate, Infoholic Research
Key Insights of the Report Include:
- Major Types
- Key Applications
- Paints & Coatings
- Printing Inks
- Industry outlook
- Market trends