Inorganic Pigments Market by Pigment Type (Titanium Dioxide, Iron Oxide, Carbon Black), Application (Paints & Coatings, Plastics, Inks), End-Use Industry (Building & Construction, Automotive, Packaging, Textiles), Region - Global Forecast to 2024
“Growth of global construction sector is driving the overall inorganic pigments market.”
The inorganic pigments market size is expected to grow from USD 22.0 billion in 2019 to USD 28.3 billion by 2024, at a CAGR of 5.1% during the forecast period. The market is driven by various factors, such as increasing demand for paints & coatings from construction and automotive industries, along with demand from the packaging industry. However, stringent regulations related to cadmium and chromium-based pigments and fluctuations in raw material prices are restraining the growth of the market.
“Titanium dioxide segment is expected to grow at the highest rate during the forecast period.”
Titanium dioxide is the fastest-growing type of inorganic pigments in the overall market. Titanium dioxide has better light-scattering properties that help to provide excellent opacity, brightness, and whiteness to the products. It is a white-colored inorganic pigment and is widely used in paints & coatings and plastics applications.
“Paints & coatings to be the fastest-growing application of inorganic pigments market during the forecast period.”
The inorganic pigments market has been segmented on the basis of application as paints & coatings, plastics, inks, and others. Paints & coatings and plastics are the fastest and the second-fastest growing applications for inorganic pigments. Paints & coatings and plastics are used in a wide number of industries, including building & construction, automotive, packaging, paper & printing, and textiles.
“Building & construction industry is expected to account for the largest market share during the forecast period.”
Inorganic pigments are used to improve the quality of construction as they provide heat stability, chemical inertness, durability, and weather resistance to construction materials. In the construction industry, inorganic pigments are also used in exterior applications such as fencing, decking, railing, siding, cladding, and roofing of buildings. Growing awareness and the booming business of interior decoration also drive the use of inorganic pigment in the building & construction industry.
“APAC is expected to register the highest growth during the forecast period.”
APAC is expected to register the highest growth during the forecast period due to the increasing population and urbanization. The increasing developments in the building & construction and automotive industries and increasing use of plastics in emerging countries of the region are providing huge growth opportunities for the inorganic pigments market.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the inorganic pigments market.
By Company Type - Tier 1: 25%, Tier: 50%, and Tier 3: 25%
By Designation - D Level: 30%, C Level: 20%, Others: 50%
By Region – Europe: 30%, APAC: 25%, North America: 20%, South America: 15%, Middle East & Africa: 10%
The inorganic pigments market comprises major players such as Venator (UK), The Chemours Company (US), Tronox Limited (US), LANXESS (Germany), Kronos Worldwide, Inc. (US), Cathay Industries (China), Clariant (Switzerland), Ferro Corporation (US), Heubach GmbH (Germany), Lomon Billions (China), Alabama Pigments Company (US), Cabot Corporation (US), Carl Schlenk AG (Germany), Dominion Colour Corporation (Canada), DyStar (US), ECKART GmbH (Germany), Heubach GmbH (Germany), INEOS Pigments (US), Jiangsu Yuxing Industry & Trade Co., Ltd. (China), Matapel Chemicals (Indonesia), Tasnee (Saudi Arabia), Sudarshan Chemicals (India), Sun Chemical (US), Tata Pigments (India), and Zhejiang Huayuan Pigments Co., Ltd. (China).
The market study covers the inorganic pigments market and its segments. It aims at estimating the market size and the growth potential of this market on the basis of pigment type, application, end-use industry, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall inorganic pigments market and the sub-segments. The stakeholders will be able to understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It will also help stakeholders comprehend the pulse of the market and provide them with information on key market drivers, restraints, and opportunities.
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