Plastic Pigments Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Plastic Pigments Market stood at USD 12.75 billion in 2022 and is anticipated to grow with a CAGR of 5.34% in the forecast period, 2023-2028. The initiatives taken by the government based on plastic pigments has led to favorable market conditions for the Global Plastic Pigments Market.
Several factors contribute to the growth of various plastic pigments Market products. In the United States, the Department of Energy launched the Plastics Innovation Challenge in 2018. This groundbreaking initiative aims to accelerate innovations in energy-efficient plastic recycling technologies, with a particular focus on the development of new pigments that can be easily separated during the recycling process.
By addressing the challenges in plastic waste management, the Department of Energy is spearheading efforts to create a more sustainable future for our planet. Additionally, the National Science Foundation (NSF) is actively funding projects that seek to engineer the elimination of end-of-life plastic waste.
Through cutting-edge research and collaboration, the NSF is driving advancements in the field of environmentally friendly pigments that not only contribute to more efficient recycling but also reduce the overall environmental impact of plastic production and disposal. By investing in these innovative projects, the NSF is at the forefront of promoting a circular economy and combating the global plastic waste crisis.
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In the production of paints and coatings, pigments are extensively utilized due to the significant enhancement they provide in coating performance. In the Asia-Pacific region, construction and infrastructure activities are witnessing a notable surge, with architectural and decorative coatings being the major consumers of pigments. According to the National Investment Promotion & Facilitation Agency, the construction sector in India is projected to become the third-largest globally by 2025.
Moreover, the construction output is anticipated to grow at an average rate of 7.1% each year, while infrastructure activities have reached a substantial value of $24.72 billion between April 2000 and March 2021. The incorporation of pigments in construction components contributes to their ability to withstand extreme weather conditions. Therefore, the escalating construction activities, coupled with favorable government measures, are driving the demand for paint and coatings, consequently boosting the plastic pigment market.
The Global Plastic Pigments Market is segmented into type, application, regional distribution, and company. Based on its type, the inorganic segment held the largest share in the market. The heat stability, easy dispersing, lightfastness, weatherability, and high opacity of inorganic pigments are driving their widespread applications in various end-use industries. These pigments, derived from mineral compounds, possess exceptional stability against light and heat. In addition, their cost-effectiveness compared to organic pigments makes them a popular choice. Furthermore, the superior performance offered by inorganic pigments, surpassing that of organic pigments, further contributes to the revenue growth of this segment. As a result, the demand for inorganic pigments continues to escalate in the market, solidifying their position as a preferred coloring solution.
Based on region, the Asia Pacific segment is expected to grow during the forecast period.
The increasing demand for plastic pigments in major end-use industries in the region, such as automotive, construction, packaging, and consumer goods, is expected to continue driving market revenue growth during the forecast period. This growth can be attributed to several factors. Firstly, the rapid expansion of the automotive industry in countries within the region, coupled with the rising popularity of electric vehicles, has led to a surge in demand for high-performance automotive coatings, consequently increasing the application of plastic pigments. Additionally, the growing demand for plastics packaging across various industries has further contributed to the increased usage of plastic pigments.
To cater to this demand, manufacturers such as DIC Corporation and Sudarshan Chemical Industries have been investing significantly in their efforts to offer high-quality organic and inorganic color solutions, as well as pigments specifically designed for automotive, construction, packaging, and consumer goods applications. These investments are aimed at meeting the evolving needs of the market and ensuring the availability of innovative and reliable solutions for end-users.
Overall, the combination of factors driving the demand for plastic pigments, along with the continuous investments in research and development by key manufacturers, is expected to fuel the growth of the market in the region during the forecast period.
Major companies operating in the Global Plastic Pigments Market are:
- BASF SE
- Clariant AG
- DIC Corporation
- Cabot Corporation
- Ferro Corporation
- Tronox Inc.
- Heubach GmbH
- Sudarshan Chemical Industries Ltd
- Chemours Company
- DCL Corporation
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“Growing application of plastic pigments in various end-user industries are key drivers of the plastic pigments market. Growth in the competitive landscape and the presence of well-established companies in the market who are dedicated to enhancing their productivity of plastic pigments with every passing year are anticipated to register impressive growth in the Global Plastic Pigments Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Plastic Pigments Market By Type (Inorganic, Organic, Specialty), By Application (Paints & Coatings, Plastics, Printing Inks, Construction, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Plastic Pigments Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Plastic Pigments Market.
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Table of Content-Plastic Pigments Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Global Plastic Pigments Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Type (Inorganic, Organic, Specialty)
4.2.2. By Application (Paints & Coatings, Plastics, Printing Inks, Construction, Others)
4.2.3. By Region
4.2.4. By Company (2022)
4.3. Market Map
4.3.1. By Type
4.3.2. By Application
4.3.3. By Region
- Asia Pacific Plastic Pigments Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type
5.2.2. By Application
5.2.3. By Country
5.3. Asia Pacific: Country Analysis
5.3.1. China Plastic Pigments Market Outlook
5.3.1.1. Market Size & Forecast
5.3.1.1.1. By Value
5.3.1.2. Market Share & Forecast
5.3.1.2.1. By Type
5.3.1.2.2. By Application
5.3.2. India Plastic Pigments Market Outlook
5.3.2.1. Market Size & Forecast
5.3.2.1.1. By Value
5.3.2.2. Market Share & Forecast
5.3.2.2.1. By Type
5.3.2.2.2. By Application
5.3.3. Australia Plastic Pigments Market Outlook
5.3.3.1. Market Size & Forecast
5.3.3.1.1. By Value
5.3.3.2. Market Share & Forecast
5.3.3.2.1. By Type
5.3.3.2.2. By Application