PUBLISHER: Grand View Research | PRODUCT CODE: 1376025
PUBLISHER: Grand View Research | PRODUCT CODE: 1376025
The global high performance pigments market is expected to reach USD 8.26 billion by 2030, according to a new report by Grand View Research, Inc.. It is expected to expand at a CAGR of 4.8% from 2023 to 2030. Growing of automotive coatings demand on account of increasing automobile production particularly in Asia Pacific is expected to remain a key driving factor for the global High Performance Pigments Market.
The growth of global personal care industry is also expected to have a positive influence on the market growth. Volatile raw material prices coupled with the high price of these pigments is expected to remain a key challenge for market participants. The market displays high competition among its industry participants which has resulted in companies taking strong measures to reduce manufacturing costs and yet provide superior quality products.
Inorganic high performance pigments emerged as the leading product segment with demand share exceeding 60% of the global market in 2014. However, organic high performance pigments are presumed to witness a faster growth rate on account of changing customer buying patterns and favorable regulatory scenario.