PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250716
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250716
According to Stratistics MRC, the Global Pigment Dispersions Market is accounted for $24.5 billion in 2022 and is expected to reach $35.4 billion by 2028 growing at a CAGR of 6.3% during the forecast period. Pigment dispersions are used to make a calibrated for liquid coatings, paints, or inks. The pigment wetting, grinding phase, and pigment suspension stability are the dispersion methods. The pigment aggregates are then broken back together to form larger structures. It is the process by which mechanical shear breaks down pigment powder into individual particles. To maintain the paint's quality, essential colours and effective coating of the product or material during production, dispersion is a must for all high-grade paints. Dry pigments are converted into stable, compact pigment dispersions by the pigment dispersion process in order to get the correct colour and balance.
According to the FDA, materials that are permissible for use as food colorants are allowed to be used as coloring agents for food packaging and printing inks. According to the American Coatings Association, in 2020, the coating industry shipped more than $13.6 billion of architectural coatings.
Growing production of non-toxic organic pigment dispersions
The majority of high-performance pigments are created from eco-friendly materials that have little to no risk to people's health and safety. Because they outperform traditional pigments in terms of light fastness, chemical resistance, weather resistance, and heat stability, high-performance organic pigments are becoming more popular. The development of natural pigments for specific applications provides manufacturers of pigment dispersions and significantly expands the particular market.
Concerns about the environment
The mixed metal oxides in the pigment dispersion are derived from chromium, lead, cadmium, and mercury. Many industries need certify these pigments before employing them. Also, there are concerns about reducing pollution because the market's expansion is being constrained by a lack of treatment facilities and rigorous government regulations. This is because the disposal of these heavy metals is not ecologically friendly.
Growing population and urbanization
Urbanization and population increase also significantly influence the market and boost the use of pigment dispersions. Pigment dispersions are becoming increasingly popular as the building and industrial industries in developing economies expand. Growth in industrialization, increased demand due to shifting demographics, and government measures to encourage company investments for industrial development is driving the market.
The recycling of plastic
The pigment dispersions have a lot of advantages, but they also have certain drawbacks, like rules governing plastic recycling. Recycling plastic involves recovering discarded plastic and processing it once more to create a useful product. It is also difficult to maintain a balance of cost regulation mandate and the required applications that are associated with the pigment dispersion market and hence, creating challenges for the market.
The COVID-19 pandemic had economic repercussions impacting every sphere of life. Two common issues plaguing every industry are the availability of raw materials and supply chain disruptions. This has also severely impacted the overall paints and coatings market. The core industries, construction industry, and automobile industries that utilize paints and coatings heavily have been impacted owing to shortages of labour, raising safety concerns, and government-imposed lockdowns led to the closing down of manufacturing plants. However, during the lockdown consumers have taken up DIY projects utilizing paints.
The organic pigments segment is expected to be the largest during the forecast period
The organic pigments segment is estimated to have a lucrative growth, due to it offers easier dispersion properties on various substrates. Many of the high-performance pigments are made up of environment-friendly substances and pose minimal or no harm to the health of human beings. Hence the use of organic pigments is increasing as they have fastness to chemical exposure, higher light fastness, weather fastness, and heat stability than conventional pigments.
The solvent-based dispersions segment is expected to have the highest CAGR during the forecast period
The solvent-based dispersions segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the rise in consumption from the growing residential and non-residential building construction. These are also primarily used on the interior and exterior of many residential and non-residential buildings. There has been significant rise in the construction of these buildings and these factors are the leading consumer of decorative coatings because of the increase in demand for the new painting and tree painting.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing infrastructure activities and increased spending from the government on public infrastructure development. The large proportion is due to the quantity of raw materials and the presence of low-cost labour, which has attracted firms from diverse industries to set up manufacturing facilities in the region to reap greater benefits. Thus, these factors are influencing the growth of the region
Europe is projected to have the highest CAGR over the forecast period, owing to increasing numbers of industries present in the countries. Dispersions are in high demand in these industries. The demographics have changed as a result of the advancement of industrialization, and the government is also promoting by launching numerous programmes that are anticipated to draw a lot of business investment for the growth of industries. These are creating an upcoming demand for the market.
Some of the key players profiled in the Pigment Dispersions Market include Clariant International Ltd, Heubach GmbH, Du Pont De Nemours & Co., BASF SE, Cabot Corporation, Flint Group, Sudarshan Chemicals, Rockwood Holdings Inc., Pidilite Industries Ltd, Zhejiang Longsheng Group Co. Ltd, The Shepherd Color Company, Apollo Colors Inc., Chromaflo Technologies Corporation, Ferro Corporation, Kronos Worldwide Inc., DIC Corporation and Solvay S.A.
In June 2021, DIC Corporation, a Japan-based chemical company, acquired BASF SE pigment business for an undisclosed amount. The acquisition would broaden DIC's portfolio as a global manufacturer of pigments, including those for electronic displays, cosmetics, coatings, plastics, inks, and specialty applications.
In September 2020, BASF, a Germany-based chemical company, introduced an innovative dura-color technology, which is an anti-aging paint concept that helps protect the paint from deterioration over a long period. It has innovative and highly durable polymer dispersions for paints that resist damage from sunlight and humidity with an optimized surface to prevent dirt penetration and deter pollution.
Pigment Types Covered:
Dispersions Covered:
Applications Covered:
End Users Covered:
Regions Covered:
All the customers of this report will be entitled to receive one of the following free customization options: