January 06, 2021
As per the report titled ‘Global Plastic Pigments Market Analysis, 2020’, available with Market Study Report LLC, global plastic pigments market is projected to accrue notable returns in the near future, registering a CAGR of 7% over 2020-2025.
Rise of the construction sector on account of rapid urbanization and rising interest among governments toward infrastructure development is boosting the demand for paints and coatings, which in turn is augmenting global plastic pigments market growth, claim industry experts.
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Based on type, inorganic segment captured majority of global plastic pigments market share in 2019, however, is anticipated witness a decline in demand due to their harmful effects on the human body. On the other hand, organic segment is anticipated to gain considerable traction over the forecast timeframe, as they are eco-friendly in nature and pose no threat to the humans.
Elaborating on the end-use spectrum, global plastic pigments market is fragmented into plastics (packaging), paints & coatings, printing inks, automotive, and others. Of these, paint and coating segment accounted for highest industry share in 2019 and is likely to witness a positive growth trend in the upcoming years, largely driven by increasing construction of residential and commercial buildings. For the record, the paint & coating industry has three major objectives, imparting aesthetic appeal/decorative essence to surfaces and products, damage protection from harsh environment, and tagging specific product attributes. In this regard, plastics pigments help manufacturers achieve these targets effectively.
Considering the geographical scope, global plastic pigments market size spans across North America (US, Canada, Mexico), Latin America (Brazil, Argentina, Chile), Europe (UK, France, Italy, Spain, Germany, Russia + CIS), Asia Pacific (India, China, South Korea), and Middle East & Africa (UAE, Saudi Arabia, South Africa).
Top-tier players in global plastic pigments market sphere are Heubach GmbH, Kronos Worldwide, Inc., The Chemours Company, Clariant AG, Cabot Corp., Ferro Corp., Lanxess AG, DIC Corp., BASF SE, and Venator Materials plc.