DIC Corporation, Ei Dupont De Nemours, Evonik Degussa, BASF SE, Shanghai Road Dyestuffs & Chemicals, Dow Chemical Company, Synthesia, Huntsman Corporation, Sensient Technologies, Clariant, Nippon Kayaku Company, Cabot Corporation among some of the main market players who are in competition in the Paint Pigments Market and are profiled in MRFR Analysis.
Paint Pigments Market – Overview
The Global Paint Pigments Market is expected to grow at healthy CAGR, some of the factors that fuels the growth of paint pigments market are growing demand of paints in building and construction sector and increasing use of it in aerospace coating. In addition to this, growth in automotive sales and production across the world is set to propel paint pigments market growth over the forecast period. Moreover, the major steps taken up by environmental bodies and government towards reducing water pollution is set to uplift low VOC paints pigment demand over the next seven years.
Industry/ Innovation/ Related News:
Dec 2015- BASF the chemical company has strengthened the global production share for pigments with investments in its two new sites. Company has increased the production capacity of high-performance diketopyrrolopyrrole pigments at Nanjing, China. In addition to this, BASF has planned to increase its capacity of production of versatile blue pigment at the site of Ludwigshafen. Versatile alfa blue pigment by BASF is specifically characterized by their excellent fastness properties. High-performance diketopyrrolopyrrole pigments produced by BASF in China is color-intensive and extremely lightfast pigments, marketed under the product name Irgazin. BASF increased the capacity of high-performance pigments, looking at increasing demand for it in Asia-Pacific region.
November 2016- Heubach planned to expand bismuth vanadate pigment capacity to fulfill the growing demand for high-performance pigments which is used as a substitute to replace lead chromates. With this expansion, Heubach is expected to double the existing capacities of paints pigments in plant at Germany.
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The products VANADUR® and VANADUR PLUS are the products of the company which are expected to continue to develop in near future looking at growing demand of Paints Pigment in region. The prominent use of VANADUR and VANADUR PLUS products are coatings and paints.
March 2017- LANXESS planned to expand its capacity of its worldwide production network. From the current 280,000 metric tons in Krefeld-Uerdingen, site red and black pigments capacity is gradually expected to increase to 280000 tons of metric by the end of year 2019 making it world’s largest iron oxide pigment plant, a synthetic base. In addition to this, company is also planning to expand the capacity of yellow pigment by 2000 metric tons annually in its site at Brazil.
Synthesis production facility of LANXESS was expected to be in operation in the first quarter of 2016 with a total capacity of 25000 metric tons per year. Overall, the company is expected to increase worldwide capacities of production to 400,000 metric tons of synthetic pigments by 2019 end.
Paint Pigments Manufacturers
The Paint Pigments manufacturers in the world comprise mostly of the prominent manufacturers along with some small manufacturers. The manufacturers typically enter into monthly contracts for the procurement of its raw materials as any sharp rise in raw material price could impact margins adversely. Manufactures from China contribute highly to the Asia Pacific production.
End-User application Industry
End Users Application of the Paint Pigments market includes automotive, consumer products, and aerospace among other segments. However, due to growing demand of it in automotive and transportation segment, it is the major consumer of Paint Pigments. In addition to this, residential coating and architectural products segment accounted for the second largest application segment which is expected to grow at high annual growth rate due to growing demand of Paint Pigments in architectural construction.
Threat of New Entrants
Considering the past and present Global Paint Pigments Market scenario, the target market is estimated to have medium threat of new entrants, owing to the strict environment regulation and high capital intensive nature of the industry. However, over the forecast period, the demand for paint pigments is expected to grow in consumer products, and aerospace segments due to wide variety of its end uses. Thus, in future it is anticipated that new entrants might enter into the Paint Pigments Market owing to the foreseen demand from the latter.
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