The global plastic pigments market is expected to reach USD 16.82 Billion by 2026, according to a new report by Reports and Data. Plastic pigments comprise insoluble organic or inorganic particles added to the polymer base to impart a specific color.
A substantial rise in plastic packaging has propelled the demand for plastic pigments in the upcoming years. Rising application of plastics in the construction, consumer goods, automotive, and other industries has further provided a boost to the market demand. Furthermore, increasing demand for high performing pigments is anticipated to drive market growth for plastic pigments.
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Plastic pigments also improve the characteristics of packaging products such as opacity and durability. In the food and beverage segment, the plastic pigments aid to enhance the physical appearance of packaged products such as plastic trays, bottles, containers, and packaged films.
Additionally, the rapid growth of industrialization in developing countries such as China and India, among others is also causative of the growth of the market in the forecast period.
Fluctuations in the price of raw materials, and stringent norms and regulations may create hindrances in the growth of the market in the forecast period.
Further key findings from the report suggest
- By product type, inorganic plastic pigments have held a major market share in 2018 and are forecasted to grow at a rate of 6.7% in the forecast period. Inorganic pigments such as metal oxides and sulfides, and carbon black, among others get more easily dispersed in the resin. Of the inorganic pigments, titanium dioxide is the most expensively used pigment in the plastics industry.
- Organic plastic pigments are hard to disperse and have a tendency to form agglomerates (clumps of pigment particles). These agglomerates may cause spots and specks in the finished product.
- By application, the packaging industry contributed to the largest market share in 2018, due to the growing demand for plastic pigments in the packaging industry for aesthetic purposes.
- The market in the Asia Pacific region dominated the market in 2018 and is forecasted to grow at a rate of 7.3% in the forecast period. The market dominance of the APAC region may be attributed to the growth of end-user application industries.
- Key participants include BASF SE, Clariant, Dic Corporation, Cabot Corporation, Ferro Corporation, Tronox, Heubach, Sudarshan Chemical Industries, Eckart GmbH, and Dominion Color Corporation, among others
- In July 2018, Ferro Corporation, a leading player in the market, expanded its production facility in Girardota, Colombia, to cater to the growing global demand for its Ultramarine Blue and Micronized Iron Oxide pigments.
- In July 2019, BASF SE, a leading player in the market, presented innovation highlights from its range of Colors & Effects pigments for plastic applications at the K trade fair. The launch of new products comprises two new Lumina Royal effect pigments, Microlen Piano Black, and a black and red addition to the Sicopal product line, which are particularly suggested for recycling materials and demanding applications.
For the purpose of this report, Reports and Data have segmented the global plastic pigments market on the basis of product type, sales channel, application, and region:
Product Type Cause Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Organic Plastics Pigments
- Azo (Mono- and Di-)
- Metal Complexes
- Inorganic Plastic Pigments
- Titanium Dioxide
- Carbon Black
Sales Channel Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Direct Sales Channel
- Distribution Channel
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Consumer Goods
Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
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