The global paper pigments market is estimated to be USD 13.52 billion in 2018 and is projected to reach USD 17.72 billion by 2023, at a CAGR of 5.6% from 2018 to 2023. Increasing consumption of paper for packaging applications, high demand for paper pigments in emerging countries, and significant demand for uncoated paper are projected to drive the paper pigments market during the forecast period.
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The use of paper as a renewable and recyclable product is expected to increase owing to the growing environmental regulations. Thus, the paper pigments market is expected to witness high growth during the forecast period. Moreover, quality norms in the paper industry are also expected to propel the demand for high quality coated paper, which in turn, are expected to drive the demand for paper pigments as coating materials.
By type, calcium carbonate is projected to be the largest and the fastest-growing type of paper pigment. It is the cheapest and the most effective paper pigment and also provides 95.0% brightness to paper. Calcium carbonate is expected to be the most widely used type in the fastest-growing APAC market. In addition, growing need for high-quality paper has fueled the use of calcium carbonate.
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The key players in the market include, Omya (Switzerland), Imerys (France), Minerals Technologies (US), BASF (Germany), Ashapura Group (India), Huber (US), Kemira Oyj (Finland), Chemours (US), Thiele Kaolin Company (US), and KaMin/CADAM (US). The pigments market report analyzes the key growth strategies adopted by leading market players between 2014 and 2018, which include investments & expansions, agreements, partnerships & joint ventures, and mergers & acquisitions.
Imerys is a major manufacturer of paper pigments. The company provides paper pigments under its energy solutions & specialties business segment which accounts for 29.0% of its revenue. Carbonates, a division of the energy solutions & specialties segment, accounts for 46.0% of the segment’s revenue. The company has established a strong foothold in the pigments market through investments & expansions, joint ventures, and mergers & acquisitions. In February 2018, Imerys acquired the carbonate businesses of Vimal Microns and Vee Microns which are producers of calcium carbonate. This acquisition has strengthened the presence of the company in APAC. Similarly, in February 2014, Imerys acquired AMCOL International Corporation (US) for approximately USD 1.6 billion. This deal enabled Imerys increase its presence across 26 countries along with a strong footprint in the US.
Omya has majorly adopted investments & expansions and agreements, partnerships & joint ventures strategies to grow in the paper pigments market. In November 2017, Omya planned expansion in Western India at 2 sites, Surat and Taloja. This development is expected to help meet the demand for paper pigments in India. In May 2017, Omya and Ittihad Paper entered into an agreement to build a new Precipitated Calcium Carbonate (PPC) manufacturing plant in Abu Dhabi, UAE. Ittihad Paper is expected to produce high-quality printing and writing paper. This development helped the growth of both companies in the paper industry, thereby strengthening the foothold of Omya in the paper pigments market.
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