Market Research Future (MRFR) states that the global market for pigment dispersion is slated to exhibit a high revenue based CAGR during the forecast period (2017-2023). Pigment dispersion method is used to impart color to various substrates in the building and construction, automotive, and packaging industries.
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Drivers and Restraints
The impressive market performance is the result of a combination of factors such as presence of various manufacturers and well-established industries across the globe. A number of market players strive to strengthen their presence in the global market by tapping into the existing growth potential. For instance, in 2018, Clariant entered into a partnership with Lintech International to distribute its pigments for the plastics, coating and printing ink industries across the United States (US).
Furthermore, expansion of the paints and coatings industry is deemed to present remarkable growth opportunities for pigment manufacturers. The market also expands on the back of increased use of colored packaging materials for food packaging and consumer preference for thermal barrier coatings in residential construction.
On the downside, several government bodies implement stringent regulations that restrict the use of toxic organic chemicals for production of pigment dispersion, which partially impedes the market growth. However, the overall market will remain unaffected on account of onslaught of organic pigments that are alternatives to some of the toxic inorganic ones. With manufacturers investing in research and development activities to replace metals in the formulation to produce environmental-friendly pigments, the market is on its way to grow exponentially over the coming years.
Global Top 10 Key Players
- BASF SE
- PPG Industries, Inc.
- The Sherwin-Williams Company
- Akzo Nobel N.V.
- RPM International Inc.
- Tikkurila Oyj
- KANSAI PAINT CO.,LTD
- Kelly-Moore Paints
- Dunn-Edwards Corporation
The Global Pigment dispersion market is categorized into five regions based on geography, namely–North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Among them, the North America is one of the largest market share holder as of 2016 and is predicted to grow with the healthy CAGR over the assessment period. The Middle Eastern & African market is categorized into Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait. Aforementioned nations are predicted to drive the demand for pigment dispersion in the upcoming years due to presence of mature oil reserves and oil refineries and it is anticipated that pigment dispersion based protective coatings for industrial machinery utilization is higher. Moreover, rising demand for pigment dispersion based architectural coatings consumption in the Middle East & African countries is predicted to fuel the growth of the market. In North America, the pigment dispersion market is predicted to grow with the highest CAGR during the assessment period, 2017 to 2023. Furniture coatings and protective coatings for aerospace industry is the main area for pigment dispersion consumption in the region, as majority of furniture and aerospace vehicles are produced in the North American region.
European pigment dispersion market is classified into Russia, Germany, U.K, Spain, Italy, and France are expected to be the dominant region on account of increasing automobile manufacturing coupled with increasing innovation. Moreover, the robust presence of automobile manufacturers along with the increasing consumption of lubricants is predicted to fuel the demand for pigment dispersion over the assessment period. In Latin America, countries such as Brazil and Mexico is expected to witness decline in market growth on account of financial and political turmoil. Asia Pacific is predicted to be a healthy growing market due to emerging crude oil processing as well as rapid industrialization in India and China. Moreover, rising number of passenger cars and heavy duty vehicles along with increased use of pigment dispersion based coatings is expected to drive the demand for pigment dispersion in this region.
The global pigment dispersion market is categorized on the basis of type, application, and region. On the basis of type, the market is bifurcated into water, solvent, and others. On the basis of end use industry, the pigment dispersion market is categorized into construction, automobile, aerospace, furniture, printing and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
- Pigment Dispersion Manufacturers
- Traders and Distributors of Pigment Dispersion
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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