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The global pigment market size will reach 21.8 billion US dollars in 2026

2023-08-31 10:14:21
6次

The global pigment market size is estimated to be 4.86 billion US dollars in 2018, and will grow at a compound annual growth rate of over 4.9% from 2019 to 2026.



With the support of a large range of end users, the potential of pigments is increasingly recognized by many participants in the chemical industry. The widespread demand for corrosion inhibition and coloring in various expanded fields such as paint and coatings, architecture, and printing inks has led to an increase in demand for high-performance special pigments.



In 2018, paint and coatings had the highest demand for pigments, especially in construction and automotive applications. With the development of 3D printing technology, the global printing ink industry has achieved unprecedented development in recent years.


In order to survive in a fiercely competitive environment, certain pigment manufacturing companies are focusing on strengthening their product supply to gain better market share. In August 2019, DIC Corporation, a chemical company headquartered in Tokyo, signed an agreement to acquire BASF's global pigment business (also known as BASF Colors&Effects), a German company. The transaction aims to expand DIC's product portfolio as a pigment manufacturer. DIC's goal is to increase its sales target to 8 billion euros by the end of 2025 after the acquisition.


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The widespread use of plastics in various fields



According to the statistics of the European Plastic Trade Association, plastic production increased from 245 million tons in 2006 to over 348 million tons in 2017. Due to the low cost and light weight of plastics, the demand for plastics is constantly increasing, which has driven the demand for pigments in the plastic industry.


Restrict the use of plastic


In developed regions such as North America and Europe, with increasing awareness of the need to protect the environment and the harmful effects of using plastics, their use has been largely limited. Each department is committed to using biodegradable and sustainable alternatives.

The emergence of organic pigments


Organic pigments are widely recognized worldwide for their sustainability. People are increasingly aware of the necessity of protecting the environment, as well as strict government regulations on the use of chemical free products, which have driven the demand for these compounds.