The global pigment market has witnessed significant growth over the past few years owing to development in end user industries such as paints & coatings, construction etc and increased trend towards demand of speciality products. This trend is forecast to continue in the coming years due to advancement of new coating technology and availability of suitable alternatives for synthetic inorganic pigments.
It is the high-end user spending that has resulted in an enhanced lifestyle with a wide variety of choices. While this trend has led to the advancement of the pigments market in developed countries, we still have to see a significant evolution of the pigments market in emerging countries. This divide was clearly visible whilst speaking to manufacturers and suppliers in the European and Asia-Pacific region. Some of the discussions on an international level are how factors such as digitisation, individualization, miniaturisation, will play a major role in the global pigments industry in changing its colours.
Further, the global pigments market was worth $12.7 billion in 2015, anticipated to grow at a compound annual growth rate (CAGR) of 4.5 percent through 2024, according to a Global Market Insights report (August 2016).
These are primarily used as colourants, and extensively used in the paints & coatings industry, not only to impart colour and finish but also protect the surface from weathering and corrosion. Consumers are also demanding high-end quality paints such as those with metallic lustre which will boost the demand for speciality products.
Growing construction sector significantly complements the industry owing to its widespread application in manufacturing coloured asphalt, shingles, metal panels, wood construction and cooler tiles. One of the most important applications in the construction industry is concrete colourization due to properties such as high dispersibility and good tinting property.
In addition, to the pigments market, we also look at textile chemicals for this month. Consumers are increasingly looking for textiles that provide comfort and are suited to an active lifestyle, along with being sustainable. Moreover, manufacturers are motivated to develop sustainability in colouring systems.
It gives us immense pleasure as we celebrate our Anniversary Issue this month. The year has just gone by with the support of our network and content contributors. Moreover, we have also got valuable insights, which will help us enhance our write-ups in the coming years. See what our collaborators and contributors have to say on page no (NO).
In the coming few years we will plan to rope in the voices of the user industry. This will be beneficial as an indication of the things to come and direction that the future consumerism will be moving towards.
Read More: Keep moving…A long way to go!
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