Pigments, also loosely called as colorants, have been an integral part of our day-to-day life for several decades. And in the near future too, according to the findings of this business intelligence study, the demand in the pigments market will continue to expand profitably, feeding-off the prosperity of its numerous end-use industries such as paints and coatings, printing inks, construction materials, and plastics.
While pigments were derived from plants, animals, and naturally occurring minerals in the older days, recent technological advancements have paved way to synthesize them from petrochemical sources. Pigments manufacturers are now offering products that are exceptional in coloring strength, stable against heat, chemical, weather, and light, offer opacity, and are durable. This pigments market report has projected the global demand to multiply at a notable CAGR of 4.0 percent during the forecast period of 2017 to 2023. In terms of revenue, the global pigments market is estimated to attain a value of $31.9 billion by 2023, considerably more than the market’s evaluated worth of $25.4 billion as of 2017.
Titanium Dioxide Identified as Key Inorganic Product Segment
Based on product type, the pigments market has been segmented into inorganic, organic, and specialty, with the former continuously constituting for the most prominent bulk of the overall demand. The inorganic segment, which is further sub-segmented into titanium dioxide, carbon black, cadmium pigments, iron oxide, chromium compounds, and others including bismuth vanadium, generated a demand worth of $18.9 billion as of 2017. Among the sub-segments, titanium dioxide is most in-demand, promising to constitute for 70.4 percent of the total demand of the inorganic segment of the global pigments market by the end of 2023.
Titanium dioxide is used extensively as white pigments due to its high refractive index, excellent light scattering properties, and ability to reflect light. Titanium dioxide is employed as white pigments in different types of paints & coatings owing to its opacity and whiteness. Rise in automotive production and increase in construction activities in Asia Pacific are projected to propel the demand for titanium dioxide pigments in the near future. The report bifurcates the organic segment into Phthalocyanine, Azo, Quinacridone, and others such as quinophthalone, whereas specialty segment has been divided into classic organic, metallic, high performance organic, fluorescent, complex inorganic, light interference, thermochromic, and luminescent or phosphorescent.
Pigments, also loosely called as colorants, have been an integral part of our day-to-day life for several decades. And in the near future too, according to the findings of this business intelligence study, the demand in the pigments market will continue to expand profitably, feeding-off the prosperity of its numerous end-use industries such as paints and coatings, printing inks, construction materials, and plastics.
While pigments were derived from plants, animals, and naturally occurring minerals in the older days, recent technological advancements have paved way to synthesize them from petrochemical sources. Pigments manufacturers are now offering products that are exceptional in coloring strength, stable against heat, chemical, weather, and light, offer opacity, and are durable. This pigments market report has projected the global demand to multiply at a notable CAGR of 4.0 percent during the forecast period of 2017 to 2023. In terms of revenue, the global pigments market is estimated to attain a value of $31.9 billion by 2023, considerably more than the market’s evaluated worth of $25.4 billion as of 2017.
Titanium Dioxide Identified as Key Inorganic Product Segment
Based on product type, the pigments market has been segmented into inorganic, organic, and specialty, with the former continuously constituting for the most prominent bulk of the overall demand. The inorganic segment, which is further sub-segmented into titanium dioxide, carbon black, cadmium pigments, iron oxide, chromium compounds, and others including bismuth vanadium, generated a demand worth of $18.9 billion as of 2017. Among the sub-segments, titanium dioxide is most in-demand, promising to constitute for 70.4 percent of the total demand of the inorganic segment of the global pigments market by the end of 2023.
Titanium dioxide is used extensively as white pigments due to its high refractive index, excellent light scattering properties, and ability to reflect light. Titanium dioxide is employed as white pigments in different types of paints & coatings owing to its opacity and whiteness. Rise in automotive production and increase in construction activities in Asia Pacific are projected to propel the demand for titanium dioxide pigments in the near future. The report bifurcates the organic segment into Phthalocyanine, Azo, Quinacridone, and others such as quinophthalone, whereas specialty segment has been divided into classic organic, metallic, high performance organic, fluorescent, complex inorganic, light interference, thermochromic, and luminescent or phosphorescent.
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