The scale of pigment market will reach US $26.598 billion by 2022
According to a new report released by Allied market, the global pigment market will reach US $26.598 billion by 2022, with a compound annual growth rate of 4.1% from 2015 to 2022. In 2015, the global pigment market value was US $20.023 billion, and the main revenue came from the coating industry. The Asia Pacific region dominated the global pigment Market in 2015 and is expected to maintain this advantage until 2022.
Pigment is a kind of material that can improve the appearance of substrate or give it color, including black, white and color pigments. By physical mixing with the substrate, pigments can be incorporated into various insoluble materials. The pigment has three main functions: giving the color of the medium itself; hiding and eliminating the existing color of the substrate; and improving the film strength.
The global pigment market is roughly divided into three areas: organic pigments, machine pigments and special pigments.
Organic pigments contain carbon atoms, which are basically non-toxic or have low toxicity, so most of them have environmental safety characteristics. These pigments are obtained by processing coal tar, petroleum fraction, succinic acid, aniline and phthalonitrile. Organic pigments provide high color strength and durability and can produce a wider range of bright colors such as blue, green, yellow, red and orange. They are usually relatively opaque and chemically inert. The main organic pigments include azo, phthalocyanine, quinacridone and so on.
Inorganic pigment is a kind of coloring material obtained from metal oxide by high temperature calcination. They have high light resistance, high covering power, non migration, non encapsulation and non exudation. Compared with organic pigments, inorganic pigments can withstand extreme weather conditions and high temperatures, so they are widely used in coatings, plastics, building materials, printing inks and other fields. The main varieties of inorganic pigments include titanium dioxide pigment, iron oxide pigment, cadmium pigment, carbon black pigment, chromium oxide pigment and composite inorganic pigment.
The special pigment can produce a series of bright colors and give the product brilliant luster. In addition, it has excellent covering power and light resistance, which makes it an ideal choice for high-performance coatings, plastics and cosmetics. These pigments are usually used to enhance the appearance, value and performance of products. Its varieties include classical special organic pigments, metal pigments, functional pigments, light interference pigments, fluorescent pigments, luminous pigments and thermochromic pigments.
Consumption growth in the automotive and building materials industries is expected to drive growth in the pigment market. The application range of pigments in flexible packaging, customized products and personalized products will be increasing. With the development of market terminal application field, more and more people are aware of the importance of driving the sustainable development of global pigment market.
The progress of nanotechnology and the research progress of renewable organic pigments are expected to provide new important development opportunities for the market. The strict management of government organizations according to environmental standards to check the environmental safety and compliance of pigments, as well as fluctuations in raw material prices, will affect the growth of the global pigment market.
The acceleration of urbanization in emerging economies, such as India, China, Brazil and other countries, will lead to a large number of investment in civil construction projects and the growth of automobile consumption, which will become the key driving factor for the development of coating industry, and then drive the growth of pigment consumption. In 2015, the coating industry accounted for 2 / 5 of the total pigment market consumption, and it is expected to maintain its dominant position in the future, with an annual compound growth rate of 4.6%.
The research shows that China is the main consumer of pigments in the world, accounting for about 3 / 5 of the total market in Asia Pacific region, followed by India. In North America, the United States is the main market for pigments, and the compound growth rate is expected to reach 4.2% in the future.