Pigments are particles added to the polymer base in order to provide a specific color or functional benefits to the plastic. Pigments are widely adopted across wide application areas including color painting, ink, food, cosmetics, plastic, fabric and others. Various color shades and properties can be achieved with the use of organic and inorganic pigments. The global Plastic pigments Market is expected to foray ahead with a single digit CAGR over the forecast period of 2019-2029. Increase in plastic production across the globe has leveraged huge adoption avenues for the plastic pigments. As per Plastics Europe, the global plastic production in 2016 was recorded to be around 280 million tons that further increased to 350 million tons in 2017. Moreover, factors such as strong demand from the end-use industries, technological advancements coupled with high demand for High-Performance Pigments (HPPs) are expected to propel the plastic pigment market growth till 2029. However, volatile raw material prices along with stringent environmental regulations are acting as a restraining factor to the plastic pigments market growth over the forecast period.
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Major end-use industries including packaging, automotive, construction etc. are inclined towards high performance pigments that is creating growth opportunities for plastic pigments market. High performance pigments possess various advantages including high insolubility, heat stability, color strength, low migration, solvent fastness etc. Further, growth in the end-use industries is augmenting the adoption of plastic pigments, thereby driving the plastic pigments market growth over the forecast period. According to Institution of Civil Engineers, UK, a report “Global Construction Perspectives and Oxford Economics” suggests that the global construction market is expected to reach US$ 8 trillion by the end of 2030. Also, as per OICA (International Organization of Motor Vehicle Manufacturers), Paris, the total cars and commercial vehicle production in 2016 was recorded to be around 72.1 million that further escalated to 73.4 million in 2017. Therefore, growth in end-use industries consequently calls for plastic pigments.
East Asia along with South Asia & Oceania are expected to contribute to a majority of the market share in 2018, in terms of volume, owing to high adoption of plastic pigments across various end-use industries.
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High adoption of plastic pigments in automotive, building & construction and packaging industry has fuelled the regional market. Furthermore, rapidly growing end-user industries in China, India, Japan and South Korea is poised to drive the regional market under plastic pigments market over the forecast period. Also, high plastic production in China makes it a key country in plastic pigments market. Moreover, Europe has captured a fair amount of percentage in the plastic pigments market. North America is expected to follow Europe in 2018 in terms of volume in plastic pigment market. Also, Middle East & Africa along with Latin America accounts for substantial market shares in terms of plastic pigments demand in 2018.
Key players of Plastic pigments Market
Prominent players in the global plastic pigments market are Clariant (Switzerland), Huntsman (US), BASF (Germany), DIC (Japan), LANXESS (Germany) and Cabot (US) etc. The plastic pigments market consists of well-diversified global and regional players with global vendors ruling the market.
The research report presents a comprehensive assessment of the Plastic pigments market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Plastic pigments market report provides analysis and information, according to market segments such as geographies, type and application.
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