Global Paint Pigments Market Size By Type, By Application, By End-Use Industry, By Geographic Scope And Forecast
Report ID: 19754|No. of Pages: 202
Global Paint Pigments Market Size By Type, By Application, By End-Use Industry, By Geographic Scope And Forecast
Paint Pigments Market Size And Forecast
Paint Pigments Market size was valued at USD 43.42 Billion in 2023 and is projected to reach USD 111.81 Billion by 2030, growing at a CAGR of 12.55% during the forecast period 2024-2030.
Global Paint Pigments Market Drivers
The market drivers for the Paint Pigments Market can be influenced by various factors. These may include:
- Growth of the Construction Industry: Urbanisation, Infrastructure Development, and Residential and Commercial Construction Projects all contribute to the growth of the construction industry, which in turn raises demand for paints and coatings and, consequently, paint pigments.
- The need for automotive coatings including pigments—used for both corrosion protection and aesthetic purposes—is driven by the rise of the automotive sector, which includes the production of automobiles, trucks, and other vehicles.
- Growing Disposable Income: Rising levels of disposable income, particularly in emerging nations, encourage greater expenditure on interior design, car customisation, and home remodelling, which in turn increases demand for paints and pigments.
- Consumer Preferences for Colour: A broad variety of paint pigments, such as metallic, pearlescent, and fluorescent pigments, are needed to create desired aesthetic effects because consumers like bright colours, distinctive finishes, and customised coatings.
- Urbanisation and Infrastructure Development: As a result of the fast-paced construction of roads, bridges, airports, and commercial buildings, there is a greater need for paints and coatings, which is driving the market for paint pigments.
- Technological Developments: New developments in the production of pigments, like those involving nanoparticles, encapsulation methods, and environmentally friendly formulations, improve the performance, sustainability, and durability of pigments and propel the market upward.
- Environmental concerns and regulatory compliance: Strict laws governing hazardous materials, low-VOC paint pigments, and emissions of volatile organic compounds (VOCs) fuel demand for eco-friendly and low-VOC paints, spurring product development and market growth.
- Trend towards Water-Based Paints: As a result of environmental restrictions and customer desire for safer and healthier products, water-based paints are becoming more and more preferred over solvent-based paints. This is driving up demand for water-based pigment dispersions and additives.
- Developments in Automotive Coatings: The need for sophisticated pigment formulations specifically suited for automotive applications is driven by advancements in automotive coatings, such as self-healing, scratch-resistant, and special effect pigments.
- Expanding Do-It-Yourself (DIY) Culture: The market for paint pigments is stimulated by the rising popularity of do-it-yourself home repair projects and interior décor, which in turn promotes demand for consumer-friendly paint products and colour options.
Global Paint Pigments Market Restraints
Several factors can act as restraints or challenges for the Paint Pigments Market. These may include:
- Price volatility of raw materials: Paint pigments are made from a variety of raw materials, such as chemicals, minerals, and organic molecules. For producers of paint pigments, variations in the pricing of raw materials such as titanium dioxide, iron oxide, and specialised pigments can have an effect on their profit margins and costs of production.
- Environmental Regulations: Product development and market demand may be impacted by regulatory scrutiny and environmental concerns about the use of specific pigments, such as those containing heavy metals and volatile organic compounds (VOCs). Making investments in sustainable practices and greener technologies may be necessary to comply with strict environmental requirements.
- Products Used in Their Place: The paint industry is always looking into new and innovative colourants and pigments, such as nanoparticles, bio-based pigments, and digital printing techniques. The presence of alternative products that exhibit similar performance qualities may present a competitive risk to conventional paint pigments.
- Technological Developments: New pigments with improved qualities may be created as a result of the quick development of pigment production technologies such surface modification, nanoparticle synthesis, and microencapsulation. For manufacturers to remain competitive in the market, research and development expenditures are necessary.
- Transition to Water-Based Paints: As consumers’ preferences for low-VOC and ecologically friendly paint formulas grow, there has been a trend towards water-based paints, which usually call for a different kind of pigment than solvent-based paints. Manufacturers of paint pigment might have to modify their product lines to satisfy shifting consumer needs.
- Global Economic Uncertainty: Trade disputes, geopolitical unrest, and economic downturns can all have an effect on consumer spending on home renovation projects, automobile production, and building activities, which can all affect the demand for paint pigments overall.
- Paint pigments must adhere to strict quality and performance requirements, which include chemical stability, weather resistance, durability, and colour uniformity. It might be difficult for producers to meet these standards, especially when it comes to specialty pigments used in industrial and high-performance coating applications.
- Market Fragmentation and Competition: There is fierce competition among many producers and suppliers for market share in the highly fragmented paint pigments market. Price pressure, narrowed profit margins, and industry consolidation can result from fierce rivalry.
- Customer Preferences and Trends: The demand for particular pigments, colours, and effects can be influenced by shifting customer preferences, design trends, and industry standards. Manufacturers of paint pigment must keep up with industry developments and adjust their product lines accordingly.
- Global Supply Chain interruptions: The availability and price of paint pigments can be impacted by supply chain interruptions such as traffic jams, shortages of raw materials, and logistical difficulties. Manufacturers must maintain business continuity and reduce supply chain risks.
Global Paint Pigments Market Segmentation Analysis
The Global Paint Pigments Market is Segmented on the basis of Type, Application, End-Use Industry, and Geography.
Paint Pigments Market, By Type
- Inorganic Pigments: Pigments derived from minerals and metallic compounds, known for their high opacity, lightfastness, and chemical stability. Examples include titanium dioxide, iron oxide, chromium oxide, and ultramarine blue.
- Organic Pigments: Pigments synthesized from organic compounds, offering a wide range of vibrant colors and excellent color strength. Examples include phthalocyanine blue, azo pigments, quinacridone pigments, and perylene pigments.
- Specialty Pigments: High-performance pigments designed for specific applications, offering unique properties such as heat resistance, weatherability, and fluorescence. Examples include metallic pigments, pearlescent pigments, fluorescent pigments, and luminescent pigments.
- Nano Pigments: Pigments with particle sizes in the nanometer range, offering enhanced color intensity, transparency, and dispersibility. Nano pigments are often used in high-performance coatings and specialty applications.
Paint Pigments Market, By Application
- Architectural Coatings: Pigments used in paints and coatings for residential, commercial, and institutional buildings, including interior and exterior walls, ceilings, and facades.
- Automotive Coatings: Pigments used in automotive paints and coatings for cars, trucks, motorcycles, and other vehicles, providing color, gloss, and protection against environmental factors.
- Industrial Coatings: Pigments used in industrial paints and coatings for machinery, equipment, infrastructure, and industrial facilities, offering corrosion resistance, durability, and chemical resistance.
- Wood Coatings: Pigments used in wood stains, varnishes, and coatings for furniture, cabinetry, flooring, and outdoor wood structures.
- Packaging Coatings: Pigments used in coatings for packaging materials such as metal cans, plastic containers, glass bottles, and flexible packaging, providing branding, protection, and product differentiation.
- Decorative Paints: Pigments used in decorative paints for interior and exterior applications, including textured paints, metallic paints, and specialty finishes.
- Printing Inks: Pigments used in printing inks for various printing processes such as offset printing, flexographic printing, gravure printing, and digital printing.
Paint Pigments Market, By End-Use Industry
- Construction and Building Materials: Paint pigments used in architectural coatings, construction materials, and building finishes for residential, commercial, and infrastructure projects.
- Automotive and Transportation: Paint pigments used in automotive coatings, aerospace coatings, marine coatings, and other transportation applications for vehicles and equipment.
- Industrial Manufacturing: Paint pigments used in industrial coatings, metal coatings, machinery coatings, and specialty coatings for manufacturing facilities and industrial equipment.
- Consumer Goods: Paint pigments used in consumer products such as furniture, appliances, electronics, toys, sporting goods, and household goods.
- Packaging and Labeling: Paint pigments used in packaging coatings, printing inks, labels, and packaging materials for food, beverages, pharmaceuticals, and consumer products.
- Printing and Publishing: Paint pigments used in printing inks for newspapers, magazines, books, packaging, labels, and commercial printing applications.
Paint Pigments Market, By Geography
- North America: Market for paint pigments in North America, including the United States, Canada, and Mexico, driven by demand from construction, automotive, and industrial sectors.
- Europe: Market for paint pigments in Europe, including countries like Germany, the UK, France, Italy, and Spain, with strong demand from automotive, construction, and manufacturing industries.
- Asia-Pacific: Fast-growing market for paint pigments in Asia-Pacific, including China, India, Japan, South Korea, and ASEAN countries, driven by rapid urbanization, infrastructure development, and industrialization.
- Latin America: Emerging market for paint pigments in Latin American countries such as Brazil, Mexico, Argentina, and Colombia, with increasing demand from construction, automotive, and consumer goods sectors.
- Middle East and Africa: Growing market for paint pigments in the Middle East and Africa, with demand from construction projects, infrastructure development, and industrial manufacturing.
Key Players
The major players in the Paint Pigments Market are:
- Ei Dupont De Nemours
- DIC Corporation
- BASF
- Dow
- Huntsman
- Nippon Kayaku
- Cabot
- Clariant
- Sensient Technologies
- Synthesia
Report Scope
| Report Attributes | Details |
|---|---|
| Study Period | 2020-2030 |
| Base Year | 2023 |
| Forecast Period | 2024-2030 |
| Historical Period | 2020-2022 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Ei Dupont De Nemours, DIC Corporation, BASF, Dow, Huntsman, Cabot, Clariant, Sensient Technologies, Synthesia. |
| Segments Covered | By Type, By Application, By End-Use Industry, and By Geography. |
| Customization scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF THE GLOBAL PAINT PIGMENTS MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL PAINT PIGMENTS MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porter’s Five Force Model
4.4 Value Chain Analysis
5 GLOBAL PAINT PIGMENTS MARKET, BY TYPES
5.1 Inorganic Pigments
5.2 Organic Pigments
5.3 Specialty Pigments
5.4 Nano Pigments
6 GLOBAL PAINT PIGMENTS MARKET, BY APPLICATIONS
6.1 Architectural Coatings
6.2 Automotive Coatings
6.3 Industrial Coatings
6.4 Wood Coatings
6.5 Packaging Coatings
6.6 Decorative Paints
6.8 Printing Inks
7 GLOBAL PAINT PIGMENTS MARKET, BY END-USE INDUSTRY
7.1 Construction and Building Materials
7.2 Automotive and Transportation
7.3 Industrial Manufacturing
7.4 Consumer Goods
7.5 Packaging and Labeling
7.6 Printing and Publishing
8 GLOBAL PAINT PIGMENTS MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 The U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 The U.K.
8.3.3 France
8.3.4 Italy
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Latin America
8.5.1 Brazil
8.5.2 Argentina
8.5.3 Rest of LATAM
8.6 Middle East and Africa
8.6.1 UAE
8.6.2 Saudi Arabia
8.6.3 South Africa
8.6.4 Rest of the Middle East and Africa
9 GLOBAL PAINT PIGMENTS MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies
9.4 Company Regional Footprint
9.5 Company Industry Footprint
9.6 ACE Matrix
10 COMPANY PROFILES
10.1 BASF
10.1.1 Company Overview
10.1.2 Company Insights
10.1.3 Business Breakdown
10.1.4 Product Benchmarking
10.1.5 Key Developments
10.1.6 Winning Imperatives
10.1.8 Current Focus & Strategies
10.1.8 Threat from Competition
10.1.10 SWOT Analysis
10.2 Dow
10.2.1 Company Overview
10.2.2 Company Insights
10.2.3 Business Breakdown
10.2.4 Product Benchmarking
10.2.5 Key Developments
10.2.6 Winning Imperatives
10.2.8 Current Focus & Strategies
10.2.8 Threat from Competition
10.2.10 SWOT Analysis
10.3 Huntsman
10.3.1 Company Overview
10.3.2 Company Insights
10.3.3 Business Breakdown
10.3.4 Product Benchmarking
10.3.5 Key Developments
10.3.6 Winning Imperatives
10.3.8 Current Focus & Strategies
10.3.8 Threat from Competition
10.3.10 SWOT Analysis
10.4 Nippon Kayaku
10.4.1 Company Overview
10.4.2 Company Insights
10.4.3 Business Breakdown
10.4.4 Product Benchmarking
10.4.5 Key Developments
10.4.6 Winning Imperatives
10.4.8 Current Focus & Strategies
10.4.8 Threat from Competition
10.4.10 SWOT Analysis
10.5 Cabot
10.5.1 Company Overview
10.5.2 Company Insights
10.5.3 Business Breakdown
10.5.4 Product Benchmarking
10.5.5 Key Developments
10.5.6 Winning Imperatives
10.5.8 Current Focus & Strategies
10.5.8 Threat from Competition
10.5.10 SWOT Analysis
10.6 Clariant
10.6.1 Company Overview
10.6.2 Company Insights
10.6.3 Business Breakdown
10.6.4 Product Benchmarking
10.6.5 Key Developments
10.6.6 Winning Imperatives
10.6.8 Current Focus & Strategies
10.6.8 Threat from Competition
10.6.10 SWOT Analysis
10.8 Sensient Technologies
10.8.1 Company Overview
10.8.2 Company Insights
10.8.3 Business Breakdown
10.8.4 Product Benchmarking
10.8.5 Key Developments
10.8.6 Winning Imperatives
10.8.8 Current Focus & Strategies
10.8.8 Threat from Competition
10.8.10 SWOT Analysis
10.8 Synthesia
10.8.1 Company Overview
10.8.2 Company Insights
10.8.3 Business Breakdown
10.8.4 Product Benchmarking
10.8.5 Key Developments
10.8.6 Winning Imperatives
10.8.8 Current Focus & Strategies
10.8.8 Threat from Competition
10.8.10 SWOT Analysis
10.10 Shanghai Road Dyestuffs and Chemicals
10.10.1 Company Overview
10.10.2 Company Insights
10.10.3 Business Breakdown
10.10.4 Product Benchmarking
10.10.5 Key Developments
10.10.6 Winning Imperatives
10.10.8 Current Focus & Strategies
10.10.8 Threat from Competition
10.10.10 SWOT Analysis
10.10 Evonik
10.10.1 Company Overview
10.10.2 Company Insights
10.10.3 Business Breakdown
10.10.4 Product Benchmarking
10.10.5 Key Developments
10.10.6 Winning Imperatives
10.10.8 Current Focus & Strategies
10.10.8 Threat from Competition
10.10.10 SWOT Analysis
11 Appendix
11.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
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| Demand side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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