According to a new market research report “Inorganic Pigments Market by Pigment Type (Titanium Dioxide, Iron Oxide, Carbon Black), Application (Paints & Coatings, Plastics, Inks), End-Use Industry (Building & Construction, Automotive, Packaging, Textiles), Region – Global Forecast to 2024″, is expected to grow from USD 22.0 billion in 2019 to USD 28.3 billion by 2024, at a CAGR of 5.1%. The major factors driving the inorganic pigments market include growth of the global construction sector and increasing significance of aesthetics in the packaging industry.
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This report also provides a comprehensive analysis of the companies listed below:
- Venator (UK)
- The Chemours Company (US)
- Tronox Limited (US)
- LANXESS (Germany)
- Kronos Worldwide, Inc. (US)
- Cathay Industries (China)
- Clariant (Switzerland)
Research Coverage
The market study covers the inorganic pigments market and its segments. It aims at estimating the market size and the growth potential of this market on the basis of pigment type, application, end-use industry, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Venator (UK) is progressing in the market by adopting new product launch strategy. The company launched TIOXIDE TR29 pigment in September 2019. TIOXIDE TR29 is a white pigment for low moisture applications and demanding processing conditions. It is designed for plastic applications and can be used to create high TiO2 loading master batches. This new inorganic pigment will help the company to cater to the increasing requirement for plastic applications. In February 2018, the company added the first-ever cobalt blue pigment GRANUFIN Azur and several new black pigments in its GRANUFIN range of color pigments. GRANUFIN Azur will help to meet the growing demand for blue colored concrete. New black pigments include a bluish-black carbon grade and a hybrid pigment that will cater to the demand for black concrete products.
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The Chemours Company is one of the largest producers of TiO2 pigments in the world. It has adopted various growth strategies, including merger & acquisition, investment & expansion, and new product launch, to maintain its leading position in the inorganic pigments market. For example, Chemours introduced a new low-abrasion grade of Ti-Pure titanium dioxide pigment. This new grade is manufactured from chloride process and specifically designed to improve the performance of printing inks. This new development will help the company meet the need of customers in the paper & printing industry. In August 2019, the company acquired Southern Ionics Minerals, LLC (Florida), a minerals exploration, mining, and manufacturing company. This acquisition will give the company access to large, high-value ilmenite ore deposits to produce TiO2 pigments.
Titanium dioxide is projected to lead the global inorganic pigments market during the forecast period.
On the basis of pigment type, the inorganic pigments market has been segmented into four types, namely, titanium dioxide, iron oxide, carbon black, and others. Titanium dioxide is projected to lead the global inorganic pigments market during the forecast period. The demand for titanium dioxide is the highest due to its white color. Titanium dioxide is the worlds primary pigment for providing whiteness, brightness, and opacity.
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Paints & coatings application accounted for the largest share in the overall inorganic pigments market in 2019.
The inorganic pigments market has been segmented on the basis of application into four categories, namely, paints & coatings, plastics, inks, and others. Among these applications, the paints & coatings application accounted for the largest market share in 2019. Growing demand for various types of coatings, such as automotive coating, industrial coating, coil coatings, floor coatings, marine coatings, and can coatings, is driving the market for inorganic pigments in the paints & coatings segment.
Inorganic pigments market in building & construction industry projected to register the highest CAGR during the forecast period.
The global building & construction industry is growing rapidly owing to the increasing focus and investments in the construction sector. Inorganic pigments improve the quality of construction materials. In the building & construction industry, inorganic pigments are used in pavers, flooring, tiling, bridges, pipe & panels, and precast walls.
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APAC is the leading inorganic pigments market.
APAC is the largest market for inorganic pigments. Industrialization, growing population, urbanization, and improving standard of living in the emerging economies of APAC are boosting the inorganic pigments market. The major end users of inorganic pigments in the region are building & construction, automotive, and packaging.
