Market Overview:
Market Research Future (MRFR) states that the global
market for pigment dispersion is slated to exhibit a high revenue based CAGR
during the forecast period (2017-2023). Pigment dispersion method is used to
impart color to various substrates in the building and construction,
automotive, and packaging industries.
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Drivers and Restraints
The impressive market performance is the result of a combination
of factors such as presence of various manufacturers and well-established
industries across the globe. A number of market players strive to strengthen
their presence in the global market by tapping into the existing growth
potential. For instance, in 2018, Clariant entered into a partnership with
Lintech International to distribute its pigments for the plastics, coating and
printing ink industries across the United States (US).
Furthermore, expansion of the paints and coatings
industry is deemed to present remarkable growth opportunities for pigment
manufacturers. The market also expands on the back of increased use of colored
packaging materials for food packaging and consumer preference for thermal
barrier coatings in residential construction.
On the downside, several government bodies implement
stringent regulations that restrict the use of toxic organic chemicals for
production of pigment dispersion, which partially impedes the market growth.
However, the overall market will remain unaffected on account of onslaught of
organic pigments that are alternatives to some of the toxic inorganic ones.
With manufacturers investing in research and development activities to replace
metals in the formulation to produce environmental-friendly pigments, the market
is on its way to grow exponentially over the coming years.
Global Top 10 Key Players
ü
BASF SE
ü
PPG Industries, Inc.
ü
The Sherwin-Williams Company
ü
Akzo Nobel N.V.
ü
Clariant
ü
RPM International Inc.
ü
Tikkurila Oyj
ü
KANSAI PAINT CO.,LTD
ü
Kelly-Moore Paints
ü
Dunn-Edwards Corporation
Regional Analysis:
The Pigment
Dispersion Market is categorized into five regions based
on geography, namely–North America, Europe, Asia Pacific, Latin America and the
Middle East & Africa. Among them, the North America is one of the largest
market share holder as of 2016 and is predicted to grow with the healthy CAGR
over the assessment period. The Middle Eastern & African market is
categorized into Iraq, the United Arab Emirates, Saudi Arabia, Iran, and
Kuwait. Aforementioned nations are predicted to drive the demand for pigment
dispersion in the upcoming years due to presence of mature oil reserves and oil
refineries and it is anticipated that pigment dispersion based protective
coatings for industrial machinery utilization is higher. Moreover, rising
demand for pigment dispersion based architectural coatings consumption in the
Middle East & African countries is predicted to fuel the growth of the
market. In North America, the pigment dispersion market is predicted to grow
with the highest CAGR during the assessment period, 2017 to 2023. Furniture coatings
and protective coatings for aerospace industry is the main area for pigment
dispersion consumption in the region, as majority of furniture and aerospace
vehicles are produced in the North American region.
European
pigment dispersion market is classified into Russia, Germany, U.K, Spain,
Italy, and France are expected to be the dominant region on account of
increasing automobile manufacturing coupled with increasing innovation.
Moreover, the robust presence of automobile manufacturers along with the increasing
consumption of lubricants is predicted to fuel the demand for pigment
dispersion over the assessment period. In Latin America, countries such as
Brazil and Mexico is expected to witness decline in market growth on account of
financial and political turmoil. Asia Pacific is predicted to be a healthy
growing market due to emerging crude oil processing as well as rapid
industrialization in India and China. Moreover, rising number of passenger cars
and heavy duty vehicles along with increased use of pigment dispersion based
coatings is expected to drive the demand for pigment dispersion in this region.
Segmentation
The global
pigment dispersion market is categorized on the basis of type, application, and
region. On the basis of type, the market is bifurcated into water, solvent, and
others. On the basis of end use industry, the pigment dispersion market is
categorized into construction, automobile, aerospace, furniture, printing and
others. On the basis of region, the market is categorized into Asia Pacific,
Europe, Latin America, North America, and the Middle East & Africa.
Intended Audience
- Pigment Dispersion Manufacturers
- Traders and Distributors of Pigment Dispersion
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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