Market Segmentation
The global plastic pigments
market has been segmented by type, resin, application, and region. Based
on type, the market has been segmented into organic, inorganic, and specialty
pigments. The demand for organic pigments is expected to grow at a highest CAGR
during the forecast period, whereas, the inorganic pigments is expected to
account for the largest market share in terms of value and volume. This can be
attributed to the cost advantage of inorganic pigments over organic pigments
and its resistive properties against heat and chemicals when used with
polymers. Nevertheless, organic pigments are eco-friendlier and offer rich and
brighter tonality to the plastic substrate than inorganic pigment. However,
organic pigments tend to have low resistivity against heat and chemicals.
Based on application, the market
has been segmented into packaging, automotive, building and construction,
consumer goods, healthcare, and others. Packaging accounted for the largest
market share during the forecast period owing to the increasing demand for
plastics as the most preferred packaging material in the end-use industries
such as food and beverages, pharmaceuticals, personal care and others.
Furthermore, the increasing adoption of PVC in the building and construction
industry is expected to drive the demand for plastic pigments during the
forecast period. In addition, the regulations pertaining to the use of color
additives in medical plastics is expected to drive the market for plastic
pigments during the forecast period.
Competitive Analysis
·
BASF SE
·
Heubach GmbH
·
Clariant
·
Sudarshan Chemical Industries Limited
·
DIC CORPORATION
·
Atul Ltd
·
Lanxess
·
Mazda Colours Ltd.
·
Tronox Limited
·
The Chemours Company. Chemours
Regional Analysis
Based on region, the plastic
pigments market has been classified into North America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the
largest share of the plastic pigments market on account of the growing end-use
industries such as packaging, pharmaceuticals, construction and others. Also,
presence of a considerable number of manufacturers is the region is expected to
drive the market demand during the forecast period.
North America is a prominent
market for plastic pigments due to the increasing adoption of plastics in the
construction industry in the region coupled with the prevailing trend of
lightweight automotive in the region is expected to boost the demand for
plastics, which in turn is expected to drive demand for plastic pigments.
The European market is expected
to grow at a considerable rate during the review period. The stringent
regulations pertaining to the use of color additives in the medical plastics
and surge in demand for automotive plastics is expected to boost the demand for
plastic pigments in the region.
The markets in Latin America and
the Middle East & Africa are likely to register substantial growth during
the review period as a result of the growing industrial base in these regions.
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