The rapid expansion of urban population and industrialization across the world has been propelling the construction and building materials as well as plastics industry, and this is a primary factor driving the global market for inorganic color pigments, finds Transparency Market Research (TMR). The report, titled “Inorganic Color Pigments Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2023,” is a comprehensive study of the current status of the market. It analyzes the factors that are expected to impact the growth rate and projects forecasts pertaining to the global as well as segment-wise scenario for the next seven years.
The report finds that the rigid yet flexible properties of inorganic pigments make them the preferred choice over other alternatives. For example, these pigments are not affected by strong acids, bases, and oxidizing agents. Moreover, as inorganic pigments can withstand various temperatures and bad climatic conditions, they are heat resistant and are easy to disperse. The report also highlights that there are a variety of inorganic pigments available, which are used for various purposes.
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The primary driver in the market for inorganic color pigments is its application in various industries, including coil coatings, powder coating, and industrial coating. These pigments are also used in the automotive industry, where they are used as a colorant in engineering plastics. The report finds that the quality of industrial products has been improving over the past few years as far as their appearance and durability is concerned and concurrently, the demand for the same is escalating. This demand can be swiftly served by inorganic pigments, which are the most stable class of pigments available today.
The report expects the demand in the global market for inorganic color pigments to be driven by developed countries during the forecast period, due to large-scale urbanization and a high disposable income of the population. However, developing countries such as China and India are expected to extend the demand due to thriving plastics as well as paints and coatings industries. Conversely, the main setback in the growth of the inorganic color pigment market at the global level is the excess production of commodity pigments.
The market study observes that regionally, the most prominent manufacturer of inorganic color pigments is currently China, followed by North America. The report also concedes that the demand has been declining in Western countries. In addition, the inorganic dye market is mature in Japan, which is likely to restrict the market for inorganic color pigments as well over the next few years.
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Some of the prominent names in the inorganic color pigments market are Shepard Color Company, Ferro Corporation GmbH, Bayer AG, Atlanta AG, Rockwood, Apollo Colors, Honeywell International, and Todo Kogyo.
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