Rising demand for aesthetics in packaging and increasing popularity of high-performance pigments are some key factors driving market revenue growth
Plastic Pigments Market Size – USD 11.56 Billion in 2020, Growth – at a CAGR of 7.2%, Trends – Increasing research and development activities
The global Plastic Pigments Market size is expected to reach USD 20.14 Billion in 2028 and register a revenue CAGR of 7.2% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by rising demand for plastics pigments in major end-use industries such as automotive, construction, packaging, and consumer goods, among others. Increasing demand for plastic packaging in the packaging industry is expected to drive revenue growth of the market to a significant extent over the forecast period. Rising focus on aesthetics in the packaging industry is boosting applications of plastic pigments in the packaging materials industry. Increasing need to enhance the visual appeal of packaged products is a key factor driving market growth.
Manufacturers are increasingly investing in research and development activities for production of high performance organic pigments which would be able to comply with strict regulations and safety laws for food packaging coloration, while maintaining the appeal and attractiveness of products among end-consumers. Increased durability and enhanced aesthetics of high-performance pigments are expected to drive demand in different end-use industries. Advancements in plastics and polymer industries is projected to continue to support market growth during the forecast period. Companies such as Heubach and others are offering high-quality organic and inorganic color solutions as well as pigments and a wide range of products for coloring PVC window profiles, PVC pipes, roof profiles, vinyl coverings, as well as films, fibers, sheets, machine cladding, and technical profiles.
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Top Leading Players: BASF SE, Clariant AG, DIC Corporation, Cabot Corporation, Ferro Corporation, Tronox Inc., Heubach GmbH, Sudarshan Chemical Industries, Chemours Company, and DCL Corporation.
Key Companies in the market include:
In August 2021, DCL Corporation announced the acquisition of Performance Pigments Plant of Sun Chemical in South Carolina. The acquisition includes the sales and production of the specialty pigments product portfolios along with other specialty products. Specialty pigments provide highest performance, especially high durability, high heat stability, and transparency for the most demanding applications, including industrial coatings, automotive coatings, and engineered plastics. Addition of high-performance pigment portfolio and a U.S. manufacturing base to the established platform of DCL Corporation is expected to strengthen the position of the company in the global market.
Inorganic plastic pigments segment is expected to account for largest revenue share in the global plastic pigments market over the forecast period owing to its cost effectiveness. Inorganic pigments are manufactured from mineral compounds and are less expensive in comparison to organic pigments, which is driving revenue growth of this segment.
Direct sales channel segment is expected to register robust revenue growth over the forecast period. The profit margin is higher in the direct sales channel due to the non-involvement of distributors in the supply chain model, which is boosting growth ofthe direct sales channel segment.
Packaging segment is expected to account for a considerably robust revenue share in the global plastic pigments market owing to increasing demand for plastic packaging among various end-use industries.
The plastic pigments market in Asia Pacific is expected to account for largest revenue share over the forecast period. Manufacturers such as DIC Corporation and Sudarshan Chemical Industries are increasingly investing in order to offer high-quality organic and inorganic color solutions as well as pigments for automotive, construction, packaging, and consumer goods applications.
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Product Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Organic Plastic Pigments
- Inorganic Plastic Pigments
Sales Channel Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Direct Sales Channel
- Distribution Channel
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Consumer Goods
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Plastic Pigments market report:
- What is the expected market size of the global Plastic Pigments market during the forecast period?
- What factors are expected to hamper global Plastic Pigments market growth over the forecast period?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Plastic Pigments market?
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