LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global specialty pigments market is expected to grow at a CAGR of more than 3% during the forecast period.
This research report titled ‘Global Specialty Pigments Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Pigments are natural or synthetic colorants that are usually available in powder form. They provide color by absorbing and reflecting different wavelengths of light. When compared to dyes, pigments are observed to offer better color retention, and last longer due to their physical and chemical stability. The color versatility and adaptability of pigments make them suitable for use in applications like paints and coatings, packaging, and cosmetics.
Over the last three decades, specialty pigments have been widely used in textiles, leather, paper, food products, cosmetics, plastics, paints, and ink industries. By type, organic pigments accounted for the largest proportion of the market with around 22% share in 2015. In the same year, APAC was the largest market for specialty coatings, accounting for over 40% of the market share. The region will sustain its market position and grow considerably over the forecast period.
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Based on end-user segmentation, the report categorizes the global specialty pigments market into the following segments:
- Paints and coatings
- Printing inks
The top four revenue generating end-user segments in the global specialty pigments market are discussed below:
Paints and coatings
“The rise in infrastructure development globally has increased the need for construction materials, including paints and coatings. Pigments are an indispensable part this industry and account for one-third of the total paint cost. Specialty pigments that impart properties of light interference, and complex inorganic pigments are essential in the construction of sustainable buildings. These pigments are also used in automobiles, construction, industry, and marine applications,” says Swapnil Tejveer Sharma, one of the lead analysts at Technavio for pigments research.
Apart from imparting color, pigments also act as adhesive agents that help bind the paint and the substrate together in paint formulations. Pigments are broadly classified into industrial application pigments and architectural decorative application pigments. These pigments help improve the coverage of coatings and impart the desired color and help in enhancing the anti-corrosive properties of paints. The global specialty pigments market in the paints and coatings segment was valued at USD 1,481.6 million in 2015.
Inks are used in pens, printing, and tattooing. Consistent flow properties, adhesion to substrates, resistance to bleeding, and compatibility with the solvent are important properties that consumers consider while purchasing good, printable, and high quality inks. Printing inks can be classified into liquid inks and paste inks. Black pigmented inks are the most widely color in the printing industry. Inkjet technology creates a large demand for high-quality specialty pigments. Packaging liquids in inkjet technologies like micro-circuitry fabrication and 3D printing have been benefitting from specialty pigments.
3D printing is a niche segment of the printing inks segment and is growing exponentially at a CAGR of 27%-29%. This growth is expected to be a major boost to the specialty pigments market. Currently, the main consumers of this technology are researchers and DIY consumers, soon there is expected to be a large-scale acceptance of this technology which will drive the market growth.
Plastics segment is dominated by packaging, electronics, and automotive segments. Pigments are introduced into plastics by dry cooling or using pre-dispersed concentrates. They are found to be extremely effective in producing aesthetically appealing products that appeal to customers. They are also used to produce plastics that meet functional standards that the market demands. The type of pigment used decides the opacity, and reinforces the polymers to enhance life and quality of the product.
“The toiletries sector emphasizes on non-fading pigments used for processing personal care products. Products such as soaps and bath oils are the chief consumers of specialty pigments in toiletries segment. Nail paints is proving to be a promising new segment for specially pigments. Synthetic mica pigments are usually used for toiletries applications as they are alkali tolerant,” says Swapnil.
Although specialty pigments add properties to the product that customers find attractive, they are not suitable for products that have liquid bases. They tend to dissociate from the suspension and sink due to their larger particle size. APAC is expected to contribute the largest to the toiletries market during the forecast period, which will drive the specialty pigments market in the toiletries segment.
The top vendors highlighted by Technavio’s research analysts in this report are:
Browse Related Reports:
- Global Construction Paints and Coatings Market 2016-2020
- Global Dyes and Pigments Market 2016-2020
- Global Ceramic Coating Market 2016-2020
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