The report “High-Performance Pigments Market (HPPs Market) by Type (Organic, Inorganic, and Hybrid), Application (Coatings, Plastics, Inks, Cosmetics), End-use Industry (Automotive & Transportation, Construction & Infrastructure, Printing, Industrial), and Region – Global Forecast to 2024″, The HPPs market size is expected to grow from USD 5.2 billion in 2019 to USD 6.4 billion by 2024, at a CAGR of 4.3% during the forecast period. The HPPs market industry is growing due to the increase in the number of cars, trains, airplanes, ships, and increasing construction & infrastructure activities globally.
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Organic HPPs market comprises a significant share of the HPPs market, in terms of value.
The organic HPPs comprise major share in the HPPs market. They contain carbon chains and carbon rings. The inorganic HPP are precipitated metallic salts and do not contain chains and contain elements such as lead, cadmium, manganese among others. The hybrid HPP is made mixing both the organic and inorganic HPP. The organic HPP also offers better brightness and is high in chroma and thus offers a more glossy effect to the applications it is used in. Therefore, the demand for these HPP is larger.
The coatings application accounted for the largest market share in the global HPPs market during the forecast period.
Coatings application is very crucial in the HPPs market and accounts for the significant share in the HPPs market. HPPs are the key coating element of many end-use industries such as automotive & transportation, construction, and industrial, as these pigments not only offer color but also enhance their sustainability. They are applied as a coating on various exterior and interior parts in these end-use industries. The use of HPPs in coatings application imparts high insolubility, color strength, heat stability, weather, and light fastness properties, which are of crucial importance in various end-use industries.
APAC is expected to account for the largest market share in the HPPs market during the forecast period.
APAC accounted for the largest share in the global HPPs market. The region has the presence of a large number of HPP manufacturers. It also has enormous demand for HPPs due to the presence of vast automotive & transportation and construction & infrastructure industries. Also, the government in the APAC is taking measures to introduce environment-friendly chemicals in the market. Thus, there is a demand for pigment solutions that are environmentally friendly and meet government safety regulations has increased largely in the APAC region, and this further contributes to the growth of the market for HPPs.
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The key players in the market are BASF SE (Germany), Clariant (Switzerland), DIC Corporation (Japan), Ferro Corporation (US), Lanxess (Germany), Heubach GmbH (Germany), Venator Materials PLC (UK), Sudarshan Chemical Industries Limited (India), Atul Ltd. (India), and Synthesia A.S. (Czech Republic). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the HPPs market. These players have taken different organic and inorganic developmental strategies over the past five years.
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