High-Performance Pigments are special pigments used for a variety of applications that require superior performance. These pigments are engineered to provide improved performance in terms of color, durability, lightfastness, and heat and chemical resistance. They are used in a wide range of industries, such as automotive coatings, plastics, printing inks, cosmetics, and industrial coatings. They can also be used in many decorative applications such as wall paints, textiles, and other home decor products.
The High Performance Pigments (HPPs) market size is estimated to be USD 5.2 billion in 2019 to USD 6.4 billion by 2024, at a CAGR of 4.3% during the forecast period. The automotive & transportation industry represents the largest consumption group for HPPs. HPPs are used in cars, trains, airplanes, and ships. Though the automotive industry in several regions is currently posed with challenges, there is wide scope for automotive manufacturers in high-end luxury cars, electric vehicles, battery electric vehicles, plug-in electric vehicles, and others. Also, the improvisation in the rail network, growth in the number of aircraft and ship deliveries would drive the penetration of HPPs in the automotive & transportation industry.
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HPPs are used mainly in coatings applications primarily for end-use industries such as automotive & transportation, construction, and industrial. Among these end-use industries, the automotive & transportation end-use industry OEMs are by far the largest consumers of HPPs. The use of HPPs in coatings application imparts high insolubility, color strength, heat stability, weather, and light fastness properties. These properties are of crucial importance in various end-use industries, and hence they demand HPP coatings, which have made coatings the largest application for HPPs.
The HPPs market is dominated by organic type. The organic HPP 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. A great stress is being laid on the development of environment-friendly organic HPPs. Hence, the demand for these HPP is larger.
The major manufacturers profiled in this report 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), Synthesia A.S. (Czech Republic).
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The top players in the HPPs market have implemented various strategies in the market. For instance, in April 2017, BASF announced its partnership with Landa Labs (Israel). The Landa Labs has helped BASF to produce ultra-high transparency pigments for automotive coatings. resistant to abrasion and non-flammability. Also, in April 2019, Clariant launched the first bio-based version of pigment-Red 254. The pigment will be used mostly for automotive coatings.These strategies have helped the company to enhance their market share in the HPPs business.
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