The Inorganic Pigments Global Market Report 2023 by The Business Research Company, provides inorganic pigments market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Inorganic Pigments Global Market Report 2023, the global inorganic pigments market grew from $22.84 billion in 2022 to $25.12 billion in 2023 at a compound annual growth rate (CAGR) of 9.97%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of inorganic pigments is expected to grow to $36.01 billion in 2027 at a CAGR of 9.42%.
The growth in construction activities drives the inorganic pigments market. Construction has been on the rise due to rapid industrialization and urbanization. Inorganic pigments are essential constituents in paints and coatings used in the buildings and other construction equipment to impart color so that exterior durability is maintained. According to the U.S. Census Bureau report on monthly construction spending in 2022, the construction spending was expected to be $1,744.8 billion in April 2022, a 0.8% rise from the revised March estimate of $1,740.6 billion. Therefore, the increasing spending on construction is driving the growth of the inorganic pigments market.
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The inorganic pigments market is segmented:
1) By Product: Natural Inorganic Pigments, Synthetic Inorganic Pigments
2) By Type: Carbon Black, Chromium Oxide, Iron Oxide, Titanium Dioxide, Other Types
3) By Application: Plastics, Paints And Coatings, Printing Inks, Glass And Ceramics, Cosmetics, Paper Industry, Pharmaceuticals, Food Industry
Product innovation is the key trend in the inorganic pigments market. Companies in the inorganic pigment market are focusing on product innovations to strengthen their position in the market. It involves introducing dispersing agents, ultra-low moisture pigment, lead-free coatings, and others. For instance, in June 2022, Clariant, a Switzerland-based manufacturer of specialty chemicals, launched its first universal polymeric dispersing agent for high-quality pigment preparations that can incorporate organic and inorganic pigments and can be used in all water-based paint systems. Furthermore, waterborne pigment preparations containing Dispersogen Flex 100 may be compatible with solvent-borne base paint systems. The new universal solution provides an innovative, multifunctional, and simple-to-use additive to pigment paste producers and paint producers who also produce pigment pastes.
The inorganic pigments market report table of contents includes:
1. Executive Summary
2. Inorganic Pigments Market Characteristics
3. Inorganic Pigments Market Trends And Strategies
4. Inorganic Pigments Market – Macro Economic Scenario
5. Inorganic Pigments Market Size And Growth
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26. Africa Inorganic Pigments Market
27. Inorganic Pigments Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Inorganic Pigments Market
29. Inorganic Pigments Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- BASF SE
- DIC Corporation
- Tronox Limited
- EI du Pont de Nemours and Company
- Ferro Corporation GmbH
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