The global High Performance Pigments Market is expected to reach
USD 6.32 billion by 2022, according to a new report by Grand View Research,
Inc. Growing of automotive coatings demand on account of increasing automobile
production particularly in Asia Pacific is expected to remain a key driving
factor for the global High Performance Pigments Market.
The growth of global personal
care industry is also expected to have a positive influence on the market
growth. Volatile raw material prices coupled with the high price of these
pigments is expected to remain a key challenge for market participants. The
market displays high competition among its industry participants which has
resulted in companies taking strong measures to reduce manufacturing costs and
yet provide superior quality products.
Inorganic high performance
pigments emerged as the leading product segment with demand share exceeding 60%
of the global market in 2014. However, organic high performance pigments are
presumed to witness a faster growth rate on account of changing customer buying
patterns and favorable regulatory scenario.
U.S. High Performance Pigments
Market revenue by product, 2012 - 2022 (USD Million)
Browse full research report on
High Performance Pigments Market
Further key findings from
the report suggest:
- Global High
Performance Pigments Market demand was 154.8 kilo tons in 2014 and is
expected to reach 233.0 kilo tons by 2022, at a CAGR of 5.2%from 2015 to
2022.
- Coatings were
the leading application segment and accounted for 59.9% of total market
volume in 2014. Growth of global automotive coatings industry is expected
to drive this segment over the forecast period. It is also expected to
witness the highest growth of 5.4% over the forecast period. Developments
in the ink jet printing technology are expected to lead high performance
pigment demand in the ink industry.
- Europe
dominated the global market with demand share estimated at 31.8% in 2014.
Developed markets of North America and Europe have had their dominance in
the past. However, the recent economic downturn critically impacted key
end-use industry growth in these regions. Recovery of U.S. automotive industry
from the economic downturn is expected to re-establish high performance
pigment demand in North America.
- Asia Pacific
is expected to witness the highest growth of 6.0% from 2015 to 2022.
Increasing automobile production in China, India, Thailand and Indonesia
is expected to drive the regional market over the forecast period.
- The global
high performance pigment industry was once recognized by a few
multinational corporations. However, the advent of globalization has led
new entrants in the industry. Companies have been taking key strategic
initiatives to enhance their product portfolio and penetrate the market
deeper by targeting applications such as cosmetics, inks, and plastics.
Some leading companies in the global market include Sun Chemical, Clariant,
BASF, Ferro, Heubach, Sudarshan Chemical Industries Ltd, Merck, Eckart
Effect Pigments and Horst Chemicals Zhuhai Co. Ltd.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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