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Pigments Market Size (2024 - 2029)

The Pigments Market is projected to experience growth over the forecast period, driven by increased demand from the paints and coatings industry, particularly in developing nations, and the rising use of complex inorganic color pigments across various applications. Despite challenges such as stringent government regulations and anti-dumping duties, the market is poised for recovery and expansion, supported by a shift towards eco-friendly products and the growing demand for 3D printing materials. The Asia-Pacific region leads in market consumption, with significant contributions from countries like China, India, and Japan.

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Market Size of Pigments Industry

Pigments Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 30.23 Billion
Market Size (2029) USD 34.86 Billion
CAGR (2024 - 2029) > 2.80 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Pigments Market Major Players

*Disclaimer: Major Players sorted in no particular order

Pigments Market Analysis

The Pigments Market size is estimated at USD 30.23 billion in 2024, and is expected to reach USD 34.86 billion by 2029, growing at a CAGR of greater than 2.80% during the forecast period (2024-2029).

  • COVID-19 had a negative impact on the market in 2020. The disruption in the worldwide supply chain, combined with lower demand from numerous end-user industries such as paints and coatings, plastics, textiles, and others, hampered pigment demand. 
  • However, the market recovered as consumers spent more time at home and focused on home remodeling projects, and the residential construction sector recovered. Protective and sanitizing coatings are in high demand due to growing concerns about cleanliness and hygiene.
  • In the medium term, the significant factors driving the market studied are rising demand from the paints and coatings industry from developing nations and rising applications of complex inorganic color pigments in various applications.
  • On the flip side, factors such as stringent government regulations and anti-dumping duties on pigments are hampering the market growth. Moreover, factors such as shifting focus towards eco-friendly products and rising demand for 3D printing materials are acting as an opportunity for the studied market.
  • Asia-Pacific dominated the market worldwide, with the most significant consumption from countries such as China, India, and Japan.

Pigments Industry Segmentation

Pigments are molecules or substances that absorb specific wavelengths of visible light to produce a particular hue. Pigments can be found in paintings, inks, cosmetics, and other items. Pigments are found in various products and services associated with coloring materials and related technology. Pigments are used in various sectors, including coatings, plastics, printing inks, building, paper, leather, and cosmetics.

The pigments market is segmented by product type, application, and geography. The market is segmented by product type into inorganic, organic, specialty pigments, and other product types. By application, the market is segmented into paints and coatings, textiles, printing inks, plastics, leather, and other applications. The report also covers the market size and forecasts for the pigments market in 16 countries across major regions. 

For each segment, the market sizing and forecasts have been done based on value (USD).

Product Type
Inorganic
Titanium Dioxide
Zinc Oxide
Other Product Types (Carbon Pigments, Dry Earth, Ultramarine Pigments, Cadmium, Lead Chromate, and Others)
Organic
Specialty Pigments and Other Product Types (Functional Pigments, Magnetic Pigments, and Others)
Application
Paints and Coatings
Textiles
Printing Inks
Plastics
Leather
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Pigments Market Size Summary

The pigments market is poised for steady growth over the forecast period, driven by increasing demand from the paints and coatings industry, particularly in developing regions. The market experienced a setback due to the COVID-19 pandemic, which disrupted global supply chains and reduced demand from key sectors such as plastics and textiles. However, recovery was spurred by a surge in home remodeling activities and the resurgence of the residential construction sector. The growing emphasis on cleanliness and hygiene has further fueled the demand for protective and sanitizing coatings. Despite challenges such as stringent regulations and anti-dumping duties, the market is benefiting from opportunities in eco-friendly products and the rising demand for 3D printing materials. The Asia-Pacific region, led by countries like China, India, and Japan, dominates the market due to significant consumption and industrial activity in these nations.

Pigments play a crucial role in providing color, opacity, and other essential properties to paints and coatings, making them a vital component in reducing coating costs. The market is supported by major players in the paints and coatings industry, with significant expansions and investments underway to boost production capacities. For instance, The Sherwin-Williams Company and BASF Coatings have undertaken substantial expansions to enhance their manufacturing capabilities. In India, the production of dyes and pigments has seen notable growth, driven by increasing demand in the print industry. The market is partially consolidated, with key companies like The Chemours Company, Venator Materials PLC, and Tronox Holdings Plc playing significant roles. Strategic partnerships and acquisitions, such as Kronos Worldwide Inc.'s collaboration with Additiva and Cathay Industries' acquisition of Venator鈥毭劽磗 Iron Oxide Pigment Operations, are expected to further influence market dynamics.

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Pigments Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand From the Paints and Coatings Industry in Developing Nations

      2. 1.1.2 Rising Applications of Complex Inorganic Color Pigment (CICP) in Various Applications

      3. 1.1.3 Consistent Demand from the Textile Industry

    2. 1.2 Restraints

      1. 1.2.1 Stringent Government Regulations

      2. 1.2.2 Anti-Dumping Duty on Pigments

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Product Type

      1. 2.1.1 Inorganic

        1. 2.1.1.1 Titanium Dioxide

        2. 2.1.1.2 Zinc Oxide

        3. 2.1.1.3 Other Product Types (Carbon Pigments, Dry Earth, Ultramarine Pigments, Cadmium, Lead Chromate, and Others)

      2. 2.1.2 Organic

      3. 2.1.3 Specialty Pigments and Other Product Types (Functional Pigments, Magnetic Pigments, and Others)

    2. 2.2 Application

      1. 2.2.1 Paints and Coatings

      2. 2.2.2 Textiles

      3. 2.2.3 Printing Inks

      4. 2.2.4 Plastics

      5. 2.2.5 Leather

      6. 2.2.6 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Spain

        6. 2.3.3.6 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Pigments Market Size FAQs

The Pigments Market size is expected to reach USD 30.23 billion in 2024 and grow at a CAGR of greater than 2.80% to reach USD 34.86 billion by 2029.

In 2024, the Pigments Market size is expected to reach USD 30.23 billion.

Pigments Market Report Snapshots

Pigments Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)