Color concentrates are the pigments that contain carrier resin. These are the compounds used to assist the coloring of a distinct variety of plastics and for various other applications. Composition and molecular weight of the carrier resin are the major components used to yield color concentrates. The growing demand from various end user industries such as consumer goods, packaging, construction and automotive is supporting the demand for the color concentrates
Market Size and Forecast
The global color concentrate market is anticipated to reach around 6.5 Bn by 2027. The global color concentrate market is expected to expand at a CAGR around 7.0% during 2017-2027. The increasing demand for color concentrates in packaging industries is driving the growth of the color concentrates market across the globe.
The global color concentrate market can be segmented on the basis of form and end-use. On the basis of form global color concentrate market is segmented into solid & liquid. Based end-use global color concentrate market is sub segmented into packaging, consumer goods, building & construction and automotive. By end use segment, packaging industry sub-segment is leading and is anticipated to grow at the substantial CAGR during the forecast period. The use of color concentrates of different shades for packaging makes the product more attractive.
By region, global color concentrate market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. The Asia Pacific region is anticipated to register rapid growth on the account of the increasing application of color concentrate by end user industries. Additionally, rapid industrialization of various end-use industries in countries such as China and India is also contributing in the development of color concentrates market. China is estimated to be the most prominent market for color concentrates on the account of increasing automotive sector in the country.
Our in-depth analysis segmented the global color concentrate market in the following segments:
Global color concentrate market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Increasing demand for color concentrates from various end-use industries such as packaging, consumer goods, automotive and building & construction is anticipated to fuel the market growth of color concentrates during the forecast period. The growing use of aesthetics in packaging and increasing demand for plastics is driving the demand for color concentrate market. Moreover, industrialization in various developing regions across the globe and launch of universal carrier resins are expected to propel the color concentrates market.
However, there are also certain restraints associated with it such as high costs owing to color matching are hindering the market growth of color concentrates. Furthermore, recycling of plastics is a major challenge in the color concentrate market. It causes various environment effects which is compelling the government to make stringent regulations regarding the use of color concentrates.
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