Global Pigment Dispersion Market Highlights Over 2020 - 2030
The global pigment dispersion market garnered a revenue of USD 39952.7 Million in the year 2020 and is further projected to touch a revenue of USD 58530.6 Million by the end of 2030, by growing with a CAGR of 3.93% during the forecast period, i.e., 2021-2030. The growth of the market can primarily be attributed to the growing demand for paints & coatings, backed by the increasing construction activities worldwide. The growing focus of governments on constructing smart cities, and for the increasing trade on construction services globally, are some of the additional factors anticipated to drive the market growth. According to the statistics by the World Trade Organization (WTO), the exports of construction services in the year 2018 around the world recorded to USD 104 Billion. Moreover, owing to the growing urbanization worldwide, and increasing industrialization, the focus on affordable housing has increased significantly, which in turn is also expected to contribute to the market growth in the coming years.
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The global pigment dispersion market is also anticipated to grow on account of the growing application of inorganic pigment dispersion in paints & coatings, printing inks, plastics, packaging, and others. Rising demand for pigment dispersion inks in the end-user industries, owing to the numerous benefits associated with the product, is expected to create massive opportunities for market growth in the coming years.
Global Pigment Dispersion Market Regional Synopsis
Regionally, the global pigment dispersion market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific garnered the highest market share in the year 2020 and is further projected to touch USD 23515.3 Million by the end of 2030. Further the market in the region registered the largest market revenue of USD 15291.6 Million in the year 2020 and is further expected to grow with the highest CAGR of 4.46% during the forecast period. The growth of the market in the region can primarily be attributed to the growing demand for packaging materials in end-user industries. For instance, according to the statistics by the Indian Institute of Packaging (IIP), the consumption of packaging in India has increased by over 200% in the past decade, growing to 8.6kgs per person per annum (pppa) from 4.3 kgs pppa. On the other hand, according to the statistics by the Indian Brand Equity Foundation (IBEF), the packaging industry in India is expected to touch USD 204.81 Billion by 2025, up from USD 50.5 Billion in 2019. The market in the Asia Pacific is segmented on the basis of country into China, India, Japan, South Korea, Singapore, Vietnam, Australia, and the Rest of Asia Pacific. Out of the market in these countries, the market in China is expected to hold the largest market revenue of USD 11101.6 Million by the end of 2030, whereas the market in India is projected to grow with the highest CAGR of 6.85% during the forecast period.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Growth Drivers and Challenges Impacting the Growth of the Global Pigment Dispersion Market
Growth Drivers
- Rapidly Growing Demand for Pigment Dispersion Paints & Coatings in End-User Industries
- Growing Trade on Construction Services Worldwide
Challenges
- Stringent Environmental Regulations
- Volatility in the Price of Raw Materials
Global Pigment Dispersion Market Segmentation Synopsis
The global pigment dispersion market is segmented by dispersion type into solvent-based, and water-based. Out of these segments, the water-based segment is projected to grow with the highest CAGR of 3.94% during the forecast period. On the basis of pigment-type, the market is segmented into organic and inorganic. Out of these segments, the inorganic segment is projected to hold the highest market share during the forecast period, while the organic segment is expected to grow with the highest CAGR of 5.40% during the forecast period. On the basis of application, the market is segmented into plastics, coatings, epoxy, adhesives, sealants, phthalate-free PVC masterbatch, and others. Out of these segments, the coatings segment is projected to garner the largest market revenue of USD 31610 Million by the end of 2030, up from USD 20318.9 Million in 2020. Further, the market is segmented by end-use industry into plastics & packaging, building & construction, paper & printing, textiles, electronics, automotive, and others. Out of these, the building & construction segment is anticipated to attain the largest market revenue of USD 23239.5 Million by the end of 2030.
Top Featured Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global pigment dispersion market that are included in our report are BASF SE, Clariant AG, Cabot Corporation, Penn Color Inc., DIC Corporation, Pidilite Industries Ltd., Heubach GmbH, NAGASE & CO., LTD., The Lubrizol Corporation, Vivify Companies, Ferro Corporation, and others.
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