Plastic Pigments Market size was over USD 13.01 Billion in 2023 and is anticipated to reach USD 37.12 Billion by 2036, witnessing around 8.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of plastic pigments is estimated at USD 14.02 Billion. The expansion of the plastic industry is the driving force behind the growth. Plastic's versatility has prompted the population to produce more plastic, which is expected to fuel market growth. Plastic pigments are organic or inorganic particles that are added to the polymer base to give the finished product a specific color or functional advantage. For instance, the most widely used inorganic pigment in the plastics industry is titanium dioxide, which is also known as the best white pigment in the world. Furthermore, owing to its superior physical characteristics, it is commonly used in coatings and plastics.
The rising packaging industry across the globe is believed to fuel market growth. Owing to the expansion of the packaging industry, the demand for plastic pigments also increases since producers require more pigments to produce colored plastic packaging. Besides this, plastic pigments are also used in the creation of personalized packaging.
Growth Drivers
In addition, with environmental safety in mind, technologies that spread less pollution are being used. In the United States, the Environmental Protection Agency's National Emissions Standard for Hazardous Air Pollution (NESHAP) established guidelines for the use of VOCs, and as a result, automotive paint manufacturers are shifting their technologies from solvent-borne to waterborne and powder coating technologies. When compared to solvent-borne technologies, these technologies emit fewer VOCs.
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
8.4% |
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Base Year Market Size (2023) |
USD 13.01 Billion |
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Forecast Year Market Size (2036) |
USD 37.12 Billion |
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Regional Scope |
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Type (Organic, Inorganic)
The organic segment in the plastic pigments market is set to garner a notable share shortly driven by a wide range of benefits offered by the organic type of plastic pigments. The azo-type pigments make up more than 60% of all organic pigments, and their cooler spectrum roughly resembles that of cadmium, and they outperform inorganic ones by producing brighter, glossier hues at lower percentages to provide a wide variety of colors and performance for plastics. Paints, rubber products, inks, plastic goods, and coated printing sizes are all colored using organic pigments, owing to their most popular properties such as high tinting strength and excellent shade.
Further, in most end-user industries people generally prefer to use organic type over inorganic type owing to its benefits and also the organic one is environment friendly. The organic compound majorly consists of carbon and metallic compounds.
End-Use Industry (Packaging, Consumer Goods, Building & Construction, Automotive)
The automotive segment in the plastic pigments market is estimated to gain a robust market share in the coming years owing to the increasing demand and production of vehicles. Particles added to the polymer foundation for functional purposes are called plastic pigments, which are often used in vehicle coatings due to the benefits they bring such as improved thermal stability, greater degrees of outdoor durability, color fastness, and chemical resistance.
Moreover, these pigments are more in demand in the automobile industry since they are anti-corrosive and glossy, and can be used for several applications as these pigments enable the creation of high chromatic strengths and unique color journey effects. According to the Organization of Motor Vehicle Manufacturers, the global production of vehicles was 80,145,988 units in 2021. This is a rise from 77,711,725 units in 2020.
Our in-depth analysis of the global market includes the following segments:
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Type |
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End-Use Industry |
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APAC Market Forecast
Plastic pigments market in Asia Pacific is predicted to account for the largest share of 35% by 2036 impelled by increasing construction activities. For instance, a variety of construction projects such as “Smart City” or “Housing for All” are taking place in China, India, and other parts of Asia Pacific. These projects often require plastic pigments to color a wide range of plastic materials used in these projects.
Plastic pigments enhance the visual appeal of buildings and help in achieving vibrant colors in flooring, laminates, and furniture. The Indian construction sector is anticipated to expand gradually and is anticipated to reach over USD 1 trillion by 2025.
European Market Analysis
The Europe plastic pigments market is estimated to be the second largest, during the forecast timeframe led by the rising need for the product from the textile sector. For instance, the demand for synthetic fibers, which are commonly employed in the textile industry, is extremely high in European nations including France and Germany. During the manufacturing process, these synthetic fibers are colored using plastic pigments, which has led to an increase in demand in the region.
Author Credits: Rajrani Baghel
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