Plastic Pigments Market

Plastic Pigments Market Size (2023-2028):

The Plastic Pigments Market size was calculated to be USD 10.5 billion in 2022 and should reach USD 14.3 billion in 2028, at an annual rate of 8.12% over the period from 2023 to 2028.

Pigments are a group of colored chemical compounds that absorb white light at a selective wavelength and emit various colors through the process of transmission or reflection. Pigments are employed to improve and develop the appearance of various substances. Organic pigments contain carbon and metallic compounds. Inorganic pigments are generally composed of metal salts. In comparison to organic pigments, the size of inorganic pigments particle is bigger.

Plastic Pigments Market Drivers and Restraints:

A strong call for packaging in emerging countries leads to an increase in the consumption of plastic pigments. The escalating call for plastics in the automotive industry, the rising importance of aesthetics in packaging, the industrialization in emerging economies, and the great call for high-performance pigments are stimulating the market for plastic pigments. The significant increase in plastic packaging has fuelled the call on the world market for plastic pigments. The increasing application of plastics in customer goods, building and construction, automotive, and other businesses has also boosted this market. Besides, the augmented call for high-performance pigments should increase the expansion of the plastic pigments business in the future. Technological advances in pigment development should also drive expansion in this market. In addition to expansion factors, escalated resistance to various chemicals, heat stability, and excellent light fastness have escalated the use of organic pigments, which will increase the general call in this market. The worldwide market for plastic pigments must be stimulated by the escalating use of products in the paint and coating industry. Plastic pigments are mainly employed in paints and coatings to improve the visual and colored aesthetics of products, which should stimulate market expansion in the coming years.

Furthermore, manufacturing companies are continually investing in their R&D technologies to improve their production capabilities. Plastic pigments have superior attributes and properties that have been shown to be effective in the automotive industry. Plastic pigments help provide a brilliant shine, reduce opacity and reflection, and improve the orientation, overall appearance, and durability of automotive interior and exterior parts. Therefore, the call for plastic pigments in the automotive sector should further stimulate the world market for plastic pigments in the future. However, strict sustainability rules and regulations could hamper the worldwide market for plastic pigments in the coming years. Nevertheless, changing raw material costs and rising environmental worries should jeopardize the expansion of the worldwide plastic pigment industry. Furthermore, regulations related to plastic recycling could also hinder the expansion of the worldwide market for plastic pigments in the long term.

PLASTIC PIGMENTS MARKET REPORT COVERAGE

Plastic Pigments Market Segmentation

Plastic Pigments Market - By Type:

• Inorganic

• Organic

Organic pigments are predicted to be the fastest-growing segment of the plastic pigment market during the outlook period, while inorganic pigments are the most important type due to their low cost. Inorganic pigments have better resistance to the sun and to chemicals. They offer superior opacity and durability, and they also don't bleach plastics.

Plastic Pigments Market - By End-Use:

• Packaging

• Customer goods

• Automotive

• Building & construction

• others

Packaging is the largest and fastest-growing end-use industry for plastic pigments. It is the quickest developing end-user business for these pigments owing to the employment in different fragments, such as customer goods due to the escalating use of plastics in these businesses.

Plastic Pigments Market - By Region:

The Plastic Pigments Market includes the segmentation of Regions with their respective Countries.

• North America Plastic Pigments Industry includes the U.S and Canada.

• Europe Plastic Pigments Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

• Asia Pacific Plastic Pigments Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

• Latin America Plastic Pigments Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.

• The Middle East & Africa Plastic Pigments Industry includes KSA, UAE, Israel, the rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, and the rest of MEA.

APAC is predicted to experience the strongest expansion in the global plastic pigment market during the outlook period. The expansion of the packaging business and the quick industrialization of the region are significant factors in the region's plastic pigment industry. Plastic products replace heavy metal products in various applications due to their cost-effectiveness and low weight. China is the biggest industry for plastic pigments in the region, on the basis of volume, owing to the high call for plastic pigments in the plastics business. Also, the call for plastic pigment is predicted to increase in India due to economic development and the strong presence of small players in the plastic pigment market.

Europe had a significant share of the worldwide market for plastic pigments in 2018 and should also continue its regional authority in the coming years. This can be attributed to the growing call for plastic pigments by the luxury automotive and sports car paint and coating industry. North America is predicted to offer significant opportunities for the worldwide market for plastic pigments, due to the need for inorganic pigments in buildings and other infrastructure projects. The North American market is also likely to grow due to the expansion of the packaging industry and the growing call for packaged food and beverages. Moreover, the revival of the construction business with an escalating call for building plastics should augment the call for plastic pigments in the area. The Middle East and Africa markets should experience considerable expansion during the foreseen period because of the rapid expansion of the construction and packaging industry in the locale.

Plastic Pigments Market Key Players:

1. BASF SE (Germany)

2. Heubach GmbH (Germany)

3. Clariant (Switzerland)

4. Sudarshan Chemical Industries Limited (India)

5. DIC CORPORATION (Japan)

6. Atul Ltd (India)

7. Lanxess (Germany)

8. Mazda Colours Ltd.(India)

9. Tronox Limited (US)

10. The Chemours Company (US)