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Global Pigment Market to reach USD 37.2 billion by the end of 2029

Global Pigment Market Size study & Forecast, by Product Type (Inorganic, Organic, and Specialty Pigments, and Other Product Types), Application (Paints and Coatings, Textiles, Printing Inks, Plastics, Leather, and Other Applications) and Regional Analysis, 2022-2029

Product Code: CMCC-31375791
Publish Date: 25-01-2023
Page: 200

Global Pigment Market is valued at approximately USD 23.3 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2022-2029. Pigment refers to a substance which provides colour, this colour can be either obtained from the plants or can be made using a chemical substance. The Pigment market is expanding because of factors such as growing demand for the paints and coatings industry, consistent industrial developments, and consistent demand from the textile industry. This market is majorly dominated by DIC Corporation, The Chemours Company, Venator Materials PLC, KRONOS Worldwide Inc., and Clariant

Pigments are widely used in the paints and coating industry. It is also in demand due to industrial development and the textile industry’s requirement for pigment. Recently automobile demand has increased, requiring pigment for the painting and coating of the external parts of automobiles. For instance, According to OICA data, global vehicle production has fallen by about 16% to reach 77.6 million units in 2020. Vehicle sales in 2020 decreased by about 13.8% in comparison to 2019, reaching 77.97 million units. As per the data, rise in the automobile sector has been driving the growth. The textile industry uses the pigment to dye leather, cloths, and so on. According to India’s textile and apparel exports (including handicrafts) reports, the textile industry is expected to reach USD 44.4 billion in FY2022, up 41% year-on-year. Exports of ready-made garments, including cotton accessories, totalled US$6.19 billion in FY2022. This indicates that the textiles industry is growing at a high pace and it will be requiring pigments to dye fabrics using chemical substances and natural colours. Furthermore, the shifting focus toward eco-friendly products, and rising demand for reliable commercial products, such as 3d printing material is expected to create the opportunity in the forthcoming years. However, the stringent government regulation stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Pigment Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the dominance of branded products and the region’s increasing automobile industry. Asia Pacific region is also expected to grow with the highest CAGR during the forecast period, owing to factors such as increased usage of pigment in fabric, an increase in the number of collaborations/expansion of key players, infrastructural development and government interference in expected to support the market space. The China plans to invest US$1.43 trillion in major construction projects over the next five years to 2025. According to the National Development and Reform Commission (NDRC), the Shanghai plan envisions an investment of US$38.7 billion over the next three years. Guangzhou, by contrast, has invested US$8.09 billion to sign 16 new infrastructure projects.

Major market player included in this report are:
Tronox Holdings plc
Pidilite Industries Ltd
The Chemours Company
KRONOS Worldwide Inc.
Sudarshan Chemical Industries Limited
Venator Materials PLC
DIC Corporation
Recent Developments in the Market:
 In August 2019, BASF SE, and fine chemical company DIC Corporation agreed to acquire BASF’s global pigments business. The amount on a cash purchase and debt free basis is about €1.15 billion.

Global Pigment Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
Specialty Pigments and Other Product Types

By Application:
Paints and Coatings
Printing Inks
Other Applications

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Pigment Market, by Region, 2019-2029 (USD Billion)
1.2.2. Pigment Market, by Product Type, 2019-2029 (USD Billion)
1.2.3. Pigment Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Pigment Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Pigment Market Dynamics
3.1. Pigment Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Growing Demand from The Paints and Coatings Industry Consistent Industrial Developments Consistent Demand from The Textile Industry
3.1.2. Market Challenges Stringent Government Regulation
3.1.3. Market Opportunities Shifting Focus Toward Eco-Friendly Products Rising Demand for Reliable Commercial Products, such as 3d Printing Material
Chapter 4. Global Pigment Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Pigment Market, by Product Type
6.1. Market Snapshot
6.2. Global Pigment Market by Product Type, Performance – Potential Analysis
6.3. Global Pigment Market Estimates & Forecasts by Product Type 2019-2029 (USD Billion)
6.4. Pigment Market, Sub Segment Analysis
6.4.1. Organic
6.4.2. Inorganic
6.4.3. Specialty Pigments and Other Product Types
Chapter 7. Global Pigment Market, by Application
7.1. Market Snapshot
7.2. Global Pigment Market by Application, Performance – Potential Analysis
7.3. Global Pigment Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
7.4. Pigment Market, Sub Segment Analysis
7.4.1. Paints and Coatings
7.4.2. Textiles
7.4.3. Printing Inks
7.4.4. Plastics
7.4.5. Leather
7.4.6. Other Applications
Chapter 8. Global Pigment Market, Regional Analysis
8.1. Pigment Market, Regional Market Snapshot
8.2. North America Pigment Market
8.2.1. U.S. Pigment Market Product Type breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Pigment Market
8.3. Europe Pigment Market Snapshot
8.3.1. U.K. Pigment Market
8.3.2. Germany Pigment Market
8.3.3. France Pigment Market
8.3.4. Spain Pigment Market
8.3.5. Italy Pigment Market
8.3.6. Rest of Europe Pigment Market
8.4. Asia-Pacific Pigment Market Snapshot
8.4.1. China Pigment Market
8.4.2. India Pigment Market
8.4.3. Japan Pigment Market
8.4.4. Australia Pigment Market
8.4.5. South Korea Pigment Market
8.4.6. Rest of Asia Pacific Pigment Market
8.5. Latin America Pigment Market Snapshot
8.5.1. Brazil Pigment Market
8.5.2. Mexico Pigment Market
8.5.3. Rest of Latin America Pigment Market
8.6. Rest of The World Pigment Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Tronox Holding Plc Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Pidilite Industries Ltd
9.2.3. ALTANA AG
9.2.4. The Chemours Company
9.2.5. KRONOS Worldwide Inc.
9.2.6. Sudarshan Chemical Industries Limited
9.2.7. Venator Materials PLC
9.2.8. LANXESS
9.2.9. DIC Corporation
9.2.10. Clariant
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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