The global inorganic color pigments market size is anticipated to reach USD 3.93 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 3.0%, in terms of revenue, over the forecast period. Rising demand for inorganic color pigments in plastics, printing inks, and paints and coating application is anticipated to fuel the market growth.
Key suggestions from the report:
- The Iron Oxide segment accounted for the prominent market share of 60.6% in 2019 and is estimated to maintain its dominance over the forecast period owing to rising demand from paints and coatings application
- Ultramarine blue is the second-largest segment and is expected to expand at a healthy CAGR of 3.7% over the forecast period
- The paints and coatings segment is expected to be the dominating application segment over the forecast period owing to rising in construction and automotive industry.
Read 110 page research report with ToC on “Inorganic Color Pigments Market Size, Share & Trends Analysis Report By Product (Iron Oxide, Carbon & Vegetable Black, Ultramarine Blue, Chrome Green), By Application, And Segment Forecasts, 2020 – 2027” at: https://www.grandviewresearch.com/industry-analysis/inorganic-color-pigments-market
The growth in the building and construction industry across the globe has been contributing significantly to driving the demand for inorganic color pigments. Countries such as China, India, the U.S., and Germany are some major countries showing significant growth potential in the construction sector. Increasing industrialization coupled with rising population has encouraged governments to raise their construction spending for infrastructural development which is expected to boost the construction activities and will create massive demand for inorganic color pigments in the coming years.
Moreover, inorganic color pigments are also widely used in the plastics industry. They are used as a colorant in manufacturing various plastic products including auto parts, fenders, soda bottles, food packaging, toys, vinyl sidings, and others. Rising adoption of plastics as a substitution of glass, metals, wood, natural rubber, and other materials is expected to drive the global plastics market. Various products such as polyvinyl chloride, polyethylene terephthalate, polyolefins, acrylonitrile butadiene styrene, and other plastics are rapidly replacing most materials in the automotive, construction and infrastructure, and packaging, and other application sectors. Increasing regulations and awareness regarding the reduction of carbon emissions are leading to the replacement of metals and heavy materials with lightweight plastics, especially in automobiles and industrial machinery. All these factors are expected to have a positive impact on the demand for inorganic color pigments over the forecast period.
Source: Grand View Research, Inc.
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