The increased demand for paint and coatings in the construction sector is driving the need for the market.
Solvent-Based Pigment Dispersion Market Size – USD 39.60 Billion in 2019, Growth - CAGR of 5.7%, Trends – Rising demand from end-use industries.
The global Solvent-Based Pigment Dispersion Market is forecast to reach USD 59.89 Billion by 2027, according to a new report by Reports and Data. Solvent-Based Pigment Dispersions are unsolvable coloring agents which are used to add color to specific materials and can be graded as organic and inorganic. Different Solvent-Based Pigment Dispersions are available on the market, and their preference depends on the appropriate particular applications in end-use industries. Demand for Solvent-Based Pigment Dispersions is increasing owing to expanded food processing industries for cosmetic packaging content as well as expanded use of plastic, pulp, and paperboard products in food packaging.
The food processing manufacturers also use colors to distinguish their products from rivals. In the expanding fast-food and processed food sectors, these trends are projected to drive demand. Additionally, urban development creates the opportunity for commercial and residential complex constructions that involve thermal insulation coatings. Alternatively, growing demand for car coatings is also projected to fuel growth in the global market.
Solvent-Based Pigment Dispersion Market Growth:
The global Solvent-Based Pigment Dispersion market is expected to grow due to increasing demand for colorants in various end-use industries such as packaging, construction, textiles, and printing. The growing demand for eco-friendly and sustainable Solvent-Based Pigment Dispersions is also expected to drive market growth. The increasing popularity of water-based Solvent-Based Pigment Dispersions, due to their low toxicity and easy processing, is expected to provide new growth opportunities for the market. However, the high cost of raw materials and stringent environmental regulations may act as a restraint to the market's growth.
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Top Companies: Clariant, BASF, DIC Corporation, Sudarshan Chemical, Chromaflo, Cabot Corporation, Heubach GmbH, Penn Color, Pidilite, and Sherwin-Williams, among others.
Further Key Finding from the Report Suggestion:
- Inorganic pigments are used in food packaging applications, especially in the packaging of plastics and paper and paperboards. Inorganic pigments in the plastics market accounted for a 27.6% revenue share in 2019.
- With a projected 5.6% CAGR, the demain in APAC is expected to accelerate, due to the booming construction industry. The demand is growing in emerging nations like China and India. The government has taken steps toward urbanization, and industrialization that has resulted in the country's rapid business growth, which would also have a direct effect on regional development.
- The Asia Pacific is the second-biggest sector thanks to the fast growth of the manufacturing, building and food packaging industries.
- In 2019 the US emerged as the largest product market in North America. The launch of the country's packaging and paperboard sector has resulted the region’s growth.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Solvent-Based Pigment Dispersion market is segmented into:
Pigment Type Outlook (Revenue, USD Billion; 2017-2027)
Dispersion Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Paints Coatings
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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