Global Inorganic Pigments Market Set for Expansion, Forecasted to Reach $36.01 Billion by 2027

The Business Research Company’s Inorganic Pigments Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LANDON, GREATER LANDON, UK, November 27, 2023 /EINPresswire.com/ — The global inorganic pigments market, categorized by product, type, and application, witnessed substantial growth, surging from $22.84 billion in 2022 to $25.12 billion in 2023, marking a noteworthy compound annual growth rate (CAGR) of 9.97%. Despite geopolitical and economic challenges arising from the Russia-Ukraine conflict and the ongoing impact of the COVID-19 pandemic, the market is poised for further advancement, with a projected value of $36.01 billion by 2027, indicating a CAGR of 9.42%.

Driving Forces: Construction Boom Accelerates Market Expansion

The surge in construction activities, driven by rapid industrialization and urbanization, serves as a primary catalyst propelling the inorganic pigments market. These pigments play a pivotal role in paints and coatings applied to buildings and construction equipment, ensuring both aesthetic appeal and exterior durability. As reported by the U.S. Census Bureau in 2022, monthly construction spending was anticipated to reach $1,744.8 billion in April, reflecting a 0.8% increase from the revised March estimate of $1,740.6 billion. The escalating investments in construction activities are substantiating the market’s growth.

Key Market Players: Leading the Charge

Major players contributing to the dynamism of the inorganic pigments market include BASF SE, DIC Corporation, Tronox Limited, EI du Pont de Nemours and Company, Ferro Corporation GmbH, Heubach GmbH, Huntsman International LLC, LANXESS AG, Rockwood Company, LLC, VIBFAST PIGMENTS PVT. Ltd., VOXCO India, Musclerox, Ultramarine & Pigments Limited, Qualitron Chemicals, Paramount Colors, and Sona Synthetics Products.

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Trend Watch: Product Innovation Takes Center Stage

In the competitive landscape of the inorganic pigments market, a key trend gaining traction is product innovation. Market players are strategically focusing on introducing novel products to fortify their market positions. Notable innovations include the launch of dispersing agents, ultra-low moisture pigment, and lead-free coatings. For instance, in June 2022, Clariant, a Swiss specialty chemicals manufacturer, unveiled its groundbreaking universal polymeric dispersing agent designed for high-quality pigment preparations. This agent, known as Dispersogen Flex 100, showcases versatility by incorporating both organic and inorganic pigments, making it compatible with various water-based paint systems.

Strategic Acquisitions: Consolidating Market Presence

In June 2021, DIC Corporation, a prominent Japanese chemicals company, made a strategic move by acquiring BASF’s global inorganic pigments market business, BASF Colors & Effects (BCE). This acquisition further strengthened DIC Corporation’s position in the market, leveraging the complementary product portfolios, manufacturing capabilities, supply chains, and customer service offerings of both entities. The synergies created through such acquisitions aim to provide customers with adaptable and comprehensive solutions.

The inorganic pigments market is segmented –

1) By Product: Natural Inorganic Pigments, Synthetic Inorganic Pigments
2) By Type: Carbon Black, Chromium Oxide, Iron Oxide, Titanium Dioxide, Other Types
3) By Application: Plastics, Paints And Coatings, Printing Inks, Glass And Ceramics, Cosmetics, Paper Industry, Pharmaceuticals, Food Industry
Regional Outlook: Asia-Pacific Takes the Lead

In 2022, Asia-Pacific emerged as the dominant region in the inorganic pigments market. The region’s expansive growth is anticipated to persist, making it the fastest-growing region in the forecast period. The comprehensive market analysis report encompasses insights into regional dynamics, market trends, and growth opportunities, providing stakeholders with a holistic view.

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Inorganic Pigments Global Market Report 2023 from TBRC covers the following information:

1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Inorganic Pigments Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on inorganic pigments market size, inorganic pigments market drivers and inorganic pigments market trends, inorganic pigments market major players, competitors’ revenues, market positioning, and inorganic pigments market growth across geographies. The inorganic pigments market report helps you gain in-depth insights on inorganic pigments market opportunities and inorganic pigments market strategies. Companies can leverage the data in the report and tap into inorganic pigments market segments with the highest growth potential.

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