Global Specialty Pigments Market Size By Type (Inorganic, Organic, and Specialty Pigments), By Application (Paints & Coatings, Textiles, Printing Inks), By Geographic Scope And Forecast

Specialty Pigments Market Size And Forecast

Specialty Pigments Market size was valued at USD 22.91 Billion in 2021 and is projected to reach USD 35.13 Billion by 2030, growing at a CAGR of 5.8% from 2022 to 2030. Growing infrastructure investments and the need for long-lasting, weather-resistant pigments are expected to drive the Global Specialty Pigments Market . The increasing demand from the automobile sector and rising population and urbanization are driving the market growth of Specialty Pigments. The need for specialty pigments is also being fueled by the need to protect buildings against dampness, fungi, and corrosion. The Global Specialty Pigments Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Specialty Pigments Market Definition

Specialty pigments refer to high-performance coloring agents mixed with oil, paints, printing inks, and plastics to disperse the desired color. Specialty pigments are completely insoluble in water, and depending on the color, they can absorb the wavelength and absorb light with good efficiency. They are naturally derived from iron, zinc, copper, and aluminum and can also be synthesized artificially. These pigments improve the substrate's aesthetic appeal as well as provide a variety of advantages, including fluorescence, luminescence, and pearlescent effects, as well as UV curing. Organic, metallic, high-performance, Complex Inorganic, Fluorescent, and Luminescent pigment are some of the most often used specialty pigments, and they come in a wide range of vibrant colors with a high luster.

Growing demand for specialty pigments across end-use sectors such as paints and coatings (printing inks), plastics, toiletries, and others would fuel the expansion. Technological advancements are widely adopted in several regions, including North America and Europe, resulting in high R&D expenditure, which further boosts consumer preference for these pigment types, providing an ideal platform for manufacturers to increase their production capacity without compromising quality and performance parameters, resulting in sustained growth during the forecast period.

Global Specialty Pigments Market Overview

Growing infrastructure investments and the need for long-lasting, weather-resistant pigments are expected to drive the Global Specialty Pigments Market. In various regions of the world, there is increasing demand for specialty pigments from various sectors such as infrastructure and industrial. Major construction groups are working in Asia-Pacific, such as the development of many multinational companies (MNCs) in China, India, and other areas. China is also the largest consumer of inorganic pigments. Many companies such as BASF are also creating pigments for agriculture, paints, and coatings, and the cosmetics industry.

The increasing demand from the automobile sector and rising population and urbanization are driving the market growth of Specialty Pigments. For specialized applications such as high-end automobile sectors and original equipment manufacturers, specialty pigments are becoming increasingly popular (OEM). The rising population in Asia-Pacific and other parts of the world is driving demand for residential construction, which in turn is boosting demand for specialty pigments. Paints and coatings for automobiles are used to protect the inside and outside of the automobile from the elements such as sunlight, corrosion, and acid rain.

The manufacture of electric cars will generate a large demand for paints and coatings, and hence for specialty pigments, in the future owing to environmental regulations and restrictions. Specialty pigments are in great demand because they improve the substrate's functionality and visual appeal by binding the substrate and paint together. The need for specialty pigments is also being fueled by the need to protect buildings against dampness, fungi, and corrosion. Specialty pigments' eco-friendliness is expected to appeal to a section of urban consumers who are more concerned about the environment.

However, strict environmental regulations and restrictions in various countries of the world are restraining the market growth of specialty pigments. Additionally, volatility in raw material prices is also restraining the growth of the Specialty Pigments Market. Furthermore, the expansion of the automotive industry in the Asia Pacific region is fueling the growth of the market and this acts as a lucrative growth opportunity for the market.

Global Specialty Pigments Market: Segmentation Analysis

The Global Specialty Pigments Market is segmented on the basis of Type, Application, And Geography.

Specialty Pigments Market, By Type

• Inorganic
• Organic
• Specialty Pigments

Based on Type, The market is segmented into Inorganic, Organic, and Specialty Pigments. Organic pigments are widely used in the printing ink application due to regulations and act, such as FFDCA, Code of Federal Regulations (CFR), and Generally Recognized as Safe (GRAS), in the food packaging application. Inorganic pigments are usually metallic salts precipitated from solutions.

Specialty Pigments Market, By Application

• Paints And Coatings
• Textiles
• Printing Inks
• Others

Based on Application, The market is segmented into Paints & Coatings, Textiles, Printing Inks, and Others. The Printing Ink segment holds the big market share. Colorants are used in the printing inks including solvent-based packaging inks, offset inks, decorative laminate inks, water-based packaging inks, and publication gravure inks.

Specialty Pigments Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world
• On the basis of Geography, The Global Pigments Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific region is expected to witness the highest CAGR during the forecast period. This is primarily due to the rise in disposable income in these countries, and the growth in urbanization. This region is one of the key markets for dyes and pigment production. In the Asia-Pacific, India and China are the important countries contributing to the growth of the Pigments Market.

Key Players

• The "Global Pigments Market" study report will provide a valuable insight with an emphasis on the global market including some of the major players such as
• BASF, Clariant International Ltd, Kronos Worldwide Inc., Cabot Corp., CPS Color AG, DIC Corp., Huntsman Corporation, ECKART GmbH, DCL., and Heubach GmbH.
• The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In April 2022, Ferro an 83-year old public company in Northeast Ohio comes goes private
• In July 2021, DCL acquired Sun Chemical's manufacturing facility in Goose Creek, South Carolina, USA. It would offer specialty pigment families providing the highest performance, especially high chromaticity, high durability, high heat stability, and transparency for the most demanding applications, including the automotive, industrial coatings, and engineered plastics markets.
• In June 2021, DIC plans to complete its acquisition of the global Colors and Effects business of BASF SE within the first half of 2021 to rising its market share in the organic Pigments Market.