Global Inorganic Color Pigments Market by Product (Ultramarine Blue, Carbon & Vegetable Black, Chrome Green, Iron Oxide) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global market for inorganic colour pigments was worth USD 3.10 billion. The market is expected to grow at a compound annual rate (CAGR), of 3.0% in terms of revenue between 2020 and 2027. Inorganic color pigments are expected to drive the market. They can be found in paints, plastics, coatings, and printing inks. By blending them, or applying as a coating to the surface, inorganic color pigments can be used to give color to the substrate. This pigment is made by mixing metal oxides using simple chemical reactions like oxidation or high-temperaturecalcination. Inorganic color pigments are characterized by their high tinting strength and excellent light and weather resistance, as well as excellent resistance to solvent and oxidizing agents, heat stability and consistency.

Market growth is expected to be driven by a growing demand for surface treatments and a rising preference in aesthetics across many industries, including construction, medical, cosmetics, and automotive. The chemical and physical properties and functionalities of pigments can be altered by surface treatments, which play an important role in enhancing the aesthetic appeal and functionality of materials. Inorganic color pigments are also suitable for use in plastics, paints, coatings and other surface treatment activities in many industries.

In recent years, there has been a significant increase in demand for plastics, paints, and coatings due to increased construction activity and the development of the automotive industry in many developed and developing countries like the U.S., India and China. The demand for plastics, paints, and coatings products is growing in emerging regions like Asia Pacific, Africa, and the Middle East. The positive aspects of the paint and coating industry, combined with the increasing use of plastics to lower the overall weight, improve design, and enhance aesthetics in automotive industries, is expected to increase market demand over the next few years.

Application Insights

Paints and coatings dominated the market, accounting for 38% of global revenue in 2019. This market share can be attributed to growing demand for paints, coatings, and other products in the construction, automotive, as well as general industry applications. Coatings and paints are the main application segment for inorganic pigments. They are especially important for exterior and industrial coatings that require durability, stability, anti-corrosive, and long-lasting properties. Over the forecast period, there will be a rise in demand for coatings in various industries such as oil and gas and building construction.

The increasing demand for infrastructure and construction has been driven by rapid urbanization and rising populations. Numerous governments have taken numerous initiatives such as India's Housing for All project and Smart City project, which provide housing for its citizens. China's USD 142.0 billion investment in 26 infrastructure projects for 2019 is also expected to increase the industry's growth. These factors will likely increase the demand for paints, coatings, and fuel the growth in the market for inorganic colour pigments over the forecast period.

Product Insights

Iron oxide accounted for over 60% of global revenue in 2019, and led the market. Over the forecast period, the market will be driven by the increasing demand from the coating and paint industry. Because of their high quality and purity, iron oxide is preferred to natural pigments. They are also resistant to heat and weather, making them ideal for use in paints and coatings in architectural, industrial, and automotive applications.

In the construction industry, iron oxide pigments are used to produce pavement blocks, bricks roofing tiles, stamped concrete, designer tile, decorative or colored concrete products, among other things. They can impart color and resist UV rays.

Regional Insights

Asia Pacific was the dominant market, accounting for 38% of 2019's revenue share. Over the forecast period, the use of inorganic colors will be encouraged by the positive outlook on the plastics and paints & coatings market in China and India. There is a lot of opportunity to use plastics, paints, and coating products in many end-use industries, such as construction, marine, and manufacturing.

Many foreign investors have chosen to locate their manufacturing facilities in China and India due to the low labor costs. This has resulted in a higher level of construction activity, which is expected to drive the region's demand for paints, coatings, and inorganic pigments over the forecast period.

The sharp drop in plastics, paints, and coatings consumption in end-use industries like construction and automotive is expected to reduce the demand for inorganic pigments in the region in the second quarter of 2020.

Market Share Insights & Key Companies

Market players are constantly developing new products to meet the diverse end-use markets. Venator Materials PLC, for example, announced in February 2018 the launch of GRANUFIN pigments. The new pigments include a black and bluish-black color grade, which combine elements of iron oxide and carbon black pigment. These new pigments are useful in the construction industry for creating colored concrete.

A majority of players in the global market for inorganic pigments use a variety of strategies to expand their capacity, including acquisitions and mergers. In December 2019, Applied Minerals, Inc., announced that it had reached an agreement with one of America's most prominent cement producers to supply almost 30,000 tons of unmilled, ground iron oxide per year for the next two years. These are the major players in the inorganic pigments market:

• Huntsman International LLC

• BASF SE

• Lanxes

• Venator Materials PLC

• Applied Minerals, Inc.

• Cathay Industries

• Hunan Sanhuan Pigment Co., Ltd.

• KRONOS Worldwide, Inc.

Up Market Research published a new report titled “Inorganic Color Pigments Market research report which is segmented by Product (Ultramarine Blue, Carbon & Vegetable Black, Chrome Green, Iron Oxide), By Players/Companies Hunan Sanhuan Pigment Co Ltd, BASF SE, KRONOS Worldwide Inc, Venator Materials PLC, Applied Minerals Inc, Huntsman International LLC, Cathay Industries, Lanxess”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Inorganic Color Pigments Market Report Segments:

The market is segmented by Product (Ultramarine Blue, Carbon & Vegetable Black, Chrome Green, Iron Oxide).

Inorganic Color Pigments Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Inorganic Color Pigments Market

Overview of the regional outlook of the Inorganic Color Pigments Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Inorganic Color Pigments Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Inorganic Color Pigments Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Ultramarine Blue

                2. Carbon & Vegetable Black

                3. Chrome Green

                4. Iron Oxide

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Inorganic Color Pigments Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Inorganic Color Pigments Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.