In a recent published report, Kenneth Research has updated the market report for Pigments Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Pigments Market products.
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The growing demand for organic pigments owing to growing awareness is fostering the global pigments market growth. The companies are indulged in R&D activities to innovate and develop new products, which can open new paths of applications.
The pigments market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:
Key Market Insights:
The increasing health concerns and health awareness is leading the customers to be more cautious about goods being used and has also led customers to incline more towards organic pigments. The inclination is helping the overall pigments market to grow. The changing scenario of economies along with increase in per capita income has improved the purchasing ability and that leads customers to buy the premium organic pigments which are costlier than the synthetic pigments.
The increasing demand from end use applications such as, paints & coatings, plastics, textile and printing ink are helping the market grow. Colors play a major role in the goods provided as they are appealing to the eyes and the growing preferences for aesthetics is leading towards the pigment market growth. Also, the increased growth in application market will fuel the market to grow alongside.
Asia Pacific is dominating the market owing to factors like booming economy, increasing investments, improving infrastructure, and growing population. The continuous efforts of the manufacturer to innovate and come up with products more effective and efficient is fueling the R&D efforts. The manufacturers have to keep upgrading and innovating in order to survive in the competitive market. Few of the prominent companies operating in the pigments market include BASF, LANXESS, Clariant, Huntsman and Merck.
o Paints & Coatings
o Printing Inks
o Asia Pacific
o North America
o Rest of the World
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