Market Overview

  • The Global Inorganic Paint Pigment Market is expected to grow at a high CAGR of 4.7% during the forecasting period (2020-2027).
  • Inorganic pigments are very fine granular solids that act as a color material for paint. They have their color and physical & chemical properties such as oil absorption, heat resistance, weather resistance, drying rate, tinting strength, resistance to other chemicals, and easy to disperse, etc. These pigments are obtained from mixed metal oxides. These pigments are produced by the high-temperature calcination process. These pigments are not affected by strong acids, bases, and oxidizing agents. Inorganic pigments are incorporated in the paints for imparting color, opacity, and gloss. These pigments are effective in improving the appearance of paint.

 

Download free sample: https://www.datamintelligence.com/download-sample/inorganic-paint-pigment-market

 

Market Dynamics:

  • The market growth is driven by the increasing demand for inorganic paint pigments in the architecture products, and automobile coatings. There is a rising desire for greater transparency of colors used in the combination with the paint inorganic pigments due to its chroma, strength, and transparency leads to the necessity to update automotive paint colors. Hence, it is increasing the usage of the paint pigments in the automobiles.
  • Advancement of the different technologies being adopted by the market players for manufacturing the paint pigment shall have a positive impact on the market. Companies are developing the pigments for smart traffic paints that glow at night using luminescent powder and paints that change color. For instance, in 2017 BASF had entered into the partnership with Landa for revolutionary pigment technology, a new portfolio of ultra-high transparency pigment.
  • Rising government investment in the development of the infrastructure is stimulating market growth. For instance, according to the Department of Industrial Policy and Promotion (DIPP), the Foreign Direct Investment (FDI) received in the construction development sector was USD 25.12 billion from April 2000 to June 2019 for developing the townships, housing, built-up infrastructure and construction development projects in India. Further, it is expected that India would be requiring the investment of USD 777.73 billion in infrastructure by 2022 to have sustainable development in the country. Several companies are investing in the infrastructure.
  • However, the presence of toxic substances in chemical paint could harm health. Fluctuations in the cost of raw materials, availability of substitute ingredients, government, and environmental regulations are hindering the market growth. For instance, stricter environmental regulations imposed by the Chinese government to reduced production to limit emissions have led to the closure of the plants and consolidation of companies in China.

 

Market Segment Analysis

  • Global paint pigment market is segmented based on types as carbon pigment, chrome pigment, iron oxide, cobalt pigment, cadmium pigment, titanium dioxide pigment, and others. Carbon pigment. Titanium dioxide is the fastest-growing inorganic paint pigment segment as it is the most widely preferred inorganic paint pigment due to its properties such as excellent color quality, high hiding power, nontoxic nature, and reasonable cost. It is a white colored pigment. There is an increased demand for titanium dioxide inorganic paint pigment due to its better light-scattering properties that provide excellent opacity, brightness, and whiteness to the paint products.
  • Iron oxide and chrome-based pigments contribute significant market share over the forecasted period as there is high consumption of these inorganic paint pigments globally. Hematite is the most common iron oxide used for red-tone paint. Chromium compounds are widely used to produce vibrant yellows, oranges, and greens.
  • Further, the market is also classified based on applications into architectural coatings, industrial coatings, and others. Architectural coatings account for the highest market share due to the high demand for inorganic paint pigments for the architectural products for the residential and commercial buildings in the construction industries. Inorganic Paint pigments used for architectural products include anti-corrosion and fireproofing properties. The availability of new colors, finishes, and low volatile organic compound paint pigment formulations drive the demand for new product development. Growth in the construction industry is expected to have a positive impact on the market.
  • The industrial coating segment is expected to have significant market growth owing to the wide use of paint pigment for aerospace, automotive, consumer products, original equipment, shipbuilding, and infrastructure supplies industries. Inorganic paint pigments used for industrial coating reduce friction or serve as adhesives, resist temperature extremes, prevent corrosion, and protects against microbial contamination.

 

Market Geographical Analysis

  • By region, the global inorganic paint pigment market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, Asia Pacific dominated the global inorganic paint pigment market due to the high growth in the construction industry. According to the Invest India (a National Investment Promotion & Facilitation Agency), the construction industry is expected to increase and reach up to USD 738.5 Billion by 2022. There is rapid expansion in the construction industries due to the rapid urbanization in developing countries such as China, and India. According to Teri, The Energy and Resource Institute, India’s urban population is expected to reach from 410 million in 2014 to 814 million by 2050. It is further expected that India would be adding four new megacities by 2030. Growth in the construction industry is boosting the demand for paint pigments over the forecasted period. Rinsing domestic income, increasing domestic income, and consumption are the factors increasing the demand for the chemical paint pigment in India and China.
  • European countries are also witnessing the increased demand for paint pigments in the automotive industry. According to the European Automobile Manufacturers Association, Automobile manufacturers operate around 309 vehicle assembly and production plants in 27 countries across Europe. Approximately, 19.2 million cars, vans, trucks, and buses are manufactured every year. European countries are also witnessing the high usage of paint pigment in shipbuilding. According to the Organization for Economic Co-operation and Development (OCED), European shipyards dominated the industry with orders totaling approximately USD 22 billion in 2017 and it is further expected to increase over the forecasted period. Several renovation activities are growing as there is a large number of old buildings in Europe. These old buildings consume more energy. Hence, renovation activities are expected to increase over the forecasted period which is accelerating the demand for paint pigment.
  • Rising government investments for increasing production in industrial sectors such as aviation, shipbuilding, industrial, aerospace, automotive, furniture, and others in the Middle East Africa region especially Ukraine are fueling the market growth over the forecasted period.

 

Competitive Analysis

  • The global paint inorganic pigment market is highly competitive with the presence of domestic and foreign market players. The product diversification, product innovation, expansion strategies and opportunities for market growth through new product launches intensify the competition among the companies. BASF SE, Dow Chemical Company, Clariant AG, Musclerox, STOCKMEIER Group, Lanxess, UNILEX GROUP, and Ei Dupont De Nemours are the leading players with the significant market size. Leading market players are involved in scaling up the manufacturing facilities, and increasing the market penetration.
  • The companies are entering into the collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for paint pigment and their expansion across the globe. For instance, in August 2019, DIC Corporation had entered into an agreement with BASF SE for the acquisition of BASF’s global pigments business for Euros 1.15 billion. The transaction is expected to close in the fourth quarter of 2020. In April 2017, BASF had entered into the strategic long-term partnership with Landa Labs for nano-pigment technology. Under the terms of the agreement, BASF SE would use employ Landa’s revolutionary nano-pigment technology in a new portfolio of easy dispersible ultra-high transparency pigments. This product would unprecedented color depth while significantly simplifying the production of automotive coatings.

 

View full report: https://www.datamintelligence.com/research-report/inorganic-paint-pigment-market

 

Enquiry before buying: https://www.datamintelligence.com/enquiry/inorganic-paint-pigment-market

 

About Us

DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world.

 

For more information:

Sai Kiran

Sales Manager at DataM Intelligence

Email: [email protected]

Tel: +1 877 441 4866

Website: www.datamintelligence.com