The Pigment Dispersion Market Size is expected to grow USD 47 billion at a CAGR of 3.12% during the forecast period.
The pigment dispersions market is also being driven by rising demand for paints, coatings, and construction materials in emerging nations. Pigment dispersion is a suspension of insoluble solid particles available either in water form or in organic solvent form.
These particles play a vital role in deciding the end properties of printing inks, lacquers, and paints. The major function of using pigment dispersions is to combat various chemical damages, weather effects, discoloration, and harsh temperatures. Some of the major applications of pigment dispersion involve the industries such as automobiles, chemical, and construction industries. In the manufacturing process, good pigment dispersion is essential for high-quality paints. The paint will not hold up and keep the intended color standards if the pigments are not dispersed properly.
In order to create good quality paints, properly dispersed pigments are important. The quality of the dispersed pigments can be evaluated through the color strength, heat resistance, weather stability, and how productive the color is by spreading over the large surface areas with a brilliant concentration of color pigments. Various industry manufacturers utilize pigment dispersions for coloring many types of materials, such as paint, thermoset composites, coating plastics, inks, textiles, and more. These diverse applications in numerous industries can positively influence the Pigment Dispersion Market Revenue in the forecast period.
The COVID-19 pandemic situation has impacted various industries drastically, and the pigment dispersion market is no different as many manufacturing sectors heavily rely on quality pigment dispersions for preparing their supply chains. The Pigment Dispersion Market Growth has been impacted severely due to various governmental restriction guidelines and lockdown situations in various countries across the globe. Due to the disruptions in the supply chain in the raw material of pigment dispersion, the Pigment Dispersion Market did not see much increase in the production output. This has highly hit the construction sector, which has led to production and factory operations in the electronics, automotive, and aerospace industries temporarily shut down during the lockdown period.
Many governments have been lifting the operational market restrictions as the pandemic situation is improving in the review period. Various national economies have resumed the pigment dispersion market activities. As many of the major key players of the industry are taking innovative approaches with the marketing strategies through the market segments and sub-segments, risks are reducing and creating more market opportunities.
Chief Factors Existing in The Market
Key Market Drivers
The pigment dispersions market is predicted to grow rapidly in emerging economies such as the Asia Pacific and South America due to rapid industrialization. The construction, packaging, automotive, and textile industries have witnessed significant growth in recent years and continue to surge more. Hence, there is a rise in demand for protective paints and UV protection paints for automotive manufacturing and aircraft. Apart from that, the pigment dispersion demand can spike up more for wood finish paints which can predictively bring more growth in Pigment Dispersion Market Size during the review period.
As more and more governments are stressing the use of environment-friendly substances, various industries can find implementing the sustainable approaches more expensive. More infrastructural changes would be required to reduce carbon footprints. Regulations for using certain grade pigments can discourage end users for some applications due to their high-cost factors. These challenges can inhibit the growth rate of the pigment dispersion market during the assessment period.
As Asian countries continue to industrialize and the United States recovers from the dramatic slump during the global financial crisis, the global construction market is predicted to increase at a faster rate than global GDP over the next forecast periods. The industry is expected to rise as a result of mergers and acquisitions among automotive manufacturers and suppliers, as well as increased automobile production and sales. Hence, there would be more opportunities for various pigment dispersion market segments to grow. Furthermore, throughout the assessment period of the pigment dispersion market, growing urbanization along with rising disposable income in emerging nations is expected to boost market expansion.
Various governments have restricted the use of toxic chemical substances in the manufacturing of pigment dispersion, which can cause a major hindrance to the pigment dispersion market growth. The use of heavy metals in pigment dispersion production, such as cadmium, mercury, lead, etc., when disposed of in the environment, can cause pollution. Studies have stated that pigment dispersion syndrome is associated with 79 drugs and 29 conditions. These stringent governmental regulations can force various key players to shift industries that can reduce the Pigment Dispersion Market Share in the forecast period.
Cumulative Evaluation of The Market
The pigment dispersion market research report outlines various growth factors influencing the global market. The pigment dispersions market is estimated to register more growth value in the forecast period due to the rising demand in the automotive, construction, and other manufacturing industries. Demand for UV protection paints and coatings is rising in the emerging economies, which creates huge opportunities in the global market. Stringent government regulatory frameworks for restricting toxic chemicals in pigment dispersion production are the major restraint for the pigment dispersion market. As the key players introducing innovative market strategies, it is predicted to make rapid growth in the pigment dispersions market.
The pigment dispersion market has more scope for growth in the global sphere for being comprised of various market segments and sub-segments. The Pigment Dispersion Market Trend is influenced by major segments by pigment dispersion type, pigment dispersion application, and others.
On the basis of pigment dispersion type segment, the pigment dispersion market is classified into water, solvent, and others.
The application segment of the pigment dispersion market is further categorized into construction, printing, automobile, furniture, aerospace, and others.
According to the geographical classification of pigment dispersion market regions, the segment by region covers North American countries, Asia Pacific countries, Europe, Latin America, the Middle East & Africa, and the rest of the world. Based on the Pigment Dispersion Market Research report, the North American region is estimated to dominate the global market shares obtaining the highest CAGR in the review period from 2022 to 2030 due to more expansion in the aerospace and defense sector. Hence, this region would witness substantial growth with high consumption potential and increased growth on rising economic rate and more production capacities.
The Middle East & African counties like UAE, Iraq, Iran, Saudi Arabia, and Kuwait are predicted wot have surging demand for pigment dispersion in the forecast period due to the increased tourism & travel sector. Furthermore, the presence of vast oil and gas reserves in this region is expected to boost the pigment dispersion market growth due to the use of pigment dispersion in securing industrial gear.
Competitive Intensity Within the Industry
According to the global research report on the pigment dispersion market, the global regions create a heavy competitive sphere with many market players joining in the industry trends. Some of the major key players in the pigment dispersion market are mentioned below:
There can be many multinational market players seen to compete in the global market having their own dynamic approaches to propelling the value of Pigment Dispersion Market Forecast. Since more is more new key players entering the global pigment dispersion market, the competitive scene is becoming more fierce.
Recent Market Developments
As per the pigment dispersion market research report, various quantitative and qualitative analyses have been executed on the market studies to gauge the performance of the global market. This research report consists of data on the global pigment dispersion market overview, various market dynamics influencing the global performance, market segmentation, regional segmentation analysis, global market competition analysis, and recent market developments. Besides that, the Pigment Dispersion Market Analysis outlines various market strategies the major market key players are implementing in order to propel the growth of the pigment dispersion market in the reported forecast periods.
Key Industrial Segments
|Market Size||2030: USD 47 Billion|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Dispersion Type, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||BASF SE (Germany), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), Akzo Nobel N.V. (the Netherlands), Clariant (Switzerland), RPM International Inc. (U.S.), Tikkurila Oyj (Finland), KANSAI PAINT CO.,LTD (Japan), Kelly-Moore Paints (U.S.), and Dunn-Edwards Corporation (U.S.) among others.|
|Key Market Opportunities||Rapid increase in construction activities, rising demand for protective paints in automotive industry|
|Key Market Drivers||Demand for pigment dispersion is predicted to witness significant growth over the assessment period due to surging demand for wood finish paints.|
Major end users of pigment dispersion are the automotive industry and the construction industry.
The growing demand for longer lasting, UV-resistant paints and coatings in the automotive and construction industries is likely to be the major driver for the global pigment dispersion market.
The increasing government regulations banning the use of toxic compounds in pigment dispersion products are likely to be the major restraints against the pigment dispersion market.
Leading players in the pigment dispersion market include Akzo Nobel NV, BASF, PPG Industries, Clariant, and RPM International Inc.
North America is the leading regional market for pigment dispersion.