[144 Pages Report] The report "Inorganic Pigments Market by Pigment Type (Titanium Dioxide, Iron Oxide, Carbon Black), Application (Paints & Coatings, Plastics, Inks), End-Use Industry (Building & Construction, Automotive, Packaging, Textiles), Region - Global Forecast to 2024", is expected to grow from USD 22.0 billion in 2019 to USD 28.3 billion by 2024, at a CAGR of 5.1%. The major factors driving the inorganic pigments market include growth of the global construction sector and increasing significance of aesthetics in the packaging industry.
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Titanium dioxide accounts for the largest share of the overall market.
Titanium dioxide is the most-widely used inorganic pigments, owing to its excellent physical properties. The excellent light-scattering properties of titanium dioxide help to provide good white opacity and brightness to surfaces. It is widely consumed because of its white color. Iron oxide is projected to be the second-largest pigment type during the forecast period.
Paints & coatings application is expected to grow at the highest rate during the forecast period
The paints & coatings segment is projected to be the largest and the fastest-growing application during the forecast period. Increased performance of coated objects and technological advancements in coating technology are the key factors for growth of paints & coatings. The market in the plastics application is expected to grow at a significant rate during the forecast period.
Building & construction is projected to be the fastest-growing end-use industry during the forecast period.
On the basis of end-use industry, the inorganic pigments market is segmented into building & construction, automotive, packaging, paper & printing, textiles, and others. Inorganic pigments fulfill the requirements for heat stability, chemical inertness, durability, and weather resistance in the construction industry. Building & construction is projected to be the fastest-growing end-use industry of the inorganic pigments market during the forecast period.
APAC is expected to account for the largest share of the global market during the forecast period.
Based on region, the inorganic pigments market has been segmented into APAC, Europe, North America, the Middle East & Africa, and South America. APAC is the largest and the fastest-growing inorganic pigments market owing to the increasing investments in the construction & industrial sector, along with the rapidly growing population of the region. Increasing consumer purchasing power has propelled the growth of various industries in this region. These factors are expected to lead to increasing demand for inorganic pigments in the region during the forecast period.
Key Market Players
The major vendors in the inorganic pigments market are Venator (UK), The Chemours Company (US), Tronox Limited (US), LANXESS (Germany), Kronos Worldwide, Inc. (US), Cathay Industries (China), Clariant (Switzerland), Ferro Corporation (US), Heubach GmbH (Germany), Lomon Billions (China), Alabama Pigments Company (US), Cabot Corporation (US), Carl Schlenk AG (Germany), Dominion Colour Corporation (Canada), DyStar (US), ECKART GmbH (Germany), Heubach GmbH (Germany), INEOS Pigments (US), Jiangsu Yuxing Industry & Trade Co., Ltd. (China), Matapel Chemicals (Indonesia), Tasnee (Saudi Arabia), Sudarshan Chemicals (India), Sun Chemical (US), Tata Pigments (India), and Zhejiang Huayuan Pigments Co., Ltd. (China).
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