Coating Pigments Market to Garner USD 41.9 billion by 2032 - Latest Fact.MR Report

Organic Coating Pigments to Gain Significant Traction in the Coating Pigments Market Despite Being Expensive

Fact.MR's latest study on the global coating pigments market provides a detailed analysis of various drivers, trends, and opportunities from 2022 to 2032. In addition, it presents elaborate information about the leading segments in terms of composition type, product type, end-use industry and region.

NEW YORK, Feb. 2, 2022 /PRNewswire/ -- The global coating pigments market is expected to increase at a CAGR of 5.5% from 2022 to 2032, from USD 24.5 billion in 2022 to USD 41.9 billion in 2032.

Europe will have almost one-fifth of the global coating pigments market, followed by North America, which will hold around one-fourth of the market.

Coating pigments, which are an important component of coatings raw materials, account for more than 30% of total raw material volume. On the back of rapid development in the construction and infrastructure sector, as well as other end-use sectors, coating pigment dominates the global market in terms of value and volume.

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New technologies are being introduced by key firms to improve the features and efficiency of coating pigments. Coating pigment demand is being boosted by organic coating pigments. Manufacturers have been drawn to organic coating pigments with improved performance for sustainable products.

There has been an evolution in the formulas of coating solvents, with the goal of achieving better results. Furthermore, coating pigments' current characteristics, such as color variation and effective binding properties, are allowing the coating pigments market to expand. In the foreseeable term, the development of novel coatings solvents is expected to enhance the usage of advanced coating pigments.

The lucrative market for coating pigments in the Asia Pacific area has enticed a number of significant names in the paint and coatings business to relocate their operations there. As a result, East Asia now holds a one-fifth share of the global coating pigments industry.

Key Takeaways:

• German coating pigments market is expected to rise at a CAGR of about 5.6% by 2032.
• China to garner over 72% of the East Asia coating pigments market share.
• Organic coating pigments are expected to gain significant growth in developed regions.
• Demand for coating pigments in architectural application to account for nearly 38% of the market share.

Growth Drivers:

• The coating pigments market has been impacted by an increase in the use of colored packaging materials for a variety of end-use sectors such as food packaging, consumer goods packaging, and so on.
• Increasing demand for thermal preference coatings in residential building, as well as increased use of automotive coatings to address and fulfil the needs of outpacing the automotive sector, are driving the market for coating pigments.

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Competitive Landscape

The development of new products is a prominent trend in the coating pigments industry. Coating pigments producers have boosted their R&D investment, which is reflected in the market's sustained expansion.

Companies are strategically investing in R&D operations in order to spread their manufacturing units across regions in rising economies and gain a new consumer base.

Key Companies Profiled by Fact.MR are –

• PPG INDUSTRIES INC.
• THE Sherwin Williams Company
• DuPont Inc.
• Akzo Nobel N.V.
• BASF SE
• Axalta Coating Systems Ltd.
• Kansai Paint Co., ltd.
• Hempel A/S
• Nippon Paints Holding Co., ltd.
• Jotun Group
• NOF Coatings Pigment Group
• Alucoil
• United Metal Coating LLC
• Jinhu Color Powder Coating Co., ltd.
• The Magni Group, Inc.

More Valuable Insights on Coating Pigments Market

Fact.MR provides an unbiased analysis of the coating pigments market, presenting forecast statistics for the period from (2022-2032). The study divulges compelling insights on the global coating pigments market with a detailed segmentation on the basis of:

• By Composition Type 
• Extenders/Fillers
• Titanium Dioxide (TiO2)
• Color Pigments
• Others (anticorrosive, metallic, pearlscent)
• By Product Type
• Inorganic
• Organic
• By End-Use Industry
• Automotive
• Protective & Marine
• Refinish
• Architectural
• Aerospace
• Packaging
• By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

Key Questions Covered in Coating Pigments Market Report

• The report offers insight into the coating pigments market demand outlook for 2022-2032.
• The market study also highlights projected sales growth for coating pigments market between 2022 and 2032.
• Coating pigments market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
• Coating pigments market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

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