CHICAGO, June 17, 2019 /PRNewswire/ -- According to the new market research report "Pigment Dispersions Market by Pigment Type (Organic, Inorganic), Dispersion Type (Water-based, Solvent-based), Application (Paints & Coatings, Inks, Plastics), End-use industry (Building & Construction, Automotive), and Region - Global Forecast to 2024", published by MarketsandMarkets™, the market size of Pigment Dispersions is estimated at USD 42.2 billion in 2019 and is projected to reach USD 54.3 billion by 2024, at a CAGR of 5.2%. The growing demand for paints & coatings in the building & construction industry is driving the market. Water-based pigment dispersion is widely used in major applications such as paints & coatings, printing inks, and plastics.
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On the basis of end-use industry, the building & construction segment is estimated to lead the pigment dispersions market in 2019.
Building & construction is the largest end-use industry of pigment dispersions. This industry is growing in countries of the APAC region such as India, China, Japan, and South Korea. The huge investment in infrastructural projects in the APAC region is increasing the demand for paints and coatings in the building and construction industry. Pigment dispersions provide heat stability, chemical inertness, and weather & lightfastness properties.
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On the basis of application, the paints & coatings segment is projected to lead the overall pigment dispersions market during the forecast period.
The paints & coatings application is projected to lead the overall pigment dispersions market. Decorative coating is the largest and fastest-growing consumer of pigment dispersions in the paints & coatings application segment. The demand for decorative coatings is estimated to increase in the near future, owing to the increasing demand for paints & coatings in residential, commercial, and industrial construction. Pigment dispersions have low viscosity, quick drying, good weather fastness, good lightfastness, low migration, and solvent & bleeding fastness properties.
On the basis of region, APAC is estimated to lead the pigment dispersions market in 2019.
APAC is estimated to be the largest pigment dispersions market owing to the high consumption in paints & coatings applications. Growing population, increasing disposable incomes, urbanization, and changing lifestyles are driving the pigment dispersions market. China, India, Japan, Indonesia, and South Korea are some of the key pigment dispersions markets in the region. Recent infrastructure developments and industrialization activities in the emerging countries have opened new avenues and opportunities for pigment dispersions manufacturers.
The key players in the Pigment Dispersions Market include Clariant (Switzerland), BASF (Germany), DIC Corporation (Japan), Sudarshan Chemical (India), Chromaflo (US), Cabot Corporation (US), Heubach GmbH (Germany), Penn Color (US), Pidilite (India), and Sherwin-Williams (US). These players have established a strong foothold in the market by adopting strategies such as expansion, new product launch, partnership, and acquisition.
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