The global inorganic pigment market to grow at a CAGR of 4.14% during the period 2017-2021.
The report, Global c Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is growing prominence of sustainable paints. Pigments are one of the most prominent components of paint. They are responsible for imparting color and finish along with protecting the surface from corrosion and harsh weather. Inorganic pigments are used to provide metallic finishes and resilient properties. Significant reduction in the use of lead compounds in specialized industrial paints has been observed. Paints and coatings with low VOC content are gaining prominence as volatile hydrocarbons are known to cause pollution.
According to the report, one driver in market is large price differential between organic and inorganic pigments. End-users such as paints and coatings, plastics and packaging, and the automotive sector are using inorganic pigments in their offerings as they provide an instantaneous reduction in price when compared with organic pigments. Although organic pigments offer many options in terms of color, inorganic pigments are becoming the most preferred due to pricing differential. Cost becomes a decisive factor if the end-users choose to opt for organic pigments over lead-based or inorganic pigments due to environmental concerns. The increased acceptance of these products has resulted in competitive pricing with inorganic pigments that dominate the market and hybrid pigments that are slowly penetrating the pigments market.