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The plastic pigments market size is forecast to increase by USD 4.26 billion at a CAGR of 7.47% between 2023 and 2028.
The plastic pigments industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The packaging segment is estimated to witness significant growth during the forecast period.Plastic pigments are essential in creating visually appealing packaging designs for consumer products, offering vibrant colors and custom branding elements that differentiate brands and capture consumer attention. These pigments contribute significantly to the aesthetic value and shelf presence of packaged goods, enhancing their visual impact and perceived worth. The selection of plastic pigments for packaging applications is influenced by performance characteristics and functional requirements. Factors such as chemical compatibility, heat resistance, light stability, and barrier qualities are crucial considerations for various industries, including food and beverage, pharmaceutical, and personal care. High-performance pigments, including inorganic and organic types, are utilized based on their specific application needs.
Key players In the market include Clariant, Huntsman, Cabot, Chemours, Heubach, Tronox, Ferro, and others. The market is driven by increasing consumer demand for sustainable and eco-friendly products, as well as advancements in pigment technology for improved durability, lightfastness, and compatibility with plastic materials and resins.
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The Packaging segment was valued at USD 3.51 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 45% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is experiencing substantial growth In the APAC region due to industrialization and urbanization driving demand for colored plastics in industries such as construction, automotive, electronics, packaging, and consumer goods. The automotive sector, a significant consumer of plastic pigments for vehicle components, is expanding due to rising urbanization, economic growth, and consumer preferences for customization. Additionally, the APAC region's large and growing consumer goods market, including electronics, appliances, household products, and toys, contributes to the market's growth. High-performance pigments, including inorganic and organic types like Isoindoline yellow pigments and Paliocrom effect pigments, are essential for achieving desired colors, opacity, and durability in plastic materials.
Key players In the market include Clariant, Huntsman, Cabot, Chemours, Heubach, Tronox, Ferro, and Evonik. Plastic pigments are available in various forms, including powders, pastes, and liquid dispersions, catering to diverse application needs in paints and coatings, building and construction, and specialty pigments. Environmental concerns, such as pollution and composability, are driving the development of sustainable plastic pigments using renewable raw materials. Key trends include improving durability, lightfastness, and compatibility with plastic resins and polymers.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The plastic pigments market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the plastic pigments market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, plastic pigments market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.
Altana AG - The company's subsidiary, ECKART, provides a comprehensive selection of plastic pigments. This offering includes metallic and pearlescent variants, as well as printing inks suitable for press-ready applications. The company's pigment portfolio caters to diverse industries and applications, ensuring a broad market reach.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a wide range of colorants used to enhance the aesthetic appeal of plastic materials. The industrialization of plastic production has led to a significant increase in demand for high-performance pigments, with both inorganic and organic varieties playing essential roles. Inorganic pigments, derived from minerals and other inorganic sources, offer superior properties such as excellent lightfastness, durability, and opacity. These pigments are widely used in various industries, including paints and coatings, building and construction, and automotive applications. Inorganic pigments, such as titanium dioxide, iron oxide, chromium compounds, and phthalocyanine, provide excellent color and translucency to plastic materials.
Organic pigments, on the other hand, are derived from organic sources and offer excellent color strength and compatibility with various plastic resins. Organic pigments, including isoindoline yellow pigments and Paliocrom effect pigments, are used in various industries, including food, medical, and plastics. The market is driven by several factors, including the increasing demand for sustainable products and environmental concerns. Consumers and businesses are increasingly focusing on the composability and sustainability of plastic products, leading to a growing demand for sustainable plastic pigments made from renewable raw materials. Environmental issues, such as pollution, have also led to increased scrutiny of the plastic industry.
As a result, there is a growing focus on reducing the environmental impact of plastic production and use. This has led to the development of new pigment technologies that offer improved weatherability, heat resistance, and chemical resistance. The market is highly competitive, with several key players, including Clariant, Huntsman, Cabot, Chemours, Heubach, Tronox, Ferro, Evonik, and Lanxess, among others. These companies are investing heavily in research and development to meet the evolving needs of their customers and stay ahead of the competition. The market is segmented into organic and inorganic segments based on the type of pigment. The organic segment is further divided into organic particles and dyes, while the inorganic segment is divided into inorganic particles and powders, pastes, and liquid dispersions.
The choice of pigment depends on the specific application needs. Plastic pigments are used in various applications, including paints and coatings, plastic resins, and building and construction materials. The automotive industry is a significant consumer of plastic pigments, with a focus on developing pigments that offer improved weatherability and heat resistance. In conclusion, the market is a dynamic and evolving industry, driven by the increasing demand for sustainable products and the need to address environmental concerns. The market is highly competitive, with several key players investing in research and development to meet the evolving needs of their customers.
The choice of pigment depends on the specific application needs, with both organic and inorganic pigments offering unique properties and benefits.
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Market Scope |
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Report Coverage |
Details |
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Page number |
175 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.47% |
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Market growth 2024-2028 |
USD 4264.92 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.54 |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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