The global Plastic Pigments market size accrued earnings worth approximately USD 15.25 Billion in 2023 and is predicted to gain revenue of about USD 23.87 Billion by 2032, is set to record a CAGR of nearly 5.1% over the period from 2024 to 2032.
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Pigments are a collection of colored chemical compounds that absorb white light of a specific wavelength and release multiple colors through the process of transmission or reflection. Pigments are used to improve and enhance the appearance of various materials. There are primarily two types of pigments: organic and inorganic. Organic pigments contain carbon and metallic components. Inorganic pigments are often made up of metallic salts. Inorganic pigments have higher particle sizes than organic pigments. Pigments improve a variety of qualities of substances, including hiding power, light and weather resistance, opacity, heat stability, and tinting strength.
The global plastic pigments market is expected to be driven by rising product demand in the paint and coatings sector. Plastic pigments are mostly used in paints and coatings to enhance the visual and color appeal of products. This is another element expected to drive market expansion in the approaching years. Furthermore, manufacturing organizations are always investing in R&D technologies to increase their production capacity. Plastic pigments have outstanding features and properties that are useful in the automotive industry.
Plastic pigments serve to provide a beautiful luster, minimize opacity and reflection, and improve the orientation, overall appearance, and durability of automotive interior and exterior components. Thus, the demand for plastic pigments in the automotive industry is expected to increase the worldwide plastic pigments market in the future. However, severe norms and regulations surrounding sustainability may impede the global plastic pigments market in the approaching years.
In order to provide visitors with a comprehensive perspective of the Plastic Pigments market, we have included a competitive landscape as well as an analysis of Porter’s Five Forces model. The study includes a market attractiveness analysis, which compares all segments based on market size, growth rate, and overall attractiveness.
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The Global Plastic Pigments Market is segmented based on product, application and region
Global Plastic Pigments Market: Product Segment Analysis
● Organic
● Inorganic
Global Plastic Pigments Market: Application Segment Analysis
● Packaging
● Consumer Goods
● Paints and Coatings
● Automotive
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The global Plastic Pigments market profiles key players such as:
● BASF SE
● DIC Corporation
● ALTANA
● Huntsman Corporation
● LANXESS
● Chemours
● Heubach
● Tronox
● Ferro
● Pidilite Industries Limited
In 2018, Europe had a significant revenue share of the global plastic pigments market and is anticipated to maintain this regional dominance in the coming years. This can be linked to the growing demand for plastic pigments in the paint and coatings sector for luxury and sports cars. North America is likely to create substantial potential for the global plastic pigments market due to the demand for inorganic pigments in construction and other infrastructure projects. Inorganic pigments protect buildings from moisture, bad weather, fungi, corrosion, and so on.
The geographic segmentation includes historical and projected demand for North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
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