The report on “High Performance Pigments by Type (Organic, Inorganic), by Application (Coatings, Plastics & Textiles, Inks, Cosmetics and Others) and by Geography – Global Forecast to 2021″. The market stood at USD 4,967 million in 2016 and is projected to reach USD 5,969 million by 2021, exhibiting a CAGR of 3.7% during 2016-2021, on account of soaring demand for pigments with higher pigment concentration, durability, resistance to temperature, favorable regulatory environment as well as increasing utilization in industries such as textiles, pharmaceuticals and plastics.
Pigments Type– Expected to dominate the market till 2021
Organic pigments segment is estimated to progress at a substantial rate during the forecast period. The organic pigments ability to produce numerous vibrant colors and their better eco-friendly credentials are some of the important factors aiding their enhanced usage in various application areas such as plastics, coatings, and cosmetics. Moreover, defining characteristics of organic pigments such as lightness in weight, resistance to wetting, and high tinting strength are likely to further boost the organic high performance pigments market in the coming years, globally.
Coatings Segment– Holds the largest share of application in 2016
Based on application, the coatings segment is estimated to be the largest segment in the high performance pigments market. The coatings segment is expected to grow at a significant rate during the forecast period owing to surge in the production of automobiles over the last few years, especially in Asia-Pacific, has spurred the growth of automotive coatings. High performance pigments provide vibrant colors, brilliant luster, and superior hiding power; thereby, proving them to be the best fit for application in the coatings industry worldwide.
Asia-Pacific– The fastest growing region
Asia-Pacific is projected to be the fastest growing region in global high performance pigments market, due to surging need for HPPs in various industries such as decorative and automotive coatings, plastics, textiles, cosmetics, inks, and construction, thus stimulating the growth of HPPs market in the region. Additionally, the supportive government policies and regulations are some of the other major aspects likely to push HPPs market in the region. China, with the highest consumption of high performance pigments continues to hold the largest share in Asia-Pacific HPPs market on account of augmenting automobile production in the country. Besides that, extensive research and development coupled with considerable investments by prominent manufacturers in the region have further attributed towards the growth of the market.
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