Pigments market reach $45 billion by 2018

Pigments market to reach $45 billion by 2018

12:04 PM, 15th July 2011
Pigments market to reach $45 billion by 2018

KONSTANZ, GERMANY: Ceresana Research forecasts that the global pigment market will earn revenues of more than $45 billion in 2018. In 2010, the Asia Pacific region was the largest market area, generating approximately 45 per cent of the global demand for pigments. This was followed by North America and Western Europe.

Pigments are mainly used in well established industries, such as paint and varnish manufacturing and plastics production. Demand in individual countries follows the overall economic development. The construction industry, in particular, has a strong impact on the demand for pigments. Apart from coloring construction materials such as concrete, pigments are widely used in plastic products, paints and varnishes.

Ceresana Research expects Asia Pacific will continue to significantly influence market dynamics over the next years. Rapidly developing emerging markets have the greatest growth potential, above all China and India. Moreover, South America and the Middle East register above-average growth rates of 3.6 per cent to 4.4 per cent. Carbon Black pigments, which are used in a number of plastics, represent a strong growth market worldwide. Many emerging countries still have a low per-capita consumption of plastics, which will, however, increase considerably over the mid-term.

The demand for different types of pigments in individual regions shows different developments. While the use of iron oxides and organic pigments records the highest growth in North America and Western Europe, other regions also see their demand for titanium dioxide and carbon black increasing significantly. Ceresana expects that titanium dioxide will have a share of more than 60 per cent of the global pigment market. Iron oxides are used worldwide for construction materials, paints and varnishes, but are also gaining importance for other products. For example, markets such as the food and cosmetics industry will see considerably higher growth of 3.5 per cent annually.

Product innovations primarily aim at organic, effect and special pigments. The focus is on higher colour intensity, colour variety and additional properties, such as self-cleaning or antibacterial characteristics, or paints that reflect infrared light and offer insulating properties. Organic pigments, whose market share in volume is small, will register above-average growth rates.

© WOC News

 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Keyuan cleared of any inappropriate accounting by independent auditors

NINGBO, CHINA: Keyuan Petrochemicals has made no inappropriate accounting of its customer transactions nor has it intended to misstate revenues, accor ...

Read more
A better way to photo gray

STORRS, US: Ever looked wistfully at those photo gray sunglasses and wished they would turn some other fun colour? Well the technology is now here, t ...

Read more
The Roslin Institute moves into its new home

EDINBURGH, SCOTLAND: Recently, £30 million of BBSRC investment in new research infrastructure saw fruition, as The Roslin Institute took up r ...

Read more
BASF selects Fluor as engineering partner in Asia & Europe

IRVING, TEXAS: Fluor Corporation said BASF has chosen it as an engineering partner for chemicals and petrochemicals projects across Asia and Europe. B ...

Read more
National Peroxide plant in Kalyan, India shutdown for expansion

MUMBAI, INDIA: National Peroxide Ltd informed the Bombay Stock Exchange (BSE) that operation of the company’s plant located at Kalyan, had been ...

Read more
UMass Amherst to research next-generation flexible photovoltaics

AMHERST, US: University of Massachusetts Amherst, Polymer Scientist, Ryan Hayward, recently received a five-year, $750,000 grant from the US Departmen ...

Read more