USD 28.6 billion
Pigments Market Size, Share, and Growth Analysis
Pigments Market By Type (Organic Pigments, Inorganic Pigments), By Application (Paints and Coatings, Plastics), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15E2641 |
Region:
Global |
Published Date: January, 2025
Pages:
193
|Tables:
63
|Figures:
68
Format -
Pigments Market Insights
Global Pigments Market size was valued at USD 28.6 billion in 2023 and is poised to grow from USD 30.4 billion in 2024 to USD 49.56 billion by 2032, growing at a CAGR of 6.3% during the forecast period (2025-2032).
Pigments play a crucial role in paints and coatings used in the construction sector. They not only provide color and enhance aesthetics but also protect surfaces from weathering, UV radiation, and corrosion. When mixed with binders and other additives, pigments create durable coatings for walls, ceilings, facades, and various structural elements. Additionally, pigments are added to concrete and cement-based products to improve their appearance and give them color. These factors are expected to drive the demand for pigments in the growing building and construction sector. Moreover, plastics are highly versatile materials that can be molded, extruded, and shaped into various forms. They find applications in a wide range of industries, including packaging, automotive, construction, electronics, healthcare, and consumer goods.
Pigments are widely utilized in the plastics industry for several reasons. One of the primary reasons is to provide vibrant and attractive colors, as pigments offer a wide range of color options, allowing plastic manufacturers to create products in different hues and shades. Moreover, pigments are indispensable in the plastics industry for coloration, branding, UV resistance, concealing properties, product identification, safety, and creating visual effects. By enhancing the appearance, performance, and market appeal of plastic products, pigments add value to the industry. These factors collectively contribute to the growth of the pigments market during the forecast period.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Organic
Fastest Growth
Inorganic
Growth Rate
6.3% CAGR
Global Pigments Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Pigments Market Segments Analysis
Global Pigments Market is segmented by Type, Application and region. Based on Type, the market is segmented into Organic Pigments, Inorganic Pigments and Specialty Pigments. Based on Application, the market is segmented into Paints and Coatings, Plastics, Printing Inks, Construction Materials and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Pigment Type
Based on pigment type, the organic segment is dominating with the largest pigments market share. Organic pigments have emerged as the pigment of choice, driven primarily by the increasing demand for environment-friendly and non-toxic pigments across various end-use industries. Organic pigments do not contain heavy metals and are considered safer options with minimal impact on human health and the environment. Many countries and regions have either imposed restrictions or complete bans on pigments containing heavy metals like cadmium, chromium, lead, and mercury owing to their toxicity. This is significantly boosting the demand for organic pigments from the paint and coatings industry. Their non-toxic nature makes organic pigments compliant for various applications involving food packaging and consumer products.
The inorganic segment is expected to witness significant growth during the forecast period. Rapid urbanization and infrastructure development projects, particularly in emerging economies, drive the demand for inorganic pigments. The construction sector utilizes pigments in various applications, including paints, concrete, tiles, and coatings for buildings and infrastructure projects. This may act as one of the key drivers responsible for the growth of the pigments market for inorganic pigments type. Furthermore, rising disposable income levels and changing lifestyles have led to increased consumer spending on products like automobiles, consumer electronics, and home furnishings where inorganic pigments are used to provide attractive and vibrant colors. This factor may further augment the growth of the inorganic pigments market during the forecast period.
Analysis by Application
Based on application, the paint & coating segment is dominating the pigments market. As urbanization and infrastructure development continue to expand globally, there is a significant need for paints and coatings for buildings, bridges, roads, and other infrastructure projects where pigments are widely used to provide colors in paints. Thus, the increasing demand for paints and coatings may lead the pigments market to witness a significant growth. Furthermore, various industries require specialized coatings to protect their equipment, machinery, and infrastructure. Industries such as oil and gas, manufacturing, marine, aerospace, and power generation rely on protective coatings to prevent corrosion, extend the lifespan of assets, and maintain operational efficiency where pigments are widely used for color stability purposes.
As per the pigments market analysis, the construction material segment is expected to be the fastest growing segment. Pigments are essential in the paints that are used in the construction of buildings. They play a vital role in achieving desired colors and aesthetics, as the appearance and color of structures greatly influence architectural design and increase its appeal. Construction projects often require customization to meet the design and branding preferences of builders, architects, and property owners. Pigments offer a wide range of color options, allowing for flexibility in achieving specific design goals. Pigments are used in both exterior and interior construction applications. Exterior pigments are formulated to withstand harsh environmental conditions, such as UV exposure, temperature fluctuations, and moisture. Interior pigments are designed for durability, washability, and appearance retention.
Global Pigments Market Analysis by Pigment Type
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Pigments Market Regional Insights
Asia-Pacific is dominating with the largest pigments market share. Countries in the Asia-Pacific region, particularly China, India, and Southeast Asian nations, are undergoing rapid industrialization. This industrial growth has resulted in increased production in sectors such as automotive, construction, packaging, textiles, and consumer goods, all of which rely on pigments for coloration and aesthetics. This factor is anticipated to be a key driver for the growth of the pigments market in the Asia-Pacific region. Furthermore, the packaging industry in the Asia-Pacific region is experiencing strong growth. This growth is fueled by changing lifestyles, increased consumption, and the expansion of e-commerce. Pigments are extensively utilized in packaging materials to provide vibrant colors, differentiate brands, and enhance visual appeal.
North America is anticipated to witness the fastest growth during the pigments market forecast period. The region is home to several multinational pigment manufacturing companies that have been operating in the market for decades. These companies have huge production capacities and strong distribution networks across the globe. With the presence of many end-use industries such as paints & coatings, plastics, construction materials, North America accounts for the largest consumption of pigments. Additionally, the region is an innovation hub, and companies regularly invest in R&D to develop new and advanced pigment technologies.
Global Pigments Market By Geography
- Largest
- Fastest
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Pigments Market Dynamics
Drivers
Growing Use of Pigments in Paints
- The paints and coatings industry has been one of the largest end users of pigments globally. Pigments are important components that are used in paints, coatings, plastics, inks, and other applications primarily to add color, opacity, and protective properties. The paint and coatings industry consumes a variety of pigments including titanium dioxide, carbon black, iron oxides, chrome pigments and others. Pigments help determine the key properties of paints including viscosity, fineness of grind, opacity, color development and tinting strength. Hence, as the paints industry expands, it contributes to the increasing consumption of pigments globally.
Rising Demand for Plastics Industry
- The plastics industry has emerged as one of the major end-use sectors globally driving the growth of the pigments market. Plastic materials have extensively replaced traditional materials in myriad applications due to their advantageous properties such as low cost, lightweight, durability, resistance to moisture and chemicals. Pigments play a pivotal role in plastic formulations by adding visual appeal and mechanical properties. They help impart color to clear plastic resins and compounds, provide UV stability, reduce gloss, enhance opacity, and also act as reinforcements in some cases.
Restraints
Strict Environmental Regulations
- Stringent environmental regulations implemented across many countries are posing a major challenge for the growth of the global pigments market. Many types of pigments used in industries like paints, coatings, plastics contain heavy metals and other toxic chemicals that can harm the environment if not handled or disposed of properly. Regulations enforced by environmental agencies now have much lower tolerance limits for the use of hazardous substances in pigments.
High Expense of Production
- High production costs may be a big restraining factor to the wider diffusion of more sustainable and natural dyes within the pigments market. Extraction, processing, and manufacturing from plants, algae, or other organic raw materials involve costly technologies with resource intensive processing steps. In addition to scalability and consistency, environmental advantages also contribute to the added cost of such bio-based dyes.
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Pigments Market Competitive Landscape
The pigments market is characterized by a competitive landscape that is shaped by various factors, including technological advancements, demand for sustainability, and the need for high-quality end products across multiple industries. Companies operating in this market are constantly innovating and adopting new technologies to improve their product offerings and meet the needs of diverse applications such as automotive, plastics, coatings, and textiles. The competition is intense, with key players striving to expand their market share and enhance their brand presence globally. As consumer preferences increasingly lean towards environmentally friendly and high-performance solutions, market participants are required to adapt and refine their strategies to maintain a competitive edge.
Top Player’s Company Profile
- AkzoNobel (Netherlands)
- Sachtleben Chemie (Germany) (Venator)
- Americhem (United States)
- Sennelier (France)
- Rhodia (France)
- Glidden (United States) (PPG Industries)
- BASF (Germany)
- Clariant (Switzerland)
- DIC Corporation (Japan)
- Ferro Corporation (United States)
- Heubach GmbH (Germany)
- Kronos Worldwide (United States)
- Lanxess (Germany)
- Merck Group (Germany)
- Shepherd Color Company (United States)
- Sun Chemical (United States) (DIC Corporation)
- Tronox Limited (United States)
- Venator Materials (United States)
- Altana AG (Germany)
- Cabot Corporation (United States)
Recent Developments
- In June 2024, JK Group and MS Printing Solutions displayed their digital pigment solutions, including the Kiian Pigment 4K patent-pending digital pigment inks, MS JP7 scanning printing machine, and Color Pack color management software at the ITM.
- In April 2024, Nature Coatings introduced a novel bio-based pigment called BioBlack that transformed the coatings industry.
- In April 2024, Former Wall Street trader Ada Hsieh launched Fluency Beauty, which is commonly available in biodegradable packaging with pigments made 100% from plants.
Pigments Key Market Trends
- Increasing Demand for Eco-Friendly Pigments: Developing eco-friendly pigments provides a huge opportunity for growth in the global pigments market. With increasing awareness about environmental protection, consumers and industries alike are looking for more sustainable alternatives. Pigments produced from organic and natural sources can fulfill this demand while reducing toxicity. Many companies are innovating in this area.
- Advent of Nanotechnology in Pigment Development Procedure: Technological breakthrough in the development of nanomaterials has opened new avenues for advancements in several industries. Nanotechnology is being extensively applied in the pigments industry. Nano-sized inorganic pigments are gaining traction in various industrial applications, owing to their superior performance than conventional pigments. Adoption of nanotechnology in the production of pigments improves their tribological coating, mechanical, and optical properties.
Pigments Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rapid urbanization and the subsequent growth in the construction sector are augmenting the global pigments market. Infrastructure development across the globe is expected to boost the demand for paints and coatings in the construction sector. Increase in the production of automobiles and rise in the demand for industrial paints are also expected to contribute to the growth of pigments market during the forecast period. Key players operating in the market are investing significantly in the R&D of high-quality products that are less harmful to the environment. They are also diversifying their businesses by manufacturing organic, bio-based pigments, and specialty pigments to stay competitive in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 28.6 billion |
| Market size value in 2032 | USD 49.56 billion |
| Growth Rate | 6.3% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Pigments Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Pigments Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Pigments Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Pigments Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pigments Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Pigments Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Pigments Market Report Snapshots
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