The Unforeseen Surge: Exploring the Explosive Growth of the Inorganic Pigments Market Valued at $53.4 Billion

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2023-08-18 16:05:02

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Inorganic Pigments Market Size to Hit USD 53.4 billion

Global Market for Inorganic Pigments to Reach USD 53.4 billion by 2031

According to Transparency Market Research Inc., the global market for inorganic pigments is projected to grow at a rapid rate of 9.9% CAGR from 2023 to 2031, reaching a valuation of USD 53.4 billion by 2031.

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Key Players in the Global Inorganic Pigments Market

Major players in the inorganic pigments market include BASF, DuPont, Clariant, Sun Chemical, Lanxess, Venator, Tronox Limited, Kronos Worldwide, Inc., and Cathay Industries.

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Recent Developments

• BTC Europe: BASF’s European distribution company, BTC Europe, signed a distribution contract in 2023 for inorganic, organic, and effect pigments. The aim is to provide customers with a wide range of premium pigments for various sectors.

Factors Driving Market Growth

• Packaging Sector: The increasing demand for food, beverages, and consumer goods has led to the rapid growth of the packaging sector. Inorganic pigments are essential for coloring plastics used in packaging materials.
• Automotive Sector: The rising demand for automobiles and trucks is fueling the growth of the automotive industry. Inorganic pigments are used to color plastics used in vehicle parts.
• Consumer Products Sector: The increasing need for food packaging, personal care items, and home goods is supporting the growth of the consumer products sector. Inorganic pigments are crucial for coloring plastics used in these products.

Key Findings

• Paints and coatings use inorganic pigments for opacity, color, and durability.
• Demand for inorganic pigments is rising due to increased demand for paints and coatings in various sectors.
• The titanium dioxide market segment holds the majority of the global market share for inorganic pigments.

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Market Trends for Inorganic Pigments

• The titanium dioxide market segment holds a significant market share for inorganic pigments. It is widely used in paints and coatings, paper, plastics, and cosmetics.
• Titanium dioxide is extensively used in paints and coatings to provide opacity, whiteness, and durability.

Inorganic Pigments Regional Market Outlook

• Asia Pacific was one of the lucrative markets for inorganic pigments in 2022, driven by demand from the electronics and paints industries.
• Countries like Japan, South Korea, China, and India play a significant role in the inorganic pigments market in Asia Pacific.

Global Inorganic Pigments Market Segmentation

• Type:
  • Titanium Dioxide
  • Iron Oxide
  • Carbon Black
  • Others
• Application:
  • Paints
  • Plastics
  • Inks
  • Ceramics
  • Glass
  • Others
• Region:
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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About Transparency Market Research

Transparency Market Research is a leading provider of market research reports. Our data repository is continuously updated and revised by a team of research experts to reflect the latest trends and information.

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