The global cadmium pigments market is expected to grow over the forecast period owing to widespread applications in industrial paints, on account of its high temperature resistance. Lack of substitutes for cadmium pigments due to uncommon physical and chemical properties is also anticipated to drive the market. Owing to its properties such as high chemical inertness and resistance to high temperatures it is applied to steam pipes and containers. Cadmium pigments are integrated into latex and acrylic coatings. This is also anticipated to propel the market over the forecast period. Polymers easily disperse the pigments thus providing superior qualities such as high opacity, tinting strength, and superior coloring. Colorfastness of cadmium pigments is admirable and also long-lasting, which is expected to augment the market over the next seven years. They are extensively used in thermoplastic polymers due to their resistance to high temperatures and this is expected to propel cadmium market growth over the forecast period.
Interaction of cadmium pigments with the human body has ill effects on various parts of the body such as lungs and kidneys. Due to this, stringent regulations are being implemented on its use in various plastic products. This factor is expected to hinder cadmium market growth over the forecast period. Volatile raw material prices are also anticipated to hamper the market growth.
The major application of cadmium pigments is in the plastic sector, as they are insoluble and have resistance to alkalis, which accounts for good life of the plastic. After plastics, cadmium pigments are extensively applied in batteries. Cadmium pigments are also utilized for improving the corrosion resistance of various metals such as iron steel, aluminum, and titanium on account of its significant chemical properties. Increasing cadmium pigments usage in coatings, stabilizers, specialized alloys, and electronic compounds is expected to drive the cadmium pigments market over the forecast period. Cadmium pigmented engineering polymers are applied in electricity cables, gas pipes, and fittings, beverage crates, motor vehicle radiator fans, etc. It has certain minor uses as well such as in the production of rubber, paper, and inks. These industries account for less consumption of cadmium pigments as compared to other applications. Unique properties of cadmium pigments such as resistance to high processing and service temperatures make them preferable for ceramic glazes, porcelain, and vitreous enamels. They are also employed to manufacture decorative glasses.
Asia Pacific is expected to be the largest market over the forecast period. Huge cadmium pigments demand from countries such as India, China, and Japan is expected to augment the market over the forecast period. Asia Pacific demand is expected to grow over the next seven years on account of its increasing application in batteries mostly in Japan and China. North America is expected to witness stagnant growth over the forecast period. Europe is anticipated to have a negative impact on cadmium pigments market growth due to stringent regulations on its usage considering its hazardous impacts on humans and the environment. In the next seven years, China is expected to be the largest market in the region, thus expanding the Asia Pacific market. After China India, Russia and Brazil are anticipated to account for the largest market share over the forecast period.
Market players are indulged in R&D activities for bio-based cadmium pigments production. This is expected to fuel market growth in Europe, due to its compliance with stringent regulations regarding environmental degradation. Market participants are trying to enter less penetrated markets such as Middle East & Africa, which is also expected to drive the cadmium pigments market growth over the forecast period. Key Players are also exploring new applications to increase product demand in the next seven years. Major market players operating in the market are Rockwood Pigments NA Inc., Hunan Jufa Technology Co. Ltd., and JMB Ltd.
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The prevailing pandemic situation has led to weakened demand for paints and coatings in automotive, construction, electronics, and white goods. The path to recovery of growth for the industry is highly dependent on the duration of restrictions imposed and their influence on economic activity across the globe. Contrary to the trend prevalent in the industry in general, certain segments of the market such as antimicrobial coatings are witnessing a surge in demand in healthcare and food industries. The report will account for Covid19 as a key market contributor.