The global inorganic pigments market is expected to witness significant growth owing to increasing use in the construction and paint industries. Urbanization and rapid growth in construction activities particularly in emerging economies pose as key drives for the market. In addition, the growing use of inorganic pigments as colorants in the plastic industry also contributes to market growth. Raw material price volatility and toxicity associated with inorganic pigments due to the presence of pose as key restraints for the inorganic pigment market. In addition, low tinting strength and low brightness as compared to organic pigments restrict market growth.
Inorganic pigments are segmented as natural inorganic pigments and synthetic inorganic pigments. Titanium dioxide, iron oxide, cadmium, and lead chromate dominate the inorganic pigments market owing to its widespread use in films, construction coatings, and plastic industries. Larger particle size compared to organic pigments offer higher resistivity to pigment bleeding, rust, rigidity, and abrasion. Inorganic pigments are primarily used to produce paints & coatings, printing inks, and dyes. In addition, they are used in ceramics, glass, and paper industry owing to its transparent nature. Paints & coatings held the majority share followed by printing inks and dyes. Dyes are expected to be the fastest-growing segment owing to increasing use in the textile industry.
Inorganic pigments markets are recovering gradually after the decline during the economic downturn from 2008 to 2009. Asia Pacific accounts for more than 50% of the global consumption of inorganic pigments. Rapid industrialization and growing infrastructure development are expected to be factors contributing to growth, particularly in China, India, and Indonesia. North America is expected to witness a steady growth owing to large exports particularly to China, Germany, Japan, and Belgium. Europe is expected to witness sluggish growth owing to a decline in infrastructure activities. Middle East & Africa is expected to grow significantly owing to large construction projects particularly in Qatar, Nigeria, and Saudi Arabia.
Major producers of the inorganic pigments market include E. I. du Pont de Nemours and Company, LANXESS AG, Ferro Corporation GmbH, Rockwood, BASF SE, and Huntsman International LLC which cater to major markets such as China, India, U.S., and Western European countries.
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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.