Global Inorganic color Pigments Market Size, Share & Trends Analysis Report, by Product, by Form, by Application, By Region Forecasts, 2023 - 2030

Global Inorganic color Pigments Market Size, Share & Trends Analysis Report, by Product, by Form, by Application, By Region Forecasts, 2023 - 2030

Global Inorganic color Pigments Market was valued at US $ 3.4 Billion in 2022 and is expected to reach US $ 4.4 Billion by 2030 growing at a CAGR of 3.4% during the forecast period 2023 – 2030.

The production, application, and distribution of pigments generated from inorganic compounds are the main areas of concentration for the inorganic colour pigment market, which is a separate sector of the chemical industry. These pigments are essential colouring agents that improve both the appearance and performance of a wide range of materials and goods, including paints, coatings, plastics, ceramics, textiles, printing inks, and cosmetics. Among the most notable qualities of inorganic colour pigments are their wide variety of vivid hues, remarkable lightfastness, stability, and resilience to environmental factors like UV rays, weather, and chemical exposure. This market is essential to many industries where consistent and durable colour supply is a critical need, which makes inorganic colour pigments a necessary part of many functional and aesthetic applications.

The market for inorganic colour pigment is being driven by the emphasis on improved aesthetics in a number of industries, including construction, automotive, medical, and cosmetics. This trend is further supported by the realisation that aesthetics have a big influence on consumer decisions. The rich and seductive colours provided by inorganic colour pigments are essential in making items more aesthetically appealing in sectors like construction and automobile, where consumers' decisions are often influenced by visual appeal. In industries such as cosmetics and medical applications, aesthetics play a crucial role in relation to safety, product differentiation, and brand identity. Companies use inorganic colour pigments' adaptability to make unique and visually appealing items that stand out in competitive markets and draw in customers. For instance, consumer spending on beauty items has increased, leading to a comeback in the cosmetics business. The rise in the cosmetics industry is ascribed to the influx of Gen Y and Gen Z workers, especially in the US, which is one of the biggest global markets for cosmetics, with a total sales of USD 48.26 billion in 2021.

“Iron Oxide Pigments segment, by product, to be dominating market from 2023 to 2030.”

With a huge share of more than 57.43% of the global revenue in 2022, the iron oxide category emerged as the market leader. The segment is expected to grow over the course of the projected period, mainly due to the growing demand from the paints and coatings industry. For the most part, people prefer iron oxide over natural colours because of its higher quality and purity. These iron oxide pigments also perform very well in terms of delivering exceptional qualities like fire, heat, and weather resistance, making them ideal for a wide range of paints and coatings used in industrial, automotive, and architectural settings.

“Powder segment, by form, to be dominating market from 2023 to 2030.”

As of 2022, the inorganic colour pigments market is dominated by powder form, accounting for around 62.46% of the global market share. Powder pigments are preferred because they are convenient to handle and transport, and they may be used to create a broad range of colours and characteristics. They are used in many different industries, including as plastics, paints & coatings, printing inks, and building supplies. Conversely, the inorganic colour pigments market's fastest-growing segment is the aqueous form, which is expected to develop at a compound annual growth rate (CAGR) of more than 5.9% during the forecast period. Because of their water solubility, aqueous pigments are typically utilised in water-based paints and coatings. Because of their less harmful effects and low emissions of volatile organic compounds (VOCs), these pigments are becoming more and more well-liked. Additionally,

“Paints and Coatings segment, by application, to be dominating market from 2023 to 2030.”

Paints & coatings held a strong position in the market, accounting for over 46.67% of the worldwide revenue share in 2022. This significant market presence is due to the growing need for paints and coatings in a number of industries, such as general industry, automotive, and construction. In this industry, inorganic colour pigments are essential, especially when it comes to industrial and external coatings, where qualities like stability, durability, and corrosion resistance are critical. Over the course of the forecast period, the growing need for coatings in a variety of industries, including construction, oil and gas, and more, is anticipated to have a positive impact on the market for inorganic colour pigments.

“Asia Pacific to be largest region in Inorganic color Pigments market.”

In 2022, the Asia Pacific region gained significant market share, accounting for over 36% of total sales. This impressive performance is ascribed to the bright futures in the plastics, paints, and coatings industries in China, India, Japan, and South Korea, which are anticipated to propel the use of inorganic colour pigments over the course of the projected period. In addition, the region enjoys easier access to raw materials and laxer regulations regarding emissions of volatile organic compounds (VOCs) than do North America and Europe. These factors create significant opportunities for the use of plastics, paints, and coatings in a variety of industries, such as manufacturing, automotive, marine, and construction. The region's strong economic expansion, particularly in economically significant nations like China and India, has increased consumer demand for a wide range of goods that contain these pigments. APAC's rapid urbanisation has increased demand for coloured paints, coatings, and building supplies. For the area, having access to essential raw materials has been beneficial in terms of cost-effective production. APAC has become a more favourable region for sectors that depend on inorganic colour pigments due to relatively laxer environmental laws, especially with regard to emissions of volatile organic compounds (VOCs).

Inorganic color Pigments Competitive Landscape

The competitive landscape of the Inorganic color Pigments market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Inorganic color Pigments technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Inorganic color Pigments market is highly competitive, with numerous companies vying for market share. Prominent companies in the Inorganic color Pigments Market include:

Venator Materials, Tronox Holdings Plc, The Chemours Company, BASF SE, LANXESS, Ferro Corporation, Clariant, KRONOS Worldwide, Inc., Heubach GmbH, DIC Corporation, Lomon Billions, Carl Schlenk AG, Cabot Corporation, Dominion Colour Corporation, ECKART GmbH, DyStar, INEOS Pigments, Matapel Chemicals, Jiangsu Yuxing Industry & Trade Co., Ltd., Tasnee, and others.

Recent Developments:

In February 2024, LANXESS, showcased its wide range of products for the paint and coatings sector at the Paint India show held at the Bombay Exhibition Centre in Goregaon, Mumbai. Three business units, Material Production Products (MPP), Inorganic Pigments (IPG), and Polymer Additives (PLA), representes LANXESS.