The Europe Pigments Market size is estimated at USD 6.02 billion in 2024, and is expected to reach USD 7.57 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
In Europe, countries like Italy and the United Kingdom were worst hit by the COVID-19 pandemic, which negatively affected the market. Paints, coatings and textiles manufacturing activities were temporarily halted due to the pandemic, which decreased the usage of pigments. However, the market recovered well after the restrictions were lifted. The market recovered significantly, owing to the rise in consumption of pigments in paints and coatings, textiles, and printing ink applications.
Over the short term, growing demand from the paints and coatings industry, increasing demand from the textile industry, and the increasing usage of organic pigments in the printing ink industry are expected to drive the market.
The stringent government regulations on the usage of pigments are hindering market growth.
The shifting focus toward eco-friendly products and rising demand for reliable commercial products, like 3D printing material, are expected to create opportunities for the market during the forecast period.
Germany is expected to dominate the market due to the rising demand for pigments in paints, coatings, and textiles applications. It is also expected to register the highest CAGR during the forecast period.
Europe's pigments market is consolidated in nature. Some of the key players in the market (not in any particular order) include BASF SE, DIC Corporation, LANXESS, Merck KGaA, and The Chemours Company.
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