The synthetic pigments market proficiently consists of the sales of synthetic pigments and related services that is effectively utilized in the field of paints, inks, plastics encompassing insoluble materials and minerals to withstand high heat, intense light and introduction to weather or chemical agents.
The worldwide synthetic pigments
market was worth USD 27.55 billion in 2019. It is projected to grow at a
compound annual growth rate (CAGR) of 11% and reach USD 40.84 billion by 2023.
Whereas, the synthetic pigments market has been geographically ivided into
North America, Western Europe, Asia-Pacific, Eastern Europe, South America and
Middle East & Africa. During 2019, Asia Pacific registers for nearly 45% of
the market.
The requirement for high
performance pigments and advanced technology engineered pigments likewise cool
pigments, nano pigments and pigments made from greater dispersion technologies
is projected to propel the synthetic pigments market. These fresh and advanced
pigments have the competence to furnish to the fast-increasing novel end-utilized
industries and technologies such as 3D-printing, automotive industry, and
several others. For instance, in 2017, DIC Corporation, a Japan-based chemical
established launched Sunbrite Yellow 74, an azo based great performance pigment
in the market. Effective performance pigments are becoming more inexpensive and
their market share is expected to increase speedily.
During the recent time, there has
been an augmenting migration of producing capacities from the West to low-cost
regions in the Asia-Pacific region. This is majorly due to stringent
environmental compliance across Europe and North America. Gradually maturing
introduction technologies and the existence of robust downstream customer bases
within regions such as China and India have been influencing the requirement
for pigments in these regions in recent years. Examples of corporates that have
moved their manufacturing amenities to the Asia region are Huntsman Corp,
DyStar and Clariant.
DIC Corporation, a Japanese
chemical establish is set to obtain BASF a German based chemical corporates for
USD 1.27 billion (Euro 1.15 billion) on cash and debt-free basis. Acquisition
of BASF will reinforce DIC Corporation in worldwide pigments business. BASF, a
greatest producer of chemicals, well known for portfolio in sectors such as
chemicals, materials, industrial solutions, surface technologies, nutrition
& care and agricultural solutions. Therefore, in the near years, it is
predicted that the market of synthetic pigments will increase around the globe
more effectively over the inflowing years.
For More Information, Click on the Link Below:-
Global
Synthetic Pigments Market
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
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