April 18, 2023 09:51 ET | Source: ReportLinker ReportLinker
New York, April 18, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Inorganic Pigments Global Market Report 2023" - https://www.reportlinker.com/p06320095/?utm_source=GNW Ltd., VOXCO India, Musclerox, Ultramarine & Pigments Limited, Qualitron Chemicals, Paramount Colors and Sona Synthetics Products. The global inorganic pigments market grew from $22.84 billion in 2022 to $25.12 billion in 2023 at a compound annual growth rate (CAGR) of 9.97%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The inorganic pigments market is expected to grow to $36.01 billion in 2027 at a CAGR of 9.42%. The inorganic pigments market consists of sales of lead oxide and cobalt blue.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The inorganic pigments refer to coloring material sourced from natural minerals or ores, such as oxides, sulfurides, or different metallic slats. The inorganic pigment is useful in coloring rubber, plastics, glass, ceramics, and architectural coatings. Asia- Pacific was the largest region in the inorganic pigments market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in inorganic pigments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The main types of products of inorganic pigments include natural inorganic pigments and synthetic inorganic pigments.Natural inorganic pigments refer to the pigments extracted from the earth’s surface in their natural states, such as ochers, umbers, and others. Iron oxide and hydroxide are the substances that provide color to the pigments. They are of carbon black, chromium oxide, iron oxide, titanium dioxide, others and are applied on plastics, paints and coatings, printing inks, glass and ceramics, cosmetics, paper industry, pharmaceuticals, food industry. The growth in construction activities drives the inorganic pigments market.Construction has been on the rise due to rapid industrialization and urbanization. Inorganic pigments are essential constituents in paints and coatings used in the buildings and other construction equipment to impart color so that exterior durability is maintained. According to the U.S. Census Bureau report on monthly construction spending in 2022, the construction spending was expected to be $1,744.8 billion in April 2022, a 0.8% rise from the revised March estimate of $1,740.6 billion. Therefore, the increasing spending on construction is driving the growth of the inorganic pigments market. Product innovation is the key trend in the inorganic pigments market.Companies in the inorganic pigment market are focusing on product innovations to strengthen their position in the market. It involves introducing dispersing agents, ultra-low moisture pigment, lead-free coatings, and others.For instance, in June 2022, Clariant, a Switzerland-based manufacturer of specialty chemicals, launched its first universal polymeric dispersing agent for high-quality pigment preparations that can incorporate organic and inorganic pigments and can be used in all water-based paint systems. Furthermore, waterborne pigment preparations containing Dispersogen Flex 100 may be compatible with solvent-borne base paint systems. The new universal solution provides an innovative, multifunctional, and simple-to-use additive to pigment paste producers and paint producers who also produce pigment pastes. In June 2021, DIC Corporation, a Japan-based chemicals company specializing in the development, production, and marketing of biochemicals, specialty plastics and compounds, inks, pigments, polymers, and specialty plastics, acquired BASF’s global pigments business, known as BASF Colors & Effects (BCE) for an undisclosed amount.This acquisition will combine the two firms’ complementary product, manufacturing, supply chain, and customer service portfolios to provide customers with more adaptable solutions. BASF Colors & Effects (BCE) is a Germany-based company that offers colorants and pigments. The countries covered in the inorganic pigments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The inorganic pigments market research report is one of a series of new reports that provides inorganic pigments market statistics, including Inorganic pigments industry global market size, regional shares, competitors with a inorganic pigments market share, detailed inorganic pigments market segments, market trends and opportunities, and any further data you may need to thrive in the inorganic pigments industry. These inorganic pigments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. Read the full report: https://www.reportlinker.com/p06320095/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Pigment Paste
