This report describes and assesses the global synthetic pigments market. It covers three five-year periods including 2015 to -2020, called historical period, forecast period 2020-2025 and 2025-2030 another forecast period.
LONDON, September 29, 2021 (GLOBE NEWSWIRE) – According to The Business Research Company’s research report on the Synthetic Pigments Market, the global synthetic pigments market size is expected to increase from $ 37.03 billion in 2020 To $ 40.07 billion in 2021 at a compound annual growth rate (TCCA) of 8.2%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges.
In the future, increasing demand for high performance pigments and strong demand from end user industries will drive growth. The market is expected to reach $ 45.95 billion in 2025 To 3% CAGR.
The synthetic pigments market is segmented by product type in organic pigments and inorganic pigments. The inorganic pigments the market was largest segment of the synthetic pigments market segmented by product type, representing 65% of the total in 2020. Going forward, the inorganic pigments the market should be the fastest growing segment in the synthetic pigments market segmented by product type, at a 5.9% CAGR in 2020-2025.
The synthetic pigments market is segmented by end-use industry in paints and coatings, plastics, printing inks, textiles, cosmetics and personal care, and other industries. The paints and coatings the market was largest segment synthetic pigments market segmented by end-use industry, representing 53.2% of the total in 2020. Going forward, the paints and coatings segment should be the fastest growing segment in the synthetic pigments market segmented by end-use industry, at a 6.2% CAGR in 2020-2025.
The best opportunities in the segmented synthetic pigments market by product type will arise in the segment of inorganic pigments, who will win $ 7,732.8 million annual worldwide sales by 2025. The best opportunities in the segment by end-use industry will arise in the paints and coatings segment, who will win $ 6,679.2 million global annual sales by 2025. Synthetic pigments market size to grow the most Germany To $ 837.8 million.
The Business Research Company report titled Global Synthetic Pigments Market Report 2021 – By Product Type (Inorganic Pigments, Organic Pigments), By End Use Industry (Paints and Coatings, Plastics, Printing Inks, Textiles, Cosmetics and Personal Care), Impact COVID-19 And Recovery covers major Synthetic Pigments Companies, Synthetic Pigments Market Share by Company, Synthetic Pigments Manufacturers, Synthetic Pigments Market Size, and Pigments Market Forecast synthetic. The report also covers the global synthetic pigments market and its segments.
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The synthetic pigments market is fairly concentrated, with a small number of players. The the ten best competitors on the market composed of 33.38% of the total market in 2020. The market is very competitive. Companies in the synthetic pigments market compete with each other mainly on the basis of product price, quality, technical service and availability of products of different qualities.
The Chemours Company was the biggest competitor with 6.69% market, followed by Tronox Holdings plc with 6.06%, BASF SE with 4.80%, Kronos Worldwide, Inc. with 4.56%, Venator Materials PLC with 4.34%, Lanxess AG with 1.97%, Clariant with 1.89%, Merck Group with 1.22%, Altana AG with 0.93% and DIC Corporation with 0.91%.
Strategies adopted by players in the synthetic pigments industry include expanding commercial presence through the development of advanced, innovative and improvised chemically treated pigments for specific applications, expanding operational capabilities through strategic acquisitions, expansion of production facilities and development of advanced pigments; and expansion of operational presence in geographic development through strategic sales and distribution partnerships.
Western Europe was the larger region in the synthetic pigments market, representing 32.1% of the total in 2020. It was followed by Asia-Pacific, then the other regions. In the future, the fastest growing regions in the synthetic pigments market will be Africa and the Middle East where growth will be at CAGR of 8.5% and 7.9% respectively. These will be followed by South America and Eastern Europe, where the markets are expected to grow at CAGRs of 6.3% and 5.2% respectively.
Global Synthetic Pigments Market Report 2021 – COVID-19 Impact And Recovery is part of a series of new reports from The Business Research Company that provide market overviews, analyze, and forecast the market size and growth for the Whole market, segments and geographies, trends, drivers, restraints, revenues, profiles and market shares of major competitors in over 1,000 industry reports, covering over 2,500 market segments and 60 geographic areas. The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are backed by 150,000 datasets, in-depth secondary research, and proprietary information from interviews with industry leaders. A team of highly experienced and expert analysts and modelers provide market analysis and forecast. The reports identify major countries and segments for opportunities and strategies based on market trends and approaches of major competitors.
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