Inorganic Pigments Market Size, Share, Growth, and Industry Analysis, By Type (Pigment Blue 28, Pigment Green 50, Pigment Blue 36, Pigment Yellow 53, Pigment Brown 24, Pigment Yellow 164 & Bismuth vanadate 184), By Application (Paints and Coatings, Plastics, Constructions, Paper and Specialty & Printing Inks), and Regional Forecast to 2032

INORGANIC PIGMENTS MARKET OVERVIEW

The global Inorganic Pigments market size was USD 18.630 billion in 2023 and is projected to touch USD 22.73 billion by 2032, exhibiting a CAGR of 2.0% during the forecast period.

The Inorganic Pigments Market involves the manufacture of mineral-based pigments that impart color to diverse products such as paints, coatings, plastics, and construction materials. Inorganic pigments have a high level of endurance that makes them to be lightfast and heat resistant, thus making them useful in industries. Some of the more familiar groups of inorganic esters are oxides, sulfides, and carbonates. The market is therefore being fueled by the need to get durable economic solutions to industries that are in dire need of coloration solutions.

GLOBAL CRISES IMPACTING INORGANIC PIGMENTS MARKET COVID-19 IMPACT

Inorganic Pigments Industry Had a Negative Effect Due to Decreased Demand in Several Industries during COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 outbreak had an adverse effect on the growth of the Inorganic Pigments Market because of a disturbed supply chain and halt in the major sectors such as construction, automotive, and manufacturing. Downfall in demand for many products that include pigments, factory shutdowns, and low investor interest dealt a great blow to the market. Further, problems in the area of logistics also contributed to shifting timelines regarding production and distribution. This led to a slowdown of market expansion during the pandemic period, as illustrated in the figure below.

LATEST TREND

"Market growth is driven by demand for eco-friendly and durable products"

The trends that prevail in the inorganic pigment market include the rising concern of governments and other organizations towards the usage of environmentally friendly pigments. One can distinguish a tendency to replace toxic heavy metal-containing pigments for new ones; these new pigments are very popular in residential paints and coatings. This is due to increased consciousness among the consumers regarding their health and safety of the environment. Furthermore, improvements made in the creation of pigments in order to increase the products’ sturdiness and functionality are defining the market trends.

INORGANIC PIGMENTS MARKET SEGMENTATION

BY TYPE

Based on Type, the global market can be categorized into Pigment Blue 28, Pigment Green 50, Pigment Blue 36, Pigment Yellow 53, Pigment Brown 24, Pigment Yellow 164 & Bismuth vanadate 184

• Pigment Blue 28: Pigment Blue 28, or cobalt aluminate, is an inorganic coloring agent that has high light fastness and heat-resistant ability and is mainly applied for ceramics and industrial coatings. They include that it provides good heat and light stability, making it appropriate where high temperatures are involved. It is also known for its bright blue color and appreciable chemical resistance.
• Pigment Green 50: Cobalt Chromite Green, with the alternate name of Pigment Green 50, is stable to chemical action and possesses a bright green color, which suits it for use in the plastics, paint, and ink industries. It is heat resistant, which makes it ideal for industries where coatings need to be hard-wearing. It is non-toxic, and this enhances its use in environmentally friendly processes for all other uses apart from medical.
• Pigment Blue 36: Cobalt Chromate, which is a very bright blue pigment with good weathering and heat fastness. In the plastics, paints, and coatings industries, it is widely used where the toughness of the material is desirable. This makes it ideal for use in areas or places that are exposed to light, such as unrestricted exterior applications.
• Pigment Yellow 53: This is Nickel Titanium Yellow with the color of dull yellow which offers high heat and lightfastness. It is non-reactive to water and has therefore found its uses in ceramics, plastics, and other specific coatings. It is widely used where some level of performance under harsh conditions is required of this pigment.
• Pigment Brown 24: Pigment Brown 24 or Chrome Antimony Titanium Brown is an inorganic pigment characterized by thermal and chemical stability. It is employed for high-end uses in coatings and plastics, where it delivers other stable brown shades in even the harshest settings. The reason for its vivid, non-transparent, and resistant to fading character is that it is in great demand in the automotive and architectural fields.
• Pigment Yellow 164: PY 164 belongs to the inorganic pigment line with a yellow color and excellent heat and light stability. It is commonly utilized in plastics applications, coatings, and any area of high chemical applications. It has bright and solid colors and is therefore widely used in car and exterior applications.
• Bismuth vanadate 184: Bismuth Vanadate 184 is yellow in shade with high brightness and covering power, one of the pigments to be replaced by lead chromates. It has great light resistance as well as weathering capabilities, thus being applied mainly in car paints, industrial coatings, and plastics. This characteristic is suitable with increasing consumer trends toward green products and suiting the needs of environmentally conscious manufacturers.

BY APPLICATION

Based on application, the global market can be categorized into Paints and Coatings, Plastics, Constructions, Paper and Specialty & Printing Inks

• Paints & Coatings: Inorganic pigments are popularly applied in the paints and coatings as they do not fade in color or decompose due to exposure to several conditions. They offer very good levels of obscuration, ultraviolet light resistance, and endurance in demanding environments, therefore meeting the needs of a variety of sectors that range from industrial to architectural to automotive. Such pigments with the ability to maintain color under adverse conditions make them ideal for protective coatings.
• Plastics: Inorganic pigments in plastics improve product appearance and performance, including stability of the color that can remain intense and unchangeable as well as high thermal stability. They are incorporated in a wide variety of plastic products for use in households, industrial, and commercial products since the two are chemically and heat resistant. These pigments also act as an enhancer to the UV stability of outdoor application in plastics.
• Constructions: Construction materials, which include concrete, roofing tiles, and paving stones, require the use of inorganic pigments to give long-lasting colors that are resistant to fading. It gives a good aesthetic finish and has excellent durability and weather resistance, thus making it particularly used in exterior applications. They are chemically stable to enable them to work in various climates as desired.
• Paper & Specialty: In the paper industry, inorganic pigments are used for enhancing whiteness, opacity, and brightness, especially in the higher category of the printing papers. Improved printing quality with high quality contrast of ink colors, and they are mostly applied in specialty papers such as packaging papers and labels. While their stability and non-toxicity reported before make them fit in various kinds of paper.
• Printing Inks: Printing inks have a high content of inorganic pigments that present excellent features of color fastness and resistance to fading. These pigments provide excellent performance and durability of prints on paper and board, including packaging materials and labels as well as in books and magazines, particularly in both industrial and outdoor usage. For this reason, they are perfect for printing on a variety of materials due to their heat and chemical resistance.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.                          

DRIVING FACTOR

"Market growth is driven by construction industry demand for durable Products"

A primary factor is the growth of the construction and infrastructure industries worldwide that have a significant impact on the Inorganic Pigments Market Growth. These industries mainly need stable and weather-resistant pigments for paints, coatings, and the construction industry to enhance their durability and beauty. Higher outlays for residential, commercial, and industrial development have a direct bearing on the need for high-quality inorganic pigments.

"Market growth is driven by demand for high-performance, eco-friendly products"

The demand is shifting more and more towards high-performance inorganic pigments, including better stability, durability, and resistance to external conditions. Besides, the global market for pigments is stimulated by the extended changes in environmental constraints and added consumer consciousness for environmentally sustainable pigments. Today, consumers demands go beyond pigment quality that is free from heavy metals; manufacturers are now targeting non-toxic and sustainable pigments.

RESTRAINING FACTOR

"Environmental regulations may slow market growth by increasing production costs"

Inorganic pigments are produced using chemicals and processes that are detrimental to the environment and hence the various regions’ measures to regulate the production. Satisfying these environmental laws has a negative effect on the cost of production and some of these pigments may not be used. This challenge may slow down the market growth in particular in regions that have strict environmental regulations.

OPPORTUNITY

"Market growth is driven by demand for sustainable, non-hazardous products"

Increasing demand for environmentally sensitive and sustainable products offers a huge opportunity for the inorganic pigment market. Currently, companies are turning their attention to creating non-hazardous pigments and those that can be reclaimed and reused. This trend towards sustainable goods should help grow the industry, especially the ones that come with new technologies such as paints, coatings, and plastics.

CHALLENGE

"Raw material cost fluctuations threaten market growth and profitability"

Prime issues affecting the inorganic pigments market include price fluctuation of the raw materials used in making the inorganic pigments, like titanium dioxide and other metal oxides. These singular variations in raw materials have significant implications on total costs of production as well as pricing standards of products in the market. This volatility can pose a major challenge to the prospects of the industry as well as the pigments’ ability to yield reasonable profits.

INORGANIC PIGMENTS MARKET REGIONAL INSIGHTS

• NORTH AMERICA

North America's market growth is driven by production and technology advancements

North America is expected to hold the largest Inorganic Pigments Market Share owing to the increased production facilities and long-term usage applications, including automotive, construction, and packaging. Especially, the United States plays a dominant role in the development of this area, with the “United States Inorganic Pigments Market” enjoying strong industrial performance and product advancement. Advancement in technologies and a vast number of consumer players provide the market even more boosting growth opportunities.

• EUROPE

Europe's market growth is driven by strict regulations and high-quality demands

Europe is the leading consumer of the inorganic pigments due to the well-established industrial sector and focus on the development of high-quality and long-lasting pigments for uses in different industries. Environmental rules and regulations are very strict in this area and this propels the manufacturers to look for more environmental friendly colors hence boosting the market. Also, beneficial requirements for inorganic pigments persist within Europe’s enhancing automobile, building and packaging industries.

• ASIA

Asia's market growth is driven by manufacturing demand and economic reforms

Asia is also a significant consumer to the inorganic pigments market because of the well-established manufacturing industries across the region in construction industries, automotive industries and consumer products. The factor that contributes to the high demand of pigments in the region is recorded in the up surging economic reform in several cities as well as the urbanization disparities. Furthermore, lower production cost and gradually rising investments in infrastructure segment add strength to Asia in inorganic pigments market.

KEY INDUSTRY PLAYERS

"Innovation and strategic expansions drive market growth through sustainable products"

Ongoing innovation, strategic mergers, and expansions remain some of the approaches that key industry players are using to press forward the inorganic pigments market growth dynamics. They will aim at synthesizing superior, environmentally sustainable pigments that comply with relevant legislation and the customer's trend. Thus, the development of new technologies and equipment to improve product performance as well as investment in research to expand the market presence provide long-term value to the overall growth and competitiveness of the industry.

LIST OF TOP INORGANIC PIGMENTS COMPANIES

• Ferro Corporation GmbH (Germany)
• The Shepherd Color Company (U.S.)
• Sanyam (India)
• HCC Group (India)
• Tokan Material Technology Co (Japan)

KEY INDUSTRY DEVELOPMENT

April, 2024: BASF introduced automotive coatings’ new “Iriotec” pigment line. This range has the metallic, pearlescent, and chameleon effects as far as colors and its application go; this range has the durability, weather resistance, and colorfastness benefits. The automotive coatings application of this innovation is expected to increase due to improved esthetics and performance of the inorganic pigments.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.