According to estimates, the global market for coating pigments will account for 40% of the global industrial coating market’s total market value in 2021. By 2032, it is anticipated to have grown at a 5.5% CAGR and be worth USD 41.9 billion. Additionally, between 2022 and 2032, it is anticipated to present an absolute monetary opportunity of USD 18.6 billion.
The second-largest market in the world for coating pigments is in North America. With a growth rate of 3.2% CAGR over the past five years, it has accumulated more than one-fifth of the market share in the global coating pigments industry.
Download a Sample Copy of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=2402?PS
What Factors are contributing to the Growth of the Coating Pigments Market?
- Increasing demand for decorative and protective coating systems: The demand for decorative and protective coating systems is increasing due to the growing construction and automotive industries. These coatings protect the surface of buildings, vehicles, and other products from corrosion, weathering, and other damaging factors. The use of coating pigments helps to enhance the physical properties and visual appeal of the paints and coatings.
- Rising demand for eco-friendly pigments: The demand for eco-friendly pigments is increasing due to stringent regulations on the use of hazardous pigments. Eco-friendly pigments are non-toxic, non-carcinogenic, and biodegradable, making them increasingly popular among end-users.
- Technological advancements in coating pigments: Technological advancements have enabled the development of advanced pigments such as photochromic pigments, luminescent pigments, and thermochromic pigments. These advanced pigments are widely used in various industries due to their superior performance.
- Growing demand from emerging economies: The coating pigments market is growing at a rapid rate in emerging economies such as India, China, Brazil, Mexico, and South Africa due to the increasing demand for decorative and protective coatings
Key Companies Profiled
- PPG INDUSTRIES INC.
- THE Sherwin Williams Company
- DuPont Inc.
- Akzo Nobel N.V.
- BASF SE
- Axalta Coating Systems Ltd.
- Kansai Paint Co., ltd.
- Hempel A/S
- Nippon Paints Holding Co., ltd.
- Jotun Group
- NOF Coatings Pigment Group
- Alucoil
- United Metal Coating LLC
- Jinhu Color Powder Coating Co., ltd.
- The Magni Group, Inc.
Get Customization on this Report: https://www.factmr.com/connectus/sample?flag=RC&rep_id=2402?PS
Important businesses are introducing new technologies to improve the functionality and effectiveness of the coating pigments. The need for coating pigments is increasing as a result of organic coating pigments. Manufacturers have been drawn to organic coating pigments with better performance for sustainable products.
It has been noted that coating solvent compositions have evolved with the goal of producing better results. The market for coating pigments is also expanding as a result of trendy coating pigment qualities including colour variety and effective binding properties. The use of advanced coating pigments is projected to increase throughout the estimated forecast period as a result of the launch of the new coating solvents.
Key Questions Covered in the Coating Pigments Market Report
- How key market players in the Coating Pigments market are maintaining their competitive advantage in the wake of globalization?
- What changing market dynamics in the Coating Pigments market specify about the future opportunities for manufacturers?
- How Covid-19 pandemic affected sales in the Coating Pigments market and what strategies are expected to recover from its impact?
- What business tactics are gaining attention and influencing Coating Pigments’ market rivalry?
Get Full Access of Complete Report: https://www.factmr.com/checkout/2402
Contact:
Us Sales Office :
11140 Rockville Pike
Suite 400
Rockville, Md 20852
United States
Tel: +1 (628) 251-1583
E-Mail: [email protected]