Overview of Global Plastic Pigments Market Size, Share, and Growth Forecast for 2023-28
The report aims to provide a comprehensive perspective on the Global Plastic Pigments Market : Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028. It offers an industry overview, including an analysis of historical and future market growth. Key parameters such as revenue, demand, and applicable supply data are highlighted. The study offers regional estimates, forecasts, and trend analyses for various countries.
Report's Study Period:
- Historical period: 2018 – 2021
- Base Year: 2022
- Forecasting period: 2023 – 2028
Insights and Analysis of the Global Plastic Pigments Market for the Period 2023-2028:
The Global Plastic Pigments Market is projected to grow at a CAGR of around 6.9% during the forecast period, i.e., 2023-28, due to the expanding automotive industry. These pigments are the colorants that are used to provide colors to the plastics and come in both liquid powder formats. In automotive, lightweight durable materials are high in demand as they can help in improving fuel efficiency enables better performance. Plastic-based automotive parts such as the bumper dashboard require these pigments to make the overall look of the vehicle different attractive. There is a growing inclination towards electric vehicles among consumers, as a result, the demand for e-vehicles is gradually growing, further propelling the need for these pigments in the coming years.
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Global Plastic Pigments Market Dynamic:
Rising Construction Sector to Positively Augment the Demand - The construction industry has been a significant contributor to the growth of the Plastic Pigments market, as plastic materials such as PVC, polyethylene, and polypropylene are widely used in the construction of various products like pipes, windows, and doors. They are used to provide color UV resistance to these products.
Furthermore, many countries, such as the UAE, Qatar, Saudi Arabia, Singapore, India, etc., are investing in tourism infrastructure, including hotels, resorts, theme parks, etc., to support economic growth development. This has led to an upsurge in construction activity in many countries would contribute to the market growth during the forecast period. Further, the rising construction of residential buildings is positively impacting the market. Moreover, the new buildings require the fittings of PVC pipes, window panels, roofing, and other plastic-based structures. Hence, this, in turn, requires such pigments to provide color aesthetic looks to the plastic. For instance:
- In 2022, Aldar Properties, Dubai, announced its new residential project with a capacity of nearly 2000 apartments. The project is expected to be open in 2023.
The new housing buildings also generate the demand for durable furnishing articles made of plastic, such as chairs, tables, and shelves. This, again, would result in increased use of plastic pigments to give a decorative look to these articles, thus positively impacting the market during the forecast period.
Segmentation Analysis of the Plastic Pigments Market for the Period 2023-2028:
Our team of analysts has carefully studied the market using various methods and calculations to create a detailed analysis. We've broken down the market into different sections and thoroughly examined each one. This in-depth exploration has helped us identify the standout performing segment in each section by closely examining various aspects of the market.
We have delved into the factors and trends driving increased activity in these specific segments. Additionally, we have identified the main market participants who are actively involved in these segments, giving us a complete understanding of their unique characteristics. Our study also includes a comprehensive view of the market's structural expansion, offering a clear framework to understand how it has evolved.
- By Type
- Phthalocyanine Pigmentss
- High-Performance Pigmentss
- Titanium Dioxide
- Iron Oxide Pigmentss
- Chromium Oxide
- Carbon Black
- Cadmium Pigmentss
- By End User
- Food Beverage Packaging
- Consumer Goods Packaging
- Healthcare Pharmaceutical Packaging
- Building Construction
- Consumer Goods
- Others (Healthcare, Textiles, Electronics, etc.)
- By Region
- North America
- South America
- The Middle East Africa
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Leading Market Position in The Plastic Pigments Market
In analysing the Plastic Pigments Market, we conduct a thorough competitive benchmarking assessment involving key firms such as
- Venator Materials Plc
- DIC Corporation
- Ferro Corporation
- Cabot Corporation
- Kronos Worldwide Inc.
- Heubach GmbH
This evaluation entails a detailed review of each company's product value, capabilities, and notable attributes. Moreover, our study encompasses recent mergers, acquisitions, and product launches by these firms, aiming to offer stakeholders valuable insights into the prevailing market dynamics.
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Plastic Pigments Market Recent Development:
- 2022: Green Dot Bioplastic expanded its Terratek BD line with 9 types of compostable resins, to be used in plastic material. The expanded offering is in line with the company's intent to achieve quicker biodegradability rates in ambient conditions while meeting the growing sustainability demands of brand owners consumers.
The Plastic Pigments Market Research Report for 2023-28 addresses several key questions:
- How will the growth rate of the Plastic Pigments market progress during the projected period?
- What market factors will serve as the foundation for shaping client and business strategies?
- Which factors are currently exerting influence, including increased demand and ongoing market advancements?
- Among the studied market segments, which one’s present promising avenues for extended growth opportunities?
- Which company currently holds the leading market position?
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