01.16.20
According to MarketsandMarkets' report "Inorganic Pigments Market by Pigment Type (Titanium Dioxide, Iron Oxide, Carbon Black), Application (Paints & Coatings, Plastics, Inks), End-Use Industry (Building & Construction, Automotive, Packaging, Textiles), Region - Global Forecast to 2024," the inorganic pigments market is expected to grow from $22 billion in 2019 to $28.3 billion by 2024, at a CAGR of 5.1%.
The major factors driving the inorganic pigments market include the growth of the global construction sector and the increasing significance of aesthetics in the packaging industry.
On the basis of pigment type, the inorganic pigments market has been segmented into four types, namely, titanium dioxide, iron oxide, carbon black, and others. Titanium dioxide is projected to lead the global inorganic pigments market during the forecast period. The demand for titanium dioxide is the highest due to its white color. Titanium dioxide is the world's primary pigment for providing whiteness, brightness, and opacity.
The inorganic pigments market has been segmented on the basis of application into four categories, namely, paints and coatings, plastics, inks, and others. Among these applications, the paints and coatings application accounted for the largest market share in 2019. Growing demand for various types of coatings, such as automotive coating, industrial coating, coil coatings, floor coatings, marine coatings, and can coatings, is driving the market for inorganic pigments in the paints and coatings segment.
The global building and construction industry is growing rapidly owing to the increasing focus and investments in the construction sector. Inorganic pigments improve the quality of construction materials. In the building and construction industry, inorganic pigments are used in pavers, flooring, tiling, bridges, pipe and panels, and precast walls.
APAC is the largest market for inorganic pigments. Industrialization, growing population, urbanization, and improving the standard of living in the emerging economies of APAC are boosting the inorganic pigments market. The major end-users of inorganic pigments in the region are building and construction, automotive, and packaging.
The major factors driving the inorganic pigments market include the growth of the global construction sector and the increasing significance of aesthetics in the packaging industry.
On the basis of pigment type, the inorganic pigments market has been segmented into four types, namely, titanium dioxide, iron oxide, carbon black, and others. Titanium dioxide is projected to lead the global inorganic pigments market during the forecast period. The demand for titanium dioxide is the highest due to its white color. Titanium dioxide is the world's primary pigment for providing whiteness, brightness, and opacity.
The inorganic pigments market has been segmented on the basis of application into four categories, namely, paints and coatings, plastics, inks, and others. Among these applications, the paints and coatings application accounted for the largest market share in 2019. Growing demand for various types of coatings, such as automotive coating, industrial coating, coil coatings, floor coatings, marine coatings, and can coatings, is driving the market for inorganic pigments in the paints and coatings segment.
The global building and construction industry is growing rapidly owing to the increasing focus and investments in the construction sector. Inorganic pigments improve the quality of construction materials. In the building and construction industry, inorganic pigments are used in pavers, flooring, tiling, bridges, pipe and panels, and precast walls.
APAC is the largest market for inorganic pigments. Industrialization, growing population, urbanization, and improving the standard of living in the emerging economies of APAC are boosting the inorganic pigments market. The major end-users of inorganic pigments in the region are building and construction, automotive, and packaging.