APAC to also emerge as a strong growth avenue, Pankaj Singh writes.
The continuous upturn in construction spending has fueled the expansion of pigments market share globally, with increased demand for paint, plastic components and other materials.
The benefits of various types of pigments including titanium dioxide, carbon black as well as numerous organic products, across different application areas, have outlined the industry trends. Consistent evolution and growth of the automotive sector have driven pigment consumption substantially over the years, with the need for high-performance coatings and plastic components.
According to the OICA, more than 95.6 million vehicles had been manufactured in 2018, which is indicative of the tremendous utilization of paints and coatings across the sector. Rapid urbanization, economic upliftment in developing nations along with a fast-growing world population has increased the demand for packaged food and consumer products.
This, in turn, has offered notable opportunities for pigment suppliers from printing ink
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