Strong growth in the Asia-Pacific region and increased activity in developed regions will continue to drive demand.
Catherine Diamond, Associate Editor03.29.16
The global pigments market is expected to reach revenues of $34.2 billion USD by 2020, due largely to extraordinary growth in the Asia-Pacific region. According to a study done by Ceresana, Asia-Pacific accounts for almost half of global consumption of pigments already, and is expected to increase its share of the market even further.
“This region will continue to be the growth motor of the pigments industry, as China and India in particular are substantially increasing demand for pigments,” the report states. “Eastern Europe, the Middle East and South America will see demand rise by more than 3% p.a. each as well and thus contribute to the positive development of the pigment industry. The rather saturated markets in Western Europe and North America will slowly return onto a growth path after they suffered losses in the past couple of years.”
The authors of Ceresana’s report, titled Market Study: Pigments, 3rd Edition, found that there are significan
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