MarketsandMarkets’ report, “HPPs Market by Type (Organic, Inorganic, and Hybrid), Application (Coatings, Plastics, Inks, Cosmetics), End-use Industry (Automotive & Transportation, Construction & Infrastructure, Printing, Industrial), and Region - Global Forecast to 2024,” places the high performance pigment (HPP) market size at $5.2 billion in 2019, growing to $6.4 billion by 2024, at a CAGR of 4.3% during the forecast period.

The HPPs market industry is growing due to the increase in the number of cars, trains, airplanes, ships, and increasing construction and infrastructure activities globally.

Organic HPPs comprise the major share in the HPPs market. They contain carbon chains and carbon rings. The inorganic HPP are precipitated metallic salts and do not contain chains, and contain elements such as lead, cadmium and manganese among others. The hybrid HPP is made mixing both the organic and inorganic HPP. The organic HPP also offers better brightness and is high in chroma and thus offers a glossier effect to the applications it is used in.

Coatings applications account for the significant share in the HPPs market. HPPs are the key coating element of many end-use industries such as automotive and transportation, construction, and industrial, as these pigments not only offer color but also enhance their sustainability. They are applied as a coating on various exterior and interior parts in these end-use industries. The use of HPPs in coatings application imparts high insolubility, color strength, heat stability, weather, and light fastness properties, which are of crucial im-portance in various end-use industries.

APAC accounted for the largest share in the global HPPs market. The region has the presence of a large number of HPP manufacturers. It also has enormous demand for HPPs due to the presence of vast automotive and transportation and construction and infrastructure industries.