Key ingredients, including intermediates and pigments, are a concern during COVID-19.
Sean Milmo, European Editor05.18.20
The pigments market in Europe, like other major raw material sectors for printing inks, is facing the key issue of what will happen to demand once the lockdown across the region to combat the coronavirus outbreak (COVID) has been lifted.
In a world economic outlook bulletin in April 2020, the International Monetary Fund (IMF) was predicting that after a double-digit plunge in GDP in the second quarter, the 19-country euro area would record an average 7.5% drop in output this year with similar decreases in the remainder of the region.
In 2021, this would be transformed into average GDP growth in the euro-zone of 4.7%, according to the IMF. By next year, the global pigments market could start to return to pre-COVID annual growth levels of approximately 5%-6%, with paints and coatings accounting for much of the increase.
Although parts of Europe’s market for printing inks and their raw materials like pigments will continue to be undermined by intense competition from online media
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