According to Grand View Research (GVR), the global inorganic color pigments market size was valued at $3.10 billion in 2019. It is expected to expand at a compound annual growth rate (CAGR) of 3%, in terms of revenue, from 2020 to 2027.
According to the report, “Inorganic Color Pigments Market Size, Share & Trends Analysis Report By Product (Iron Oxide, Carbon & Vegetable Black, Ultramarine Blue, Chrome Green), By Application, And Segment Forecasts, 2020 – 2027,” the market is expected to be driven by the growing application of in-organic color pigments in plastics, paints and coatings, and printing inks.
Inorganic color pigments are used to provide color to the substrate by blending them or by applying as a coating on the surface. These pigments are produced by mixing metal oxides with the help of simple chemical reactions such as oxidation and high-temperature calcination procedure. Because of their composition, inorganic color pigments offer high tinting strength, excellent light and weather fastness, excellent resistance towards solvent and oxidizing agent, heat stability, and consistency.
The paints and coatings segment led the market and accounted for more than a 38% share of the global revenue in 2019. The significant market share is attributed to the increasing demand for paints and coatings in construction, automotive, and general industries applications.
The iron oxide segment led the market and accounted for more than 60% share of the global revenue in 2019. The increasing demand from the paints and coating industry is expected to drive the segment over the forecast period. Iron oxide is widely preferred over natural pigments, owing to their excellent quality and purity. Moreover, they offer excellent weather resistance, heat resistance, and fire resistance which make them suitable applications in various paint and coating used in an industrial, automotive, and architectural application.
