Technavio, a tech-focused market research firm, has published a new report on the global specialty pigments market, which is expected to experience steady growth rate with a CAGR of more than 3% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global specialty pigments market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global specialty pigments market into the following key regions: Americas, APAC, and EMEA.
Geographical segmentation of the global specialty pigments market for 2015 (market share %)
|
APAC |
40.1% |
|
Americas |
32.5% |
|
EMEA |
27.4% |
Source: Technavio
APAC: largest revenue generating region for specialty pigments
During 2015, APAC accounted for more than 40% of the global market. The growth of the market in this region can be accredited to the increased focus on development, rapid industrialization, and the flourishing automotive industry, especially in countries like China and India. The significant infrastructure development activities in China and India is also expected to add to the demand for specialty pigments in APAC during the forecast period. Apart from China and India, the infrastructure developments in Singapore, Indonesia, and Vietnam will also function as an incentive for the growth of the specialty pigments market in APAC over the next four years.
According to Ajay Adhikari, a lead analyst at Technavio for paints, pigments, and coatings, “The infrastructure market in APAC is expected to grow between 7% and 8% during the forecast period. The region has witnessed a significant increase in infrastructure investments over the last decade. This trend is expected to continue over the next few years, leading to an upsurge in demand for specialty pigments in the market.”
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Specialty pigments market in the Americas
The specialty pigments market in the Americas accounted for almost 33% of the global market in 2015. The growth of the market in this region is driven primarily by the development of the automobile industry. During 2015, the US produced more than 4 million passenger cars to become the largest automobile manufacturer in the global market. The presence of manufacturing plants of leading automobile manufacturers such as GM, Ford, Chrysler, and Honda in the US is also an incentive for market growth. During the forecast period, the demand for specialty pigments in the Americas is anticipated to rise in tandem with the growth of the automobile market.
Specialty pigments market in EMEA
The sales of paints and coatings account for a majority share of the revenue generated by the specialty pigments market in the EMEA. The paints and coatings market for decorative applications accounted for the largest share of approximately 40% in 2015 in the total paints and coatings market. The UK spends around $62 billion on building maintenance per year, leading to a rise in the demand for paints and coatings, and hence specialty pigments. The projected rise in the demand for paints and coatings from the construction sector, especially in countries such as Russia, France, Germany, the UK, will foster the growth of the specialty pigments market in EMEA during the forecast period.
The top leading vendors operating in the global specialty pigments market are:
- BASF
- Clariant
- DIC
- Ferro
- Flint
Other prominent vendors in the market include Dainichiseika Color & Chemicals, DayGlo, Dominion Colour, ECKART Effect Pigments, Flex Products, Merck, NEMOTO, and Toyo Ink Group.
A more detailed analysis is available in the Technavio report titled, ‘Global Specialty Pigments Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Construction Paints and Coatings Market 2016-2020
- Global Dyes and Pigments Market 2016-2020
- Global Ceramic Coatings Market 2016-2020
- Global Industrial Coatings Market 2016-2020
- Global Residential Architectural Coatings Market 2015-2019
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