Inorganic Paint Pigment Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Inorganic Paint Pigment Market is segmented By Product Type (Carbon pigment, Chrome Pigment, Iron Oxide, Cobalt Pigment, Cadmium Pigment, Titanium dioxide Pigment, Others), By Application (Architectural Products, Industrial Coatings, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Market Overview

Global Inorganic Paint Pigment Market reached US$ 5.1 billion in 2022 and is expected to reach US$ 9.7 billion by 2030, growing with a CAGR of 4.9% during the forecast period 2024-2031.

Significant growth witnessed in the construction and infrastructure industries drives the demand for paints and coatings which increase the demand for inorganic paint pigments. As urbanization and development projects continue across the globe, the need for these pigments to provide color and protection to buildings, bridges and other structures is expected to rise.

Inorganic pigments are majorly used in automotive industries used as automotive coatings that provide durability and resistance to weathering. Rising consumer demand increases the expansion of the automotive industry. Continued advancements in pigment manufacturing and technologies enhance the performance and color options of inorganic pigments.

North America inorganic paint pigment market is expected to hold around 1/4th of the global market during the forecast period 2023-2030. North America has witnessed significant demand from packaging industries which is driven by e-commerce, consumer goods and food and beverages sectors.

Inorganic pigments are used in packaging coatings that protect from packages from UV and enhance the overall performance of the pigment materials. The increasing focus on sustainability and eco-friendly products in North America drives the adoption of inorganic pigments especially in coatings used for consumer products, these factors boost the market.

For instance, on 22 February 2023, the Heubach Group formed a strategic partnership with Lintech International to distribute its diverse portfolio of organic, inorganic and anticorrosive pigments in U.S. The partnership encompasses Heubach Colorants USA (formerly Clariant Pigments) and Heubach Ltd., offering their full range of products to customers in the coatings, plastics and printing segments.

Market Summary

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Market Dynamics

Architectural Coatings Boosts the Inorganic Paint Pigment Growth

Inorganic pigments are known for their excellent durability and lightfastness, which means they can withstand exposure to sunlight and weathering without significant fading or degradation. As architectural coatings are applied to exterior surfaces, these properties are essential to maintain the color and appearance of buildings over time.

In the architectural coatings sector, pigment selection is primarily influenced by color properties and cost considerations. Inorganic pigments are commonly employed for earthier colors due to their affordability and acceptable color stability, when color matching is feasible, inorganic pigments are often preferred over more expensive and lightfast organic pigments.

The Rising Demand for Inorganic Paint Pigment in Plastics Sector

Pigments are substances composed of small particles that are mostly insoluble in the systems. Pigments are used on surfaces and require binders to embed the particles, such as in paints, coatings, printing inks and cosmetics. Titanium dioxide is majorly used in inorganic pigments in the plastics sector as it offers excellent properties. It has bright white pigments with high opacity and is used in a wide range of plastics products such as packaging materials and consumer goods.

According to LANXESS, approximately 2,800 kilotons of bioplastics are expected to be generated yearly by 2025, with 1,800 kt being biodegradable. Certain pigment classes, such as nickel-, chrome- or copper-based pigments, cannot be used to color biodegradable plastics due to controlled heavy-metal levels. Colortherm-branded iron oxide pigments from LANXESS are nearly free of heavy metals, which means that even with high pigment content, the requirements for biodegradable polymers may be consistently maintained.

Inorganic paint plastics are often preferred because they have lower toxicity and stringent regulatory standards. Advancements in pigment manufacturing and dispersion technologies made inorganic pigments have more versatile inorganic pigment which is easier to incorporate into plastic formulations, these factors lead to wider adoption of various plastics products.

Inorganic paint pigments, which include metal oxides, metal sulfides, carbon black, titanium dioxide and others are used in various industries for coloring plastics and other materials. As they offer excellent heat stability, light resistance, weather resistance and migration resistance which makes them suitable for outdoor applications.

Rising Advancements in Technology

Rising advancements in technology have shown a significant impact on the inorganic paint pigments market by enhancing the properties, performance and applications of these pigments. These developments have increased the possible applications for inorganic pigments across industries, increasing their adaptability and manufacturing appeal.

Nanoscale inorganic pigments have been made possible via nanotechnology. These pigments provide more color saturation, better paint dispersion and greater durability. Additionally, they offer special optical qualities that are beneficial for high-performance paints, cosmetics and automobile coatings, such as iridescence and color-changing effects.

Less Soluble and Low Tinting Strength

Some inorganic pigments are less toxic when compared with organic pigments and heavy metals-based inorganic pigments raise environmental concerns as these metals impact the ecosystem and biodegradability. Inorganic pigments are not soluble in the media, this limited solubility affects the surface treatments and pigments preparations.

Inorganic paint pigments have low tinting strength which requires large pigments for production. The colors that come from these pigments are brighter which seems to be less rich. Inorganic paint pigment has limited effects and not offers the same range of colors, this limitation restricts certain possibilities in many industries.

High Cost Effectiveness

Inorganic pigments especially in their natural form have a relatively limited color range compared to organic pigments. As they offer a variety of colors but may not provide the same extensive color options available with organic pigments. Inorganic pigments like metal oxides have high opacity that hinders the creation of transparent effects.

Inorganic pigments, especially those with specialized properties and high performance, are relatively more expensive than organic pigments, this cost factor impacts their use in certain applications, particularly those with strict budget constraints and these factors downfall the growth of the market.

Market Segmentation Analysis

The global inorganic paint pigment market is segmented based on product, application and region.

Advancement in Cobalt Pigments Technology

The cobalt pigment is expected to drive the market growth holding a share of around 1/3rd of the global inorganic paint pigment market in 2022. Cobalt pigments offer deep and vibrant colors with excellent color stability, lightfastness and durability, these characteristics make them highly sought-after for applications where long-lasting and high-quality colors are essential. It is also considered a safer alternative for some toxic pigments like cadmium-based pigments.

Companies are also launching new products to support the growth of the segment. For instance, on 19 April 2022, The Shepherd Color Company's launch of Blue 20G599 represents a significant advancement in cobalt blue chemistry and pigment technology, this new cobalt blue pigment offers a unique combination of characteristics, specifically its increased chromaticity compared to other cobalt blue pigments and other durable blue pigments available in the market.

Market Geographical Share

Rapid Urbanization and Infrastructure Development in Asia-Pacific

Asia-Pacific is expected to hold the majority of the market share holding around 1/3rd of the global inorganic paint pigments market in 2022. The region is experiencing rapid urbanization and infrastructure development. The construction of buildings, roads, bridges and other infrastructure projects drives the demand for paints and coatings which leads to increased consumption of inorganic paint pigments for coloring and protection.

For instance, China plans to invest US$ 1.43 trillion in major development projects over the next five years, through 2025. The Shanghai plan, according to the National Development and Reform Commission, comprises an investment of US$ 38.7 billion over the next three years. Guangzhou, on the other hand, signed 16 new infrastructure initiatives for US$ 8.09 billion.

Market Competitive Landscape

The major global players include BASF SE, Dow Chemical Company, Heubach, Ei Dupont De Nemours, Lanxess, UNILEX GROUP, Clariant AG, Musclerox, STOCKMEIER Group and Trinity Pigment Industries.

COVID-19 Impact on Market

Many pigment manufacturers faced challenges during the pandemic due to lockdowns and restrictions imposed to contain the spread of the virus and these measures affected production facilities, workforce availability and raw material supply chains. As a result, some manufacturers experienced reduced capacity or temporary closures, leading to disruptions in the production of inorganic pigments.

The pandemic also impacted global transportation networks. Border closures, reduced air freight and restrictions on maritime operations affected the movement of goods, including raw materials and finished products. Delays in shipping and logistics further added to the supply chain challenges faced by pigment manufacturers.

Due to limitations and lockdowns put in place to stop the virus's spread, many pigment makers encountered difficulties during the pandemic, these actions had an impact on supply chains for raw materials, production facilities and labor availability. Some producers saw their capacity curtailed or had to temporarily close their doors, which caused delays in the production of inorganic pigments.

The pandemic also affected the world's transport systems. The transportation of goods, including raw materials, was impacted by border closures, restricted transportation and marine operations. The difficulties that pigment manufacturers experienced in the supply chain were further exacerbated by shipping and transportation delays.

Russia- Ukraine War Impact

Supply chain disruptions can result from armed conflicts since production facilities may be directly or indirectly impacted. If production facilities or raw material suppliers are situated in conflict-affected areas, the production process for inorganic paint pigment may be delayed or interrupted.

Border crossings, ports and transportation routes are all affected by geopolitical war, this may impede the flow of components and completed goods, causing shipping delays and a potential scarcity of inorganic paint pigment. Geopolitical tensions may lead to heightened security measures, trade restrictions or even blockades, making it challenging for companies to import or export their products.

The cost of the raw materials needed to produce inorganic paint pigments can change as a result of supply chain interruptions and uncertainty. Manufacturers may incur higher expenses as a result of issues locating certain resources, which may then be passed on to customers, these factors hinder the growth of the market.

The demand for a variety of goods, including paint, can be impacted by armed conflicts. The demand for inorganic paint pigment may alter during unstable times due to changes in consumer behavior, building activity or industrial production. Many industries use inorganic paint pigment for various applications. During unstable times, industrial production might be affected due to supply chain disruptions, labor shortages or reduced consumer demand.

By Product

• Cobalt Pigment
• Iron Oxide
• Carbon Pigment
• Chrome Pigment
• Cadmium Pigment
• Titanium dioxide Pigment
• Others

By Application

• Architectural Products
• Industrial Coatings
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On 18 November 2022, Venator Materials is set to finalize the sale of its iron oxide business to Cathay Pigments for US$ 140. The deal encompasses eight manufacturing plants and one administrative site located across six countries on four continents. For Cathay Industries Group, the acquisition represents an opportunity for global manufacturing expansion and potential synergies in the iron oxide pigment market.
• On 19 May 2023, ARMOR Industrial Inks (A2i) introduced a new line of aqueous inks for direct film printing at the FESPA international trade fair in Munich and this innovative range of inks is designed for the textile market, with a particular focus on cotton applications.
• On 19 April 2022, The Shepherd Color Company's launch of Blue 20G599 represents a significant advancement in cobalt blue chemistry and pigment technology, this new cobalt blue pigment offers a unique combination of characteristics, specifically its increased chromaticity compared to other cobalt blue pigments and other durable blue pigments available in the market.

Why Purchase the Report?

• To visualize the global inorganic paint pigment market segmentation based on product, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of inorganic paint pigment market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global inorganic paint pigment market report would provide approximately 53 tables, 51 figures and 202 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies