Inorganic Paint Pigment Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM2258 | Last Updated On: Oct 28 2022 | Available Formats

> Global Inorganic Paint Pigment Market Expected to reach a high CAGR of 4.7% By 2029: DataM Intelligence

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, 2022-2029

Market Overview

The Global Inorganic Paint Pigment Market is expected to grow at a high CAGR of 4.7% during the forecasting period (2022-2029).

Inorganic Paint Pigment Market Scope

Metrics

Details

Market CAGR

4.7%

Segments Covered

By Product Type, By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Inorganic pigments are very fine granular solids that act as a color material for paint. They have their color and physical & chemical properties such as oil absorption, heat resistance, weather resistance, drying rate, tinting strength, resistance to other chemicals, and ease to disperse, etc.

Market Dynamics

The market growth is driven by the increasing demand for inorganic paint pigments in architecture products and automobile coatings

There is a rising desire for greater transparency of colors used in the combination with the paint inorganic pigments due to its chroma, strength, and transparency leads to the necessity to update automotive paint colors. Hence, it is increasing the usage of paint pigments in automobiles.

Advancement of the different technologies being adopted by the market players for manufacturing the paint pigment shall have a positive impact on the market. Companies are developing the pigments for smart traffic paints that glow at night using luminescent powder and paints that change color.

Rising government investment in the development of the infrastructure is stimulating market growth.  For instance, according to the Department of Industrial Policy and Promotion (DIPP), the Foreign Direct Investment (FDI) received in the construction development sector was USD 25.12 billion from April 2000 to June 2019 for developing the townships, housing, built-up infrastructure, and construction development projects in India. Further, it is expected that India would be requiring the investment of USD 777.73 billion in infrastructure by 2022 to have sustainable development in the country. Several companies are investing in the infrastructure.

However, the presence of toxic substances in chemical paint could hurt health. Fluctuations in the cost of raw materials, availability of substitute ingredients, government, and environmental regulations are hindering market growth. For instance, stricter environmental regulations imposed by the Chinese government to reduce production to limit emissions have led to the closure of the plants and the consolidation of companies in China.

COVID-19 Impact Analysis

The COVID-19 pandemic has disrupted the global economy and halted the key processes of almost all companies. Therefore, even the global inorganic paint pigment market suffered due to it. The disturbances in supply chain management and transportation of goods and services hurt the growth of the market. Many manufacturing and production units were disrupted due to the government enforced lockdowns and curfews across the world which led to losses and wastage of many paint pigments. The pandemic also significantly changed consumer demand and behavior. Consumers refrained from purchasing non-essential products amid the pandemic. The uncertain and unexpected situation caused by the pandemic significantly impacted the market hence, slowing its growth. However, the post-pandemic scene has improved and the global inorganic paint pigment market has recovered. The market is set to grow at a high rate.

Segment Analysis

The global paint pigment market is segmented based on types as carbon pigment, chrome pigment, iron oxide, cobalt pigment, cadmium pigment, titanium dioxide pigment, and others

Titanium dioxide is the fastest-growing inorganic paint pigment segment as it is the most widely preferred inorganic paint pigment due to its properties such as excellent color quality, high hiding power, nontoxic nature, and reasonable cost. It is a white-colored pigment. There is an increased demand for titanium dioxide inorganic paint pigment due to its better light-scattering properties that provide excellent opacity, brightness, and whiteness to the paint products.

Iron oxide and chrome-based pigments contribute significant market share over the forecasted period as there is high consumption of these inorganic paint pigments globally. Hematite is the most common iron oxide used for red-tone paint. Chromium compounds are widely used to produce vibrant yellows, oranges, and greens.

Further, the market is also classified based on applications into architectural coatings, industrial coatings, and others

Architectural coatings account for the highest market share due to the high demand for inorganic paint pigments for the architectural products for the residential and commercial buildings in the construction industries. Inorganic Paint pigments used for architectural products include anti-corrosion and fireproofing properties. Availability of new colors, finishes, and low volatile organic compound paint pigment formulations drive the demand for new product development. Growth in the construction industry is expected to have a positive impact on the market. 

The industrial coating segment is expected to have significant market growth owing to the wide use of paint pigment for aerospace, automotive, consumer products, original equipment, shipbuilding, and infrastructure supplies industries. Inorganic paint pigments used for industrial coating reduce friction or serve as adhesives, resist temperature extremes, prevent corrosion, and provide protection against microbial contamination.

Geographical Presentation

By region, the global inorganic paint pigment market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa

Among all of the regions, Asia Pacific dominated the global inorganic paint pigment market due to the high growth in the construction industry. According to Invest India (a National Investment Promotion & Facilitation Agency), the construction industry is expected to increase and reach up to USD 738.5 Billion by 2022. There is rapid expansion in the construction industries due to the rapid urbanization in developing countries such as China, and India. According to Teri, The Energy and Resource Institute, India’s urban population is expected to reach from 410 million in 2014 to 814 million by 2050. It is further expected that India would be adding four new megacities by 2030. Growth in the construction industry is boosting the demand for paint pigments over the forecasted period. Rinsing domestic income, increasing domestic income, and consumption are the factors increasing the demand for chemical paint pigment in India and China.

European countries are also witnessing the increased demand for paint pigments in the automotive industry. According to the European Automobile Manufacturers Association, Automobile manufacturers operate around 309 vehicle assembly and production plants in 27 countries across Europe. Approximately, 19.2 million cars, vans, trucks, and buses are manufactured every year. European countries are also witnessing the high usage of paint pigment in ship buildings. Renovation activities are also expected to increase over the forecasted period which will accelerate the demand for paint pigment.

Competitive Analysis

The global paint inorganic pigment market is highly competitive with the presence of domestic and foreign market players. The product diversification, product innovation, expansion strategies, and opportunities for market growth through new product launches intensify the competition among the companies. BASF SE, Dow Chemical Company, Clariant AG, Musclerox, STOCKMEIER Group, Lanxess, UNILEX GROUP, and Ei Dupont De Nemours are the leading players with the significant market size. Leading market players are involved in scaling up the manufacturing facilities, and increasing the market penetration.

The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for paint pigment and their expansion across the globe. For instance, in August 2019, DIC Corporation had entered into an agreement with BASF SE for the acquisition of BASF’s global pigments business for Euros 1.15 billion. The transaction is expected to close in the fourth quarter of 2020. In March 2019, the German STOCKMEIER Group acquired the industrial chemicals distribution division of Indukern, a Spanish company.

BASF SE

Overview: BASF SE is a German multinational chemical company. It is the largest chemical producer in the world.

Product Portfolio: Its products include chemicals, plastics, performance chemicals, crude oil, and natural gas exploration, catalysts, coatings, crop technology, and production.

Key Developments: On January 31, 2020, BASF acquired Solvay’s polyamide business. The transaction broadens BASF’s polyamide capabilities with innovative and well-known products. The transaction enhances the company’s access to growth markets in Asia as well as in North and South America.

Why Purchase the Report?

  • Visualize the composition of the global paint pigment market products across each product type and application highlighting the critical commercial assets and players.
  • Identify commercial opportunities in the global paint pigment market by analyzing trends and co-development deals.
  • Comprehensive details on factors driving the market growth.
  • Excel data sheet with thousands of data points of global paint pigment market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

**The global paint pigment report will provide access to approximately 53 market data tables, 44 figures, and 178 pages

Target Audience

  • Investors/Investment Bankers
  • Service Providers/Buyers
  • Research Professionals
  • Emerging Companies
  • Distributors

Frequently Asked Questions

What is the Projected CAGR value of the Inorganic Paint Pigment Market?

Inorganic Paint Pigment Market is expected to grow at a CAGR of 4.7% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Inorganic Paint Pigment Market during 2022-2029.

Which is the fastest growing region in the Inorganic Paint Pigment Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period.

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