SHELBYVILLE, DE — According to a new report by Global Market Insights Inc., the pigments market is forecast to exceed $18 billion by 2025.
The report predicts that the pigments market will witness promising gains during the forecast period owing to rising demand in the construction industry. Concrete is an important part of construction, and iron oxide is primarily used for coloring concrete. In 2017, U.S. cement production was 86.3 million tons, up from 85.0 million tons in 2016. The market for concrete is likely to witness significant growth rate during the forecast period, owing to increased spending from the U.S. government on public infrastructure, a development that will positively influence the market for pigments in the coming years.