Report Predicts Pigments Market to Recover After COVID-19 Disruption
LEATHERHEAD, UK/AKRON, OH – A new study by Smithers predicts global demand for high-performance and special effect pigments in 2020 will be 217,100 tonnes, with a value of $6.22 billion, as the industry reacts to a severe short-term fall in demand caused by the global coronavirus outbreak.
New research contained in the Smithers market report, The Future of High-performance Pigments to 2025, shows that the 2020 figures represent a 12% drop in value compared to 2019. This has been caused by restrictions on economic activity and industry closures across the world caused by the COVID-19 pandemic, which has impacted nearly all end-users.