Smithers Predicts Steady Growth for High-Performance Pigments Market
LEATHERHEAD, UK/AKRON, OH – New research from Smithers indicates that the market for organic, inorganic and special-effect high-performance pigments (including metallic and pearlescent products) is facing a pivotal year. The research, published by Smithers in The Future of High-performance Pigments to 2027in 2022, expects that global consumption will reach 241,344 tonnes and be worth a projected $7.33 billion.
Smithers’ analysis tracks the market for 17 different pigment types. According to the research firm, the sector is still in a phase of recovery, and to a lesser extent restructuring. Volume demand for high-performance pigments fell by 9% during 2020, while value demand fell 10%, as many businesses were closed for long periods and consumer buying patterns were restricted and reduced.