KONSTANZ, Germany – Ceresana Research has released a newly updated, in-depth study on the global pigments market, which states that pigment revenues will increase to more than $45 billion by 2018. In 2010, the Asia-Pacific region was responsible for 45 percent of the global demand for pigments. The second-largest market was North America, followed by Western Europe. Ceresana anticipates that the Asia-Pacific region will continue to significantly influence market dynamics in the future. The rapidly developing emerging markets have the greatest growth potential, above all China and India. Moreover, South America and the Middle East register above-average growth rates of 3.6 percent to 4.4 percent.
Iron oxides and organic pigments record the highest growth rates in North America and Western Europe. In emerging markets, the demand for carbon black pigments is especially increasing. Ceresana expects that titanium dioxide will have a share of somewhat more than 60 percent of the global pigment market in 2018.
Pigments have always been used primarily as colorants. However, secondary properties are gaining importance, for example protection from UV rays or corrosion prevention. Product innovations primarily aim at organic, effect and special pigments. The focus is on higher color intensity, color variety and additional properties, such as self-cleaning and antibacterial characteristics, insulating properties, or the reflection of infrared light.
For additional information, visit www.ceresana.com/en/market-studies/additives/pigments-new/.