KONSTANZ, Germany - In its latest study, Ceresana forecasts global revenues generated by the pigments industry to increase to $34.2 billion in 2020. Pigments are mainly used in the production of coatings and the coloring of plastics and construction materials. Other applications include the manufacturing of printing inks and paper. The most important indicator for the development of the pigment industry is the construction sector, as total demand for construction material, paints, varnishes, and plastics largely depends on the development of the construction industry.
The Asia-Pacific region accounts for almost half of global consumption of pigments and is expected to increase its share of the market even further. This region will continue to be the growth motor of the pigments industry, as China and India in particular are substantially increasing demand for pigments. Eastern Europe, the Middle East and South America will see demand rise by more than three percent per annum each, contributing to the positive development of the pigments industry. The rather saturated markets in Western Europe and North America will slowly return to a growth path after losses suffered in the past couple of years.