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Coating Pigments: Introduction

  • Pigments is a group of compounds that are intensely colored and are employed to impart color to other materials. Coating pigments provide esthetic appeal as well as shielding to the substrate that they cover. They are used in industries such as automotive, aerospace, and architecture.
  • According to the International Energy Agency (IEA), the number of electric cars on road is estimated to reach 220 million by 2030 across the globe. Demand for automotive coating pigments is likely to rise significantly, as electric mobility set to expand at a rapid pace.

Key Drivers and Restraints of Global Coating Pigments Market

  • The coating pigments market has developed significantly of late. This can be primarily ascribed to high performance and increasing global recognition of coating pigments. Coating pigments absorb the light of selective wavelength and then emit various colors through transmission or reflection. Visual appearance, esthetics, and color are significant factors influencing the purchasing decision. Specialty coating pigments are estimated to witness substantial demand from high-end automobile companies and original equipment manufacturers (OEMs) during the forecast period. Rise in usage of coating pigments in automotive, marine, and aviation industries is expected to propel the coating pigments market during the forecast period.
  • Inconsistencies in raw material prices are likely to affect the demand for coating pigments in the next few years. For instance, there has been significant shortages and subsequent hikes in prices of raw materials required in the production of organic pigments (including AZO-coupling agents and PB60-crude).

Coating Pigments: Form Segment

  • In terms of form, the global coating pigments market can be segmented into liquid and powder. The liquid segment is expected to account for significant share of the global coating pigments market during the forecast period.

Coating Pigments: Product Type Segment

  • In terms of product type, the global coating pigments market can be divided into organic, inorganic, and specialty
  • The specialty segment is expected to account for significant share of the global coating pigments market during the forecast period
  • The organic segment is likely to expand at a rapid pace during the forecast period

Coating Pigments: End-use Segment

  • In terms of end-use, the global coating pigments market can be segregated into automotive, aerospace, architecture, consumer goods, marine, rail, and others
  • The automotive segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the aerospace segment.
  • The consumer goods segment is likely to expand at a healthy CAGR during the forecast period, owing to the rise in population across the globe

COVID-19 Impact on Coating Pigments Market

  • On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
  • Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
  • Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the global coating pigments market.

Asia Pacific to Dominate Coating Pigments Market

  • In terms of region, the global coating pigments market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific dominated the global coating pigments market in 2020. This trend is anticipated to continue during the forecast period owing to the increase in investment by manufacturers in China, especially in the automotive production sector in the country. However, the coating pigments market in North America is anticipated to expand at a rapid pace owing to the growth of the aerospace industry.

Key Manufacturers Operating in Global Coating Pigments Market

The global coating pigments market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global coating pigments market include:

  • Clariant
  • Heubach GmbH
  • AkzoNobel N.V.
  • Teknos Group
  • Axalta Coating Systems
  • Carl Schlenk AG
  • Pidilite Industries Limited
  • DIC Corporation
  • Huntsman International LLC
  • Tronox Holdings plc

Global Coating Pigments Market: Research Scope

Global Coating Pigments Market, by Form

  • Liquid
  • Powder

Global Coating Pigments Market, by Product Type

  • Organic
  • Inorganic
  • Specialty

Global Coating Pigments Market, by End-use

  • Automotive
  • Aerospace
  • Architecture
  • Consumer Goods
  • Marine
  • Rail
  • Others

Global Coating Pigments Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Coating Pigments Market