Coating Pigments Market

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
• BASF SE
• LANXESS
• ALANTA
• CRISTAL
• Carl Schlenk AG
• CATHAY INDUSTRIES
• 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