Plastic Pigments: Introduction
- Significant rise in plastic packaging has fueled the demand for plastics pigments across the globe. Growth in application of plastics in consumer goods, building & construction, automotive, and other industries is further driving the market.
- Rise in demand for high performing pigments is also projected to boost the demand for plastic pigments. Increase in application of plastic pigments in various industries, including building & construction, consumer goods packaging, automotive, and consumer goods, is further augmenting the demand for plastic pigments.
- Plastic pigments are insoluble particles that are used to color plastic. Pigments are ideally suited to color polyolefin and are preferred over dyes. Pigments used for plastics may be organic or inorganic depending upon the performance and application requirement.
Key Drivers and Restraints of Plastic Pigments Market
- Increase in significance of esthetics in packaging is a key factor driving the global plastic pigments market. Technological advancements in pigments is also expected to fuel the market.
- Higher resistance to various chemicals, heat stability, and excellent light fastness are booting the usage of organic pigments. This factor is expected to boost the plastic pigments market. However, fluctuation in raw material prices and increase in environmental concerns are expected to hamper the global plastic pigments market. Furthermore, regulations related to plastics recycling are estimated to adversely impact the global plastic pigments market during the forecast period.
Plastic Pigment: Type Segment
- In terms of type, the plastic pigments market can be segmented into inorganic pigments and organic pigments
- The inorganic pigments segment can be further segmented into chromium oxide pigments and iron oxide pigments. The organic pigments segment can be further segmented into high-performance pigments, phthalocyanine pigments, and others.
- Organic pigments includes a wide spectrum of properties. They are largely used for applications such as high tinting strength and brilliant shade, while inorganic pigments are beneficial where high opacity is needed.
- Organic pigments contain carbon and metallic compounds. Inorganic pigments are generally composed of metal salts. The size of inorganic pigments is comparatively bigger.
- Colors of inorganic pigments comprise chromium and lead and are exceptional for application in colorfast pigments. However, their negative impact on the environment may adversely impact the segment in the near future.
- Plastic pigments also facilitate paints as well as coats to protect different surfaces against adverse weather and corrosion
COVID-19 Impact on Plastic 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 214 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 came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the plastic pigments market.
Asia Pacific to Dominate Plastic Pigments Market
- In terms of region, the plastic pigments market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global plastic pigments market in 2020. This trend is anticipated to continue during the forecast period. Its dominance can be ascribed to the growth of end-user industries in the region.
- China is considered the largest country of the market in Asia Pacific. Significant growth of the plastic packaging industry is a major factor driving the market in China. Rapid industrialization and growth in preference for plastic goods over heavy metal products are estimated to boost the demand for plastic pigments in China in the near future.
- Plastic products are cost effective and are lightweight. This is fueling the global plastic pigments market.
- Plastic pigments are utilized significantly in Middle East & Africa owing to the rise in demand for these pigments in various end-use industries such as automotive, construction, and packaging
Key Manufacturers Operating in Plastic Pigments Market
The global plastic pigments market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global plastic pigments market include:
Plastic Pigments Market: Research Scope
Plastic Pigments Market, by Type
- Organic Pigments
- High-performance Pigments
- Phthalocyanine Pigments
- Inorganic Pigments
- Chromium Oxide Pigments
- Iron Oxide Pigments
Plastic Pigments Market, by Application
- Consumer Goods
Global Plastic Pigments Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.