Pigments are a cluster of colored chemical compounds that are added to the polymer base to provide a specific type of color to the plastic. They are used to enhance the overall appearance of plastic products. There are two types of pigments namely organic and inorganic. The ones that are organic are hard to dispense and tend to form clumps of pigment particles. Inorganic pigments such as sulfides and metal oxides are more easily dispersed in the polymer. Titanium dioxide is one of the most widely used pigments in the plastics industry.
Now moving on to the global plastic pigments market it is likely to grow due to the growing product usage in the paints and coatings industry. They are mainly used in coatings and paints to enhance the color and visual aesthetics of products. Moreover, many manufacturing companies are now investing in research and development technologies to greatly improve their production capacities. The global plastic pigments market is anticipated to reach $16.32 billion by 2025.
The demand for plastic pigments in the automobile industry will witness a significant boost and will further drive the global plastic pigments market. Reason being, plastic pigments possess supreme properties and attributes that prove to be of immense use in the automotive sector. They help in providing excellent luster, greatly reduce opacity and reflection, and enhance the overall appearance, and durability of the interior and exterior parts of automobiles.
The inorganic plastic pigments market is anticipated to dominate the global market in the coming years ahead. This is due to their cost-effectiveness and extensive utilization in various types of industries such as industrial coating, coil coating, and powder coating. The packaging industry is expected to dominate the global market in the upcoming years due to its use in a diverse range of color shades to accentuate the look of packaged goods.
Latin Americ, Middle East, Africa, Europe, and North America comprise the overall global plastic pigments market. Europe had a major revenue share in 2018 and will continue to witness regional dominance in the next few years. This is due to the rising demand for plastics pigments in the coatings and paints industry for high-end sports cars and luxury cars in the region.
Let us now move on to the Asia-Pacific market. It is anticipated to have the highest growth rate due to multiple organizations that are investing in the research and development activities. In addition, the market will witness growth due to the rising demand for plastic pigments in the packaging sector.