BASF SE, DIC Corporation, and Altana AG,
collectively held a share of 30% in the global pigments market for
2015, according to analysis carried out by Transparency Market
Research. Along with the significant market share taken up by these
three leaders, the global pigments market will still exhibit a highly
competitive landscape. Due to its highly fragmented nature, no player
in the market may be able to show a high profit margin.
The global pigments market shows a highly
integrated value chain, mixed with intense rivalry at a regional
level as well as among the leading participants in the global
pigments market. According to TMR, it is unlikely for this degree of
competition to wane over the given forecast period between. Among the
key participants, Altana AG has a strong global presence and
operations across nearly 100 countries. The company accounts for the
singular dominant share in the global market for 2014.
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Asia Pacific Prospects Deemed Lucrative Amid
Positive Demand Growth
The global pigments market is generating a high
volume of demand from the emerging economies of the world, especially
from Asia Pacific. India, Malaysia, Thailand, China, and Indonesia,
South Korea, and Australia and displaying a very strong growth in
demand for pigments within the end-user industries of construction
and automotive. “In 2014, Asia Pacific emerged as the leading
consumer of inorganic pigments, marked by the swift pace of the
region’s economic progress and bolstered construction activities
and developments in infrastructure. The paints and coatings industry
is substantially gaining from this trend and is likely to improve its
scope of expansion APAC,” states a TMR analyst.
Paints and Coatings Industry to Continue
Prominent Demand Scale for Pigments
Growth witnessed by the paints and coatings
industry in the last couple of years has been remarkable in key
countries from emerging economies. Industrial development in emerging
economies has created greater opportunities for the industry, thus
fuelling demand for pigments. As per TMR analysis, per capita
consumption of paints is expected to increase in countries such as
India, China, South Korea, Singapore, ASEAN, and GCC at an impressive
rate. This will subsequently boost pigments sales in the
aforementioned countries.
Developed Economies to Remain Bottlenecked in
Pigment Demand
Although the global pigments market will continue
to experience significantly positive opportunities in the emerging
economies through the rise of their construction activities, the
prospects for the market are more or less saturated in the developed
economies of the world. These regions are expected to show little
contribution to the growth rate of the global pigments market,
especially for newer companies looking to expand operations here.
These regions are also slowed down by increasingly stringent
regulations implemented to control the negative effects of emissions
from pigments on health and environment are also considered as major
bottlenecks for the market to overcome during the forecast period.
Demand for paints is mainly expected to rise from
two sectors: Industrial and decorative. Since developing countries
provide substantial scope for housing construction and
infrastructural development, demand for decorative paints in these
nations is generally high. The demand from the industrial paints
segment on the other hand is driven by the consumer goods and
automotive sectors. These factors will up opportunities for the
pigments market in Asia Pacific.
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The information presented in this review is based
on a Transparency Market Research report, titled, “Pigments Market
(Products - Inorganic, Organic, and Specialty Pigments; and End Users
- Paints & Coatings, Printing Inks, Plastics, and Construction
Materials) - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2015 - 2023.”
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