Published on : Dec 29, 2016
The global high performance pigments (HPP) market is projected to exhibit a stable CAGR of 4.21% between 2016 and 2021. The increase demand for advanced coatings from the construction and automotive industries is expected to aid the market’s expansion. Besides this, the coating application in industries such as plastics and textiles, cosmetics, and ink has been increasing at a rapid pace, which is expected to give significant impetus to the market.
Demand for Organic HPP Slated to Increase at Robust Pace
Based on type, the global HPP market can be bifurcated into inorganic and organic. Of these, the inorganic performance pigments segment currently holds the leading market share. However, over the course of the forecast period, the organic segment is expected to demonstrate a faster CAGR, slowly emerging at the market’s forefront. Besides this, the segment is also expected to gain from the implementation of stringent environmental regulations. The extensive use of organic high performance pigments will also aid the overall market’s growth.
Asia Pacific Holds Immense Opportunities for Market’s Growth
Regionally, Asia Pacific is likely to exhibit the most lucrative opportunities for the global HPP market. Rapid industrialization witnessed in the region resulting into increasing vehicle production, rising textile and plastic consumption and similar trend has encouraged the leading manufacturers set up their facilities in Asia Pacific. This has been creating lucrative opportunities for the high performance pigments market in turn. On the other hand, as the developed market is reaching towards their maturity, which would compel leading companies to shift their focus towards emerging nations.
By application, cosmetics, inks, plastics and textiles, and coatings constitute the key segments in the market. Regionally the global high performance pigments market can be segmented into North America, APAC, EMEA, and Rest of the World. Some of the most lucrative markets for high performance pigmentation in these regions are India, Indonesia, Japan, Brazil, China, Canada, Germany, Saudi Arabia, and the U.K., and the U.S.