Plastic Pigments Market Overview: 2023-28
Base Year: 2022
Historical Years: 2018-21
Forecast Years: 2023-28
ThePlastic Pigments Market size is valued at around USD 15.41 billion in 2024 and is projected to grow at a CAGR of around 6.9% during the forecast period, i.e., 2023-28, due to the expanding automotive industry. These pigments are the colorants that are used to provide colors to the plastics and come in both liquid & powder formats. In automotive, lightweight & durable materials are high in demand as they can help in improving fuel efficiency & enables better performance. Plastic-based automotive parts such as the bumper & dashboard require these pigments to make the overall look of the vehicle different & attractive. There is a growing inclination towards electric vehicles among consumers, as a result, the demand for e-vehicles is gradually growing, further propelling the need for these pigments in the coming years.
Markntel Advisor’s Plastic Pigments Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Plastic Pigments Market drivers, barriers, Plastic Pigments Market Trends, and Key Players in Plastic Pigments Market.
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Plastic Pigments Market Dynamics: 2023-28
Plastic Pigments Market Driver:
Expansion of Automotive Industry to Augment the Market Growth – There is an increasing demand for lightweight materials in the automotive industry, as they can help reduce the weight of vehicles & improve fuel efficiency. Plastic pigments are used to produce lightweight plastic components that are utilized in automobiles for bumpers, dashboards, and door panels. The automotive industry is increasingly focusing on the customization of automotive components to differentiate its products from competitors. These pigments offer a wide range of color options, which can help manufacturers create customized parts attracting customers.
Moreover, many countries, like China, the US, Japan, Germany, etc., are experiencing a surge in automobile production due to ascending demand & expanding government support. Hence, this surge in automobile production across the globe is significantly contributing to the requirement for plastic pigments. Furthermore, the demand for electric vehicles is advancing rapidly, which can boost the need for these pigments. Hence, plastic components are used extensively in the production of electric vehicles, therefore their demand is expected to supplement in the coming years.
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Plastic Pigments Market (2023-28): Segmentation Outlook
The market report has segmented the market into the following categories:
- By Type
- Organic
- Phthalocyanine Pigments
- High-Performance Pigments
- Inorganic
- Titanium Dioxide
- Iron Oxide Pigments
- Chromium Oxide
- Carbon Black
- Cadmium Pigments
- Organic
According to report, Organic plastic pigments are made from carbon-based molecules & offer a broader range of color options, improved durability, and better lightfastness compared to inorganic pigments.
- By End User
- Packaging
- Food & Beverage Packaging
- Consumer Goods Packaging
- Healthcare & Pharmaceutical Packaging
- Building & Construction
- Consumer Goods
- Automotive
- Others (Healthcare, Textiles, Electronics, etc.)
- Packaging
According to report, Here, the Packaging Industry has played a significant role in supporting the growth of the market globally.
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Top Companies Operating in the Plastic Pigments Market:
- Venator Materials Plc
- BASF
- DIC Corporation
- LANXESS
- Ferro Corporation
- Cabot Corporation
- Clariant
- Chemours
- Kronos Worldwide Inc.
- Heubach GmbH
- Tronox
- Others
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