Market Size of Asia-Pacific Pigments Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 13.44 Billion |
| Market Size (2029) | USD 17.60 Billion |
| CAGR (2024 - 2029) | > 5.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Pigments Market Analysis
The Asia-Pacific Pigments Market size is estimated at USD 13.44 billion in 2024, and is expected to reach USD 17.60 billion by 2029, growing at a CAGR of greater than 5.5% during the forecast period (2024-2029).
- The Asia-Pacific pigments market was negatively affected by the COVID-19 pandemic. Countries like China, Japan, and India were worst hit by the COVID-19 pandemic in the region. The COVID pandemic resulted in lockdowns in these countries, thereby affecting the paints and coatings, textiles, and printing inks, thus affecting the pigment market. However, the market recovered well after the restrictions were lifted. Recently, the market registered a significant growth rate due to rising demand for pigments in paints and coatings and textile applications.
- The growing demand from the paints and coatings industry, increasing demand from the textile industry, and the increasing demand for pigments from plastics applications are expected to drive the market.
- The stringent government regulations on the usage of pigments are expected to hinder market growth.
- The shifting focus toward eco-friendly products is expected to create opportunities for the market during the forecast period.
- China is expected to dominate the market due to the rising demand for pigments in paints, coatings, and textiles applications. It is also expected to register the highest CAGR during the forecast period.
