Pigments Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Pigments Market is segmented by Product Type (Inorganic, Organic, and Specialty Pigments, and Other Product Types), Application (Paints and Coatings, Textiles, Printing Inks, Plastics, Leather, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for pigments in revenue (USD million) for the above-mentioned segments.

Market Snapshot

Pigments Market Size
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >6 %
Pigments Market Key Players

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The global pigments market was valued at over USD 22 billion in 2020, and the market is projected to register a CAGR of over 6% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. The disruption in the global supply chain coupled with reduced demand from various end-user industries such as paints and coatings, plastics, textiles, and others has negatively impacted the demand for pigments. The paints and coatings industry was severely impacted, as the global automotive industry witnessed a decline in production in 2020, with approximately 77.6 million units, down by 16% compared to 2019. Additionally, reduced demand from the construction industry owing to work stoppages and labor shortages impacted the demand for paints and coatings, thereby impacting the pigments market.

  • In the medium term, the major factors driving the market studied are rising demand from the paints and coatings industry in Asia-Pacific and consistent industrial developments in the Middle East and Asia-Pacific regions.
  • On the flip side, factors such as stringent government regulations and the negative impact of the COVID-19 pandemic are expected to hinder the growth of the market studied.
  • Rising demand for reliable commercial products, like 3d printing material, is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market worldwide, with the largest consumption from countries such as China, India, and Japan.

Scope of the Report

The market is segmented by product type, application, and geography. By product type, the market is segmented into inorganic, organic, and specialty pigments, and other product types. By application, the market is segmented into paints and coatings, textiles, printing inks, plastics, leather, and other applications. The report also covers the market size and forecasts for the pigments market in 17 countries across major regions. For each segment, the market sizing and forecasts are done on the basis of revenue (USD million).

Product Type
Titanium Dioxide
Zinc Oxide
Other Product Types
Specialty Pigments and Other Product Types
Paints and Coatings
Printing Inks
Other Applications
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
United Arab Emirates
Rest of Middle-East and Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increasing Demand from the Paints and Coatings Industry

  • Pigments are majorly used in paints and coatings production. These are engineered, enabling them to withstand the tough demands without compromising the coating performance.
  • In the construction industry, architectural and decorative coatings account for the largest consumption of pigments in their production. Thus, rising construction and infrastructure activities in Asia-Pacific are major drivers for the pigment market.
  • Furthermore, in the automotive sector, paints and coatings are used in the interior and exterior parts of the vehicle, as they impart protection and appeal to vehicles. They are used in metallic parts, as well as plastic vehicle components of automobiles.
  • The primary reason for using automotive coatings is to protect the vehicle parts against various aggressive environmental agents, such as sunlight, corrosive materials, and environmental effects, such as acid rain, hot-cold shocks, stone chips, UV radiation can washing, and blowing sand. These coatings are used in automotive body shops and repair centers for vehicle refinishing.
  • According to the OICA data, global automotive production declined by around 16% and reached 77.6 million units in 2020. ​The car sales declined by around 13.8% in 2020 compared to 2019, reaching 77.97 million units.
  • However, with growing concerns related to environmental pollution from petrol and diesel-based vehicles, the production of electric vehicles is expected to pick up pace over the next five years, which is likely to drive the demand for the market studied over the forecast period.
  • All the above-mentioned factors are expected to have a significant impact on the market growth in the coming years.
Pigments Market Share

Asia-Pacific to Dominate the Market

  • Asia-Pacific dominated the market, primarily due to the increasing demand for construction activities in China and India.
  • In China, government spending has been increasing in constructing affordable housing facilities to cater to the housing demand. In India, the infrastructure sector has become one of the major focus areas for the government.
  • China is investing USD 1.43 trillion in the next five years till 2025 in major construction projects. According to National Development and Reform Commission (NDRC), the Shanghai plan includes an investment of USD 38.7 billion in the next three years. In contrast, Guangzhou signed 16 new infrastructure projects with an investment of USD 8.09 billion.
  • In China, demographics in the country are expected to continue to spur the growth in residential construction. Rising household income levels combined with population migrating from rural to urban areas are expected to continue to drive demand for the residential construction sector in the country.
  • India is still a developing economy; the construction sector is one of the booming industries in the country. The infrastructure sector is an important pillar for the growth of the Indian economy. The government is taking various initiatives to ensure the time-bound creation of excellent infrastructure in the country.
  • In India, the government is pushing huge projects in the next few years in the residential segment. The government’s ‘Housing for All’ initiative aims to build more than 20 million affordable homes for the urban poor by 2022, which will significantly boost residential construction. Smart cities mission is another major project undertaken by the government, which will construct more than 100 smart cities all over the country to achieve rapid urbanization in the country. In the 2021-22 budget, the smart cities mission has been given INR 6,450 crore against INR 3,400 crore in the 2020-21 revised estimates.
  • Thus, all such construction activities and favorable government measures are expected to boost the construction activities in the region, which is further projected to boost the demand for paint and coating, thereby increasing the demand for pigments.
Pigments Market Growth

Competitive Landscape

The market for pigments is consolidated with the top five players accounting for major market share. The major companies include DIC Corporation, The Chemours Company, Venator Materials PLC, KRONOS Worldwide Inc., and Clariant.

Recent Developments

  • In August 2019, BASF SE and the fine chemical company, DIC Corporation, reached an agreement on the acquisition of BASF’s global pigments business. The purchase price on a cash and debt-free basis is EUR 1.15 billion.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from the Paints and Coatings Industry in Asia-Pacific

      2. 4.1.2 Consistent Industrial Developments in Middle-East and Asia-Pacific Regions

      3. 4.1.3 Consistent Demand from the Textile Industry

    2. 4.2 Restraints

      1. 4.2.1 Stringent Government Regulations

      2. 4.2.2 Negative Impact of COVID-19

      3. 4.2.3 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Patent Analysis


    1. 5.1 Product Type

      1. 5.1.1 Inorganic

        1. Titanium Dioxide

        2. Zinc Oxide

        3. Other Product Types

      2. 5.1.2 Organic

      3. 5.1.3 Specialty Pigments and Other Product Types

    2. 5.2 Application

      1. 5.2.1 Paints and Coatings

      2. 5.2.2 Textiles

      3. 5.2.3 Printing Inks

      4. 5.2.4 Plastics

      5. 5.2.5 Leather

      6. 5.2.6 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Spain

        6. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. United Arab Emirates

        4. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ALTANA AG

      2. 6.4.2 DIC Corporation

      3. 6.4.3 Clariant

      4. 6.4.4 The Chemours Company

      5. 6.4.5 KRONOS Worldwide Inc.

      6. 6.4.6 LANXESS

      7. 6.4.7 Sudarshan Chemical Industries Limited

      8. 6.4.8 Venator Materials PLC

      9. 6.4.9 Tronox Holdings plc

      10. 6.4.10 Merck KGaA

      11. 6.4.11 Pidilite Industries Ltd

      12. 6.4.12 Lomon Billions

    5. *List Not Exhaustive

    1. 7.1 Shifting Focus toward Eco-friendly Products

    2. 7.2 Rising Demand for Reliable Commercial Products, like 3D Printing Material

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Pigments Market market is studied from 2016 - 2026.

The Pigments Market is growing at a CAGR of >6% over the next 5 years.

The Pigments Market is valued at 22 Billion USD in 2016.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Venator Materials PLC, KRONOS Worldwide, Inc., Clariant, The Chemours Company, DIC CORPORATION are the major companies operating in Pigments Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!