Market Size of Pigments Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 30.23 Billion |
| Market Size (2029) | USD 34.86 Billion |
| CAGR (2024 - 2029) | > 2.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pigments Market Analysis
The Pigments Market size is estimated at USD 30.23 billion in 2024, and is expected to reach USD 34.86 billion by 2029, growing at a CAGR of greater than 2.80% during the forecast period (2024-2029).
- COVID-19 had a negative impact on the market in 2020. The disruption in the worldwide supply chain, combined with lower demand from numerous end-user industries such as paints and coatings, plastics, textiles, and others, hampered pigment demand.
- However, the market recovered as consumers spent more time at home and focused on home remodeling projects, and the residential construction sector recovered. Protective and sanitizing coatings are in high demand due to growing concerns about cleanliness and hygiene.
- In the medium term, the significant factors driving the market studied are rising demand from the paints and coatings industry from developing nations and rising applications of complex inorganic color pigments in various applications.
- On the flip side, factors such as stringent government regulations and anti-dumping duties on pigments are hampering the market growth. Moreover, factors such as shifting focus towards eco-friendly products and rising demand for 3D printing materials are acting as an opportunity for the studied market.
- Asia-Pacific dominated the market worldwide, with the most significant consumption from countries such as China, India, and Japan.
