The global pigment dispersions market size is projected to reach USD 44.4 billion by 2026 from USD 37.1 billion in 2021, at a CAGR of 3.7% during the forecast period. The pigment dispersions market is projected to register positive growth during the forecast period, mainly due to the developing building & construction, automotive, packaging, and textile industries. Increasing demand for paints & coatings and construction materials in emerging economies is also driving the pigment dispersions market.
Furthermore, the growing demand for organic pigments in paints & coatings and printing inks applications is positively influencing the market. Rapid industrialization in emerging economies such as APAC and South America is expected to provide huge opportunities for the pigment dispersions market.
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Pigment dispersion is a preparation which comprises of pigment concentrates, the dispersion medium, and others (additives, carrier resins, and binding agents). These are produced by dispersing organic or inorganic pigments. Pigments undergo optimal dispersion to provide superior properties such as high color intensity, heat resistance, transparency, and high durability to its various applications. Pigment dispersions are majorly used in paints & coatings, inks, and plastic applications due to their superior properties. BASF SE (Germany), DIC Corporation (Japan), Sudarshan Chemical (India), Chromaflo (US), Cabot Corporation (US), Heubach GmbH (Germany), Penn Colors (US), Pidilite (India), Lanxess (Germany), and DyStar Corporation (Singapore) are the major players in the market.
Based on dispersion type, the pigment dispersions market is segmented into water-based pigment dispersions and solvent-based pigment dispersions. The solvent-based pigment dispersions segment is the largest, which is projected to continue till 2026. The key growth driver of the high consumption of these pigment dispersions is owing to their low surface tension, which makes the wetting of pigment particles easier. Solvent-based dispersions have various functional properties such as high print quality, fast-drying, and adhesion to many substrates. Solvent-based dispersions are mostly used in the printing and automotive industries.
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Based on application, the pigment dispersions market is segmented into decorative paints & coatings, industrial paints & coatings, automotive paints & coatings, inks, plastics, and others. The decorative paints & coatings segment is the largest, which is projected to continue till 2026. The key growth driver of the high consumption in this segment is owing to their demand in residential and non-residential building construction. They are primarily used on the interiors and exteriors of various residential and non-residential buildings. Residential construction is projected to be the leading consumer of decorative coatings due to the increasing demand for new painting and repainting of residential constructions and the rapid growth in homeownership in emerging countries.
Based on end-use industry, the pigment dispersions market is segmented into building & construction, automotive, packaging, paper & printing, textile, and others. The building & construction sector is the largest consumer of pigment dispersions. The high demand in this segment is attributed to its wide variety of applications in the building & construction sector. In the building & construction industry, pigment dispersions are used in pavers, flooring, tiling, bridges, pipe & panels, and precast walls. Pigment dispersions provide heat stability, chemical inertness, weatherability, and lightfastness properties. In this industry, pigment dispersions are widely used in residential, commercial, industrial, and institutional buildings. Growing awareness and the booming business of interior decoration drive the use of pigment dispersions in interior designing.
APAC is the largest market for pigment dispersions. This large market share is primarily attributed to emerging economies, such as India, China, Indonesia, Malaysia, Vietnam, and Thailand, in the region, where demand for new infrastructure is increasing rapidly. Moreover, growth in population and increasing urbanization rate are also driving the construction sector. In addition, growth in industrialization, increasing demand due to changing demographics, and government initiatives to attract business investments in industries such as packaging, textile, and automotive are also driving the market for pigment dispersions in the region.
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