The global inorganic color pigments market size is expected to witness potential gains in the future, and register a significant CAGR of 4.2% over the forecast period (2019 - 2027).
Inorganic color pigments are produced from compounds obtained from inorganic metallic compounds and salts such as chromates, metallic oxides, and sulphates. These pigments are either derived from natural sources or are synthesized. Iron oxide and chrome oxide pigments are characterized by their weather stability and chemical resistance. The demand for inorganic color pigments is increasing due to factors such as growth in urbanization that leads to high demand for paints and coatings, building materials, and plastics.
Among types of inorganic color pigments, titanium dioxide is mainly used for paints and coatings. Iron oxide is one of the most commonly used inorganic color pigments. Among applications, printing inks accounts for major share in the market. Increasing demand for inorganic color pigments from various end-use industries is expected boost growth of the global inorganic color pigments market. Inorganic color pigments are highly durable bright colors made for high-demand engineered applications such as plastics, coatings, and ceramics. Moreover, their heat resistance and chemical resistance properties promote their use in various industries such as coil coatings, powder coatings, industrial coatings, architectural coatings among others.
Inorganic color pigments are chemically inert and non-toxic. Therefore, increasing focus on use of eco-friendly pigments may also contribute to the market growth. Moreover, the cost of producing inorganic color pigments is much less as compared to organic pigments.
However, inorganic color pigments have a very short life. This is a major factor retraining growth of the market. Presence of substitutes such as organic pigments and specialty pigments may also adversely impact the market growth.
Among region, Asia Pacific is expected to account for major market share during the forecast period. This is owing to increasing infrastructure development activities in countries such as India and China. Powder inorganic color pigments are mainly used in the coloring of various construction materials as these pigments are insoluble in water and diluted acids and are resistant to cement, lime, and alkaline. The market in Europe is expected to be driven by increasing automobile production. Application of inorganic color pigments on automotive bodies gives tinting strength, brightness, and fastness.
Key players operating in the inorganic color pigments market include, Ferro Corporation GmbH, Shepard Color Company, Bayer AG, Rockwood, Atlanta AG, Apollo Colors, Honeywell International, and Todo Kogyo.
Inorganic Color Pigments Market Key Developments