The pigments market is estimated to be valued at USD 4.69 Bn in 2025 and is expected to reach USD 7.34 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 6.6% from 2025 to 2032.
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The pigment market demand is expected to grow steadily during the forecast period. Pigments find wide applications in paints & coatings, printing inks, plastics, construction materials and others. Rise in construction and automotive industries in emerging economies of Asia Pacific and Middle East & Africa are expected to drive the demand for pigments. Growing demand for high performance pigments from industries like paints & coatings and plastics is also expected to support the market growth. However, stringent environmental regulations regarding VOC emissions during pigment production may hinder the market growth to some extent over the forecast period.
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Between November 2023 and October 2024, there were 23,828 global pigment export shipments, involving 1,781 exporters and 1,505 buyers—an 11% increase over the previous year.
In October 2024 alone, 2,010 shipments were recorded, showing a 2% year-on-year rise. Top destinations for pigment exports were Peru, the United States, and India. The leading exporters were Colombia (33,253 shipments), China (10,066), and the United States (6,814).
The paints and coatings industry has been one of the largest end users of pigments globally. Pigments are important components that are used in paints, coatings, plastics, inks, and other applications primarily to add color, opacity, and protective properties. The paints and coatings industry consumes a variety of pigments including titanium dioxide, carbon black, iron oxides, chrome pigments and others. This industry has been growing steadily over the past few decades driven by the robust growth in the construction industry as well as the manufacturing industry.
As the construction activities rise with increasing investments in infrastructure projects, commercial buildings and residential properties, it leads to higher demand for paints and coatings. Pigments help determine the key properties of paints including viscosity, fineness of grind, opacity, color development and tinting strength. Hence, as the paints industry expands, it contributes to the increasing consumption of pigments globally.
Moreover, manufacturers are continuously focusing on developing new pigments and enhancers to widen the color palettes for paints and introduce paints with better performance characteristics like self-cleaning, anti-microbial, etc. This stimulates the need for specialized pigments.
With the construction industry gaining momentum coupled with ongoing initiatives for infrastructure development, residential projects, and smart city missions, the demand for paints and coatings is expected to grow significantly. This rising uptake of paints and coatings would drive the pigments market upwards in the coming years.
The plastics industry has emerged as one of the major end-use sectors globally driving the growth of the pigments market. Plastic materials have extensively replaced traditional materials in myriad applications due to their advantageous properties such as low cost, lightweight, durability, resistance to moisture and chemicals.
Pigments play a pivotal role in plastic formulations by adding visual appeal and mechanical properties. They help impart color to clear plastic resins and compounds, provide UV stability, reduce gloss, enhance opacity, and also act as reinforcements in some cases.
The plastic products industry has been witnessing tremendous expansion fueled by the burgeoning demand from consumer goods, automotive, packaging, construction, and other industries. Rise in the single-use plastic production as well as growing consumption of specialty plastics have augmented the consumption of pigments.
In terms of pigment type, organic is expected to contribute 55.7% share of the market in 2025. Organic pigments have emerged as the pigment of choice, driven primarily by the increasing demand for environment-friendly and non-toxic pigments across various end-use industries.
Unlike inorganic pigments, organic pigments do not contain heavy metals and are considered safer options with minimal impact on human health and the environment. Stringent regulations globally are also favoring increased adoption of organic pigments.
Many countries and regions have either imposed restrictions or complete bans on pigments containing heavy metals like cadmium, chromium, lead, and mercury owing to their toxicity. This is significantly boosting the demand for organic pigments from the paints and coatings industry. Their non-toxic nature makes organic pigments compliant for various applications involving food packaging and consumer products.
Additionally, technological advancements have enabled organic pigment manufacturers to synthesize novel shades, improving the color palette available to end-use sectors. The growing health-conscious consumer behavior is another pivotal factor driving the organic pigments segment.
This trend is prominently observed in industries like paints and coatings, plastics and printing inks which utilize pigments on a large scale. Such evolving preferences are compelling manufacturers to incorporate organic pigments into their product portfolios in order to gain a competitive edge in the market.
For October 2024, Archroma innovated printing with renewable raw materials and safer chemistry. The specialty chemical company introduced the NTR Printing System for commercial bio-based pigment printing. Such innovations are accelerating the pigments market demand.
The global paints & coatings segment is expected to hold 37.2% share in the global pigments market in 2025, in terms of applications. Rapid urbanization and rising construction spending worldwide have augmented the demand for paints and coatings containing pigments. Structural growth projects including residential and commercial buildings, roads, bridges, and infrastructure development are influencing the paint consumption.
Pigments are integral to paints and coatings as they impart critical properties like color, gloss, opacity, and durability. The construction industry relies heavily on a wide variety of paints for both interior and exterior applications such as wall finishes, roof coatings, floor coatings, etc. Developing regions in Asia Pacific, Latin America, Eastern Europe, and Africa present lucrative opportunities, driven by robust economic growth, population expansion and improving standards of living.
Government initiatives promoting affordable housing and Smart City missions in these regions are boosting residential and civic construction activities. This, in turn, is driving pigments consumption across developing markets through increased paints demand. High-performance pigments are also witnessing growing adoption in the architectural coatings sector for applications requiring weather resistance, light fastness and UV stability. Maintenance painting of buildings further supplements the recurring demand for architectural paints and coatings augmented with pigments.
For instance, in July 2025, Nature Coatings developed a groundbreaking bio-based pigment called BioBlack that transformed the coatings industry. BioBlack was a 100% bio-based, high-performing, and carbon-negative alternative to the traditional petroleum-derived carbon black pigment.
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The pigments market is expected to grow steadily driven by the increasing demand from the paints and coatings industry globally. The growth in the construction and automotive industries will remain key drivers as paints and coatings find widespread use in these end-use sectors.
North America is anticipated to continue dominating the pigments market owing to the rapid industrialization and urbanization in countries like U.S and Canada. As disposable incomes rise in the region, the demand for products requiring pigments will also increase.
Stringent environmental regulations around the use of certain pigments restrain the market growth. This has led to increased R&D efforts by manufacturers to develop bio-based and naturally-sourced pigments. Water-based pigments are also gathering steam due to their low VOC content. Rising export focus of manufacturers in China and India is likely to open promising growth avenues for players in the pigments market
| Report Coverage | Details | ||
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| Base Year: | 2024 | Market Size in 2025: | USD 4.69 Bn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 6.6% | 2032 Value Projection: | USD 7.34 Bn |
| Geographies covered: |
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| Companies covered: |
BASF SE, Clariant International Limited, DIC Corporation, Huntsman International LLC, Tronox, Inc, Rockwood Holdings, Inc., Lanxess AG, Atlanta AG, Ferro Corporation, Merck, Pidilite Industries Ltd., Toyocolor Co. Ltd., Sensient Technologies Corporation, Trust Chem Co. Ltd., Vipul Organics Ltd., Qualitron Chemicals, Colors India, Navpad Pigments, Pure Chemicals, and Sparkem |
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Developing eco-friendly pigments provides a huge opportunity for growth in the global pigments market. With increasing awareness about environmental protection, consumers and industries alike are looking for more sustainable alternatives. Pigments produced from organic and natural sources can fulfill this demand while reducing toxicity. Many companies are innovating in this area.
For example, Titan Crayons has developed pigments made from fruit and vegetable wastes that would otherwise go to landfills. These eco pigments are biodegradable and produce fewer greenhouse gases during manufacturing compared to conventional petroleum-based pigments. Another start-up Air Ink uses carbon dioxide from air to create colorful inks and pigments. These innovations offer dual benefits of supporting a circular Bioeconomy while providing high performance pigments for paints, plastics, and more.
*Definition: The pigments market includes the manufacturing and distribution of various pigments that are added to raw materials like paints, plastics, inks, and other coatings to add color or other optical properties. The major product types in this market are inorganic pigments such as iron oxide, titanium dioxide, and carbon black as well as organic pigments including phthalocyanine blue, quinacridone red, and azo pigments.
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About Author
Yash Doshi is a Senior Management Consultant. He has 12+ years of experience in conducting research and handling consulting projects across verticals in APAC, EMEA, and the Americas.
He brings strong acumen in helping chemical companies navigate complex challenges and identify growth opportunities. He has deep expertise across the chemicals value chain, including commodity, specialty and fine chemicals, plastics and polymers, and petrochemicals. Yash is a sought-after speaker at industry conferences and contributes to various publications on topics related commodity, specialty and fine chemicals, plastics and polymers, and petrochemicals.
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