Dyes, pigments, paints, and coatings are materials that provide finishing characteristics to any component or product. Color is imparted to a substance by dyes and pigments by reflection of light of a particular wavelength. The shade of the color imparted to the substance depends on the amount of light reflected, which means that if a substance reflects more light, it will be a dark shade. In case of pigments, light scattering is dependent on factors such as particle size and refractive index of pigments and its binders. Paints and coatings are applied to surface of various substances to enhance durability and performance of the products.

Market Dynamics

Increasing demand for dyes, pigments, paints, and coatings from various end-use industries such as automotive, aviation, aerospace, railway, marine, building and construction, medical and healthcare, personal care, furniture, printing, labeling, polymers, and metal is a major factor driving growth of the dyes, pigments, paints, and coatings market.

However, high price of raw materials required for manufacturing of paints & coatings and stringent environmental regulations for industries that produce dyes and pigments are major factors that restrain growth of the dyes, pigments, paints, and coatings market.

Market Outlook

Asia Pacific region accounts for largest market share in the dyes, pigments, paints, and coatings market. It is expected to witness significant growth, owing to increasing demand for paints and coatings from construction industry and increasing disposable income in the region. Moreover, Latin America is expected to be the second fastest growing region in the market, owing to growing textile industry in the region.

The production of dyes, pigments, paints, and coatings by greener methods and usage of bio-based raw materials is expected to offer major opportunities for key players in the market. These factors are expected to have positive impact on the market share of key players and their influence in various end-user applications in the near future.

Key Players

Key players are adopting various strategies such as new product launches in order to retain its position in the global dyes, pigments, paints, and coatings market. For instance, AkzoNobel N.V. launched a new digital tool, DryDoQ Insights, which helps owners and operators of shipping fleets in precisely predicting the condition of a vessel’s underwater hull without the need for visual inspection.

Some of the major players operating in the dyes, pigments, paints, and coatings market include BASF SE, Clariant AG, Atul Limited, Sudharshan Chemicals Industries Limited, DIC Corporation, Huntsman Corporation, Kiri Industries Ltd., Kronos Worldwide, Inc., Lanxess AG, AkzoNobel N.V., Axalta Coatings Systems, Asian Paints, Nippon Paint Holdings Co., Ltd., The Sherwin-Williams Company, and Tronox Limited among others.

Key Developments

  • In July 2019, Achroma, a specialty chemical company launched Foron SP-WF, a wet-fast disperse dyes for active wear and sportswear applications.
  • In September 2019, Clariant AG, a specialty chemicals company, launched a range of 25 organic pigments for compostable and biodegradable polymers. These pigments are compliant with the European Norm 13432.
  • In October 2019, Dulux Trade, a paint manufacturer collaborated with Veolia UK, a provider of environmental solutions, to launch matt emulsion known as Evolve which is made from 35% recycled paint. This paint produces 10% lower carbon emissions per liter.
  • In October 2019, Alltimes Coatings Ltd., a manufacturer of coatings and sealants launched Advantage Graphene liquid coatings for anti-corrosion application.
  • In September 2019, DIC Corporation a manufacturer of pigments, polymers, inks, biochemicals and specialty plastics based in Japan, announced its plans to acquire global pigments business units of BASF SE for US$ 1.28 billion. This transaction is estimated to close by fourth quarter of 2020.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users