Market Growth Analysis Of The Global Pigment Industry.
The global pigment industry produces hundreds of colorants, extenders and functional pigments for a wide range of industrial and consumer markets. The export of organic pigments is printing inks, followed by coatings and plastics. The faster-growing industries are expected to be coatings and plastics, especially in Asia. From 2017 to 2022, global organic pigment consumption is expected to grow at a rate of 2-3% per year.
On a global scale, printing inks account for about half of total demand, coatings account for about a quarter, and plastics and other industries such as textiles account for the rest. Due to competition from the Internet, the printing market for newsprint and journal publishing has declined, but demand for packaging printing inks remains strong. The importance of aesthetics in packaging has grown due to the need for product differentiation due to the high level of competition in the food, beverage and consumer goods industries.
The coatings market is primarily automotive OEM coatings. After bottoming out in 2009, global auto production began to rise again in 2010, with an annual growth rate of approximately 4% in 2010-14 and an annual increase of 3% in 2014-17. The consumption of organic pigments in coatings, at a similar rate, increases at a similar rate. Other coating markets include automotive refinish, architectural coatings and traffic coatings. The plastics market is also expected to grow, especially as demand for automotive applications increases.