International. The size of the pigments market is estimated to exceed $18 billion by 2025, according to a new research report from Global Market Insights, Inc.
The pigments market will witness promising gains during the forecast period due to its growing demand in the construction industry. Concrete is an indispensable part of the construction industry, which is produced from cement. Iron oxide is mainly used for coloring concrete. In 2017, U.S. cement production was 86.3 million tons, up from 85 million tons in 2016. In addition, it is likely to experience a significant growth rate during the forecast period, owing to the increase in U.S. government spending on public infrastructure, which will positively influence the pigments market in the coming years.
The dye market is mainly regulated by environmental and construction organizations. There are several safety issues regarding the handling and storage of pigments. For example, iron oxide black contains bivalent iron and can undergo oxidation, which leads to an exothermic reaction. It is kinetically restricted and only starts at elevated temperatures. For this reason, the storage temperature of the product should not exceed 80 ° C. In addition, chemicals such as quinacridone are highly insoluble in water and organic solvents, which makes their biodegradation process very slow. In addition, increasing regulations favoring low-volatility organic compounds (VOCs) as an ingredient in paints and coatings has impacted the size of the global pigment market.
Pigments such as iron oxide have gained importance in the construction industry in recent years due to their pure tone and dye strength. Therefore, the consumption of iron oxide is higher in the building materials industry. They are mainly used in cobblestones, checkered tiles, patterned concrete and designer tiles. One of the most important applications of pigment in the construction industry is the coloring of concrete due to its high dispersibility and superior dyeing properties. Just by varying the proportion and quantity, color differentiation can occur in specific materials.
Special pigments will witness substantial growth during the forecast period, due to their unique properties that are irreplaceable by organic or inorganic alternatives. These provide metallic tones and other special effects such as color change that are increasingly popular in a wide range of consumer products.
The paints and coatings industry generated the maximum revenue for the pigment market in 2017. This application segment is slated to witness the maximum gains in the global dyes market during the forecast period. Printing inks are also an important application of the pigment market. These pigments are used in printing inks to create product packaging that attracts consumer attention and differentiates products from manufacturers competing for shelf space in retail establishments.
Asia Pacific led the global pigments market in 2017 in terms of volume and revenue. The ever-growing construction industry in Asia Pacific will primarily drive product demand in the coming years. The increase in per capita income of consumers, particularly in BRICS, has resulted in increased spending in the real estate industry, which has driven the growth of the construction industry in these countries. This will increase the demand for dyes in construction during the forecast time period.
