International. The global inorganic pigments market was valued at US$20,702.6 million in 2017 and is expected to grow at a CAGR of 3.7% from 2018 to 2026, according to a new report titled 'Inorganic Pigments Market: Analysis of Global Industry, Size, Share, Growth, Trends, and Expectations, 2018-2026, published by Transparency Market Research (TMR).
Significant expansion in the paints and coatings industry in developing economies is estimated to drive the global inorganic pigments market. The increase in per capita consumption of paints and coatings in India, China, ASEAN, Singapore, GCC and South Korea is fueling the demand for inorganic pigments in these countries.
Between paints and coatings, the demand for decorative and industrial paints is anticipated to increase significantly in the near future due to advances in housing construction and infrastructure development. Advances in the marine products, furniture and consumer goods sectors are also driving demand for industrial paints.
The use of paints and coatings in car finishes is expected to drive the demand for inorganic pigments due to the excellent color effect and anti-corrosion properties of these pigments. The application of inorganic pigments on car bodies provides intensity, brightness and color fastness.
Emerging economies such as China, India and Mexico have experienced a significant increase in automotive production since recent years. Increased foreign investment in developing economies has boosted the automotive industry in these countries. The increase in demand for high-quality automotive repair coatings has driven the demand for inorganic pigments for use in coatings employed in automotive refinishing.
Titanium dioxide is a highly consumed inorganic pigment due to its characteristics such as high gloss, whiteness and opacity. It scatters all visible spectra of light efficiently. Excellent resistance to chemical attacks is the key factor driving the demand for titanium dioxide pigments.
