The pigment dispersions market size is estimated at USD 42.2 billion in 2019 and is projected to reach USD 54.3 billion by 2024, at a CAGR of 5.2%. The major restraints of the pigment dispersions market is volatility in raw material prices and various environmental regulations such as REACH (Europe), CLP (Europe), the Environmental Protection Act (India), and The Portuguese Law NP. These regulations mandate proper waste treatment of the pigments
Innovation and technology advancements in pigment dispersions have led to various improvements in terms of good gloss, increases strength, and stabilized viscosity of the pigment.
Recently, UV curable pigment dispersions have been developed. UV curable pigment dispersions are dispersions of ultrafine pigments with benzene free, low VOC monomers with nano scale or sub-micron particle size. These ultrafine UV pigment dispersions have good transparency and high gloss. They are applicable in UV digital inks, 3D printing inks, packaging printing, glass and metal printing, and UV coatings.
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On the basis of application, the pigment dispersions market is segmented into paints & coatings, printing inks, plastics, and others (laminates, rubber, and glass). Paints & coatings application has the largest share in the overall market. The market in this application is driven by the huge investment in the building & construction industry in the emerging economies.
APAC is projected to be the fastest-growing pigment dispersions market. This high growth is mainly driven by the high demand from the building & construction industry in developing countries. The demand for pigment dispersions is high in developing economies such as China and India.
APAC is emerging as the fastest-growing market with economic development in countries such as India, China, South Korea, Japan, and Indonesia. Recent infrastructure developments and industrialization activities in the emerging countries have opened new avenues and opportunities for pigment dispersions manufacturers. The growth in infrastructure development projects has stimulated the demand for paints & coatings.
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