The color concentrates market is projected to reach USD 5.80 Billion by 2021, at a CAGR of 6.5% from 2016 to 2021. The color concentrates market has witnessed high growth in the recent years, and this growth is projected to continue in the near future.
Seattle, WA -- (SBWIRE) -- 04/27/2017 -- The report "Color Concentrates Market by Form (Solid and Liquid), End-Use Industry (Packaging, Consumer Goods, Building & Construction, Automotive), Region (Asia-Pacific, Europe, Middle East & Africa, North America, South America) - Global Forecast to 2021", The color concentrates market was valued at USD 4.24 Billion in 2016 and is projected to reach USD 5.80 Billion by 2021, at a CAGR of 6.5% from 2016 to 2021.
Browse 81 market data tables and 58 figures spread through 143 pages and in-depth TOC on "Color Concentrates Market - Global Forecast to 2021"
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The increasing use of color concentrates for coloring plastics is driving the growth of the color concentrates market. Moreover, growing importance given to the aesthetics in the packaging industry is another driver fueling the growth of the color concentrates market.
Among forms, the solid segment is the leading the color concentrates market.
Among forms, the solid segment is leading the color concentrates market during the forecast period. The growth of the solid segment of the color concentrates market can be attributed to various properties offered by solid color concentrates, which include, low price, less let down ratio, inexpensive investments, dry nature, ease of transportation and storage, excellent color control, and reduced waste, among others.
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Among end-use industries, the packaging segment is leading the color concentrates market.
The packaging end-use industry is leading the color concentrates market. The growth of the packaging end-use industry segment of the color concentrates market can be attributed to increased use of color concentrates for coloring plastics used for packaging various types of products. Use of color concentrates of different shades for packaging enhances the product appeal of goods. A high degree of aesthetic appeal of products not only helps in product differentiation but also influences preferences of customers.
The Asia-Pacific color concentrates market is projected to grow at the highest CAGR during the forecast period.
The Asia-Pacific region is a lucrative market for color concentrates. The growth of the Asia-Pacific color concentrates market is due to increased demand for color concentrates from various end-use industries, such as packaging, consumer goods, building & construction, and automotive, among others. Moreover, industrial growth in the Asia-Pacific region, along with increasing buying power of consumers has further boosted the demand for color concentrates in the region, thereby fueling the growth of the Asia-Pacific color concentrates market. China is the largest market for color concentrates in the Asia-Pacific region, whereas the India color concentrates market is projected to grow at the highest CAGR during the forecast period.
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Key Players in the Color Concentrates Market
The key market players operating in the color concentrates market are Clariant (Switzerland), PolyOne Corporation (U.S.), A. Schulman, Inc. (U.S.), Ampacet Corporation (U.S.), Ferro Corporation (U.S.), Breen Color Concentrates (U.S.), Hudson Color Concentrates (U.S.), Penn Color, Inc. (U.S.), Colortech Inc. (U.S.), and Plasticoncentrates, Inc. (U.S.), among others.
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