The in-depth research and high level analysis will allow pigments manufacturers, marketing companies, and research and development agencies to make informed decisions about pigments manufacturing, marketing, growth strategies and gain competitive advantage.
Albany, NY -- (SBWIRE) -- 02/15/2016 -- Pigments are one of the components of the colorant industry, chiefly categorized as organic pigments, inorganic pigments and specialty pigments. These pigment types are further sub segmented according to their chemical name, color and a number. Nevertheless, all these three types of pigments have to compete with each other and with the dyes market.
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The global pigments market has grown significantly over the past few years. However, volatility in the prices of raw materials will affect the future growth of the market and trends. Rising cost of raw materials and ultimately pigments price is having an effect on the application market. Customer demand for pigment purity and safety is steadily increasing and hence pigment manufacturers can expect growing demand for providing regulatory support to customers. Furthermore, there is increase in popularity of energy efficiency and energy saving solutions. In many countries, local regulatory authorities are intervening more consistently and are taking stipulated actions in case of breach of any environmental regulations during production of pigments.
This serves as an opportunity for the firms which have shifted to more eco-friendly methods of production to gain market share. There is increase in demand towards use of more specialized and unique end-use pigments. Small and niche players are also focusing on increased usage of specialized pigments such as thermochromic pigments and daylight fluorescent pigments. Also, due to production optimization and streamlining measures, many customers are inclined towards solvent-borne and water-borne dispersions rather than pigment powders. This trend is forecast to increase in the next few years. With the advent of new coating technology such as water-borne paint in which pigments must perform to their expected level, the demand is expected to rise in the coming years.
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The chemical industry is witnessing a positive growth trend as the World Bank forecasted global economic growth of 2.5% in 2012 whereas estimated growth in 2011 was 2.7%. Major markets such as the U.S. and China have observed annual increase in GDP of about 2.8% and 2.4% respectively in the fourth quarter of 2011. This increase in GDP has positive impact on the global pigments industry. There is a significant degree of regulatory intervention in the pigments industry. Hence, pigment manufacturers look forward to produce chemicals that are environment friendly and safer compared to existing products. Bans and regulatory impositions have been introduced in recent years on the usage of a wide range of pigments such as cadmium pigments, lead sulfochromate yellow and lead chromate molybdate sulphate red.
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The European Union (EU) is one of the most active regulatory bodies imposing strict curbs on use of cadmium pigments, lead (Pb) and its compounds, aromatic amines classified as CMR category 1 or 2 and their salts, dyes and pigments containing CMR 1 or 2 classified aromatic amines. The restriction imposed is due to its adverse effect on human health. These are controlled through legislations such as Restriction on Hazardous Substances (RoHS) in Electrical and Electronic Equipment, the Waste Electrical and Electronic Equipment (WEEE) directive and the European chemical registration legislation REACH (Registration, Evaluation, Authorization & Restriction of Chemicals).
Apart from the EU, many other nations such as the U.S., Japan and China have also put forth strict guidelines to regulate the use of chemicals to safeguard the environment.
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