The pigments market is poised for continued growth and advancement globally in 2018. According to a report released by Ceresana, a leading market consultancy and research firm, the global market for pigments would generate approximately $34.2 billion in 2020. The report further indicated that the inorganic and organic pigments markets will witness massive growth, since they’re majorly linked to the construction industry’s growth and success. Thus, it goes without saying that the pigments market will continue to grow and expand in the years to come. Here, discover the top trends for global pigments market in 2018.
Trends to Watch Out for in 2018
Pigment manufacturers can look forward to sustained growth and development in the global pigments market in 2018. According to market experts, the manufacturers of pigments India-wide will witness an increased demand for biopigments, sustainable paints as well as pigments colours that offer functional advantages.
Increased Demand for Biopigments: Pigment manufacturers will witness a surge in demand for organic or biopigments in 2018. Both, cosmetic manufactures India-wide as well as consumers who’re deeply concerned about their safety and health will look forward to invest in organic pigments in 2018, despite its high price. The inorganic pigment colours contain chromium, lead as well as cadmium and are excellent for users who’re searching for colorfast pigments. However, they affect the environment negatively. As a result an increased number of manufacturers are focusing on manufacturing biopigments to minimize the emission of Volatile Organic Compounds. In fact, experts suggest that the manufacturers are consciously using bio based substances to protect themselves against the volatile prices of oil as well as to minimize carbon emission.
Growth of Sustainable and Premium Quality Paints: Coatings and paints require pigments in large quantities, as it further imparts them with the desired level of finish and color. Additionally, pigments also enable paints as well as coats to safeguard different surfaces against harmful weather and corrosion. As a result, pigment manufacturers are witnessing the growth of sustainable and premium quality paints. Consumers are increasingly searching for industrial quality paints with reduced level of lead components and compounds. In fact, there’s any increased demand for coatings and paints with low Volatile Organic Compounds since hydrocarbons cause massive environment pollution. A good number of manufacturers are now emphasizing on meeting the compliance and regulatory standards for producing sustainable paints with ecological and appropriate labels. This is further helping consumers in making an informed choice. This trend will continue in 2018 as well, as more and more consumers will look forward to using high quality, affordable and sustainable paints to meet their requirements.
Demand for Pigment Colours with Functional Advantages: There’s a surge in demand for inorganic pigment colours for enhancing the aesthetics as well as the functional value of paints and plastic based products. Such pigment colours help in safeguarding against dampness, fungi, harsh weather conditions, corrosion as well as other harmful effects on the walls of a building. This is precisely why pigment manufacturing companies are witnessing an increase in demand for pigment colours that offer functional advantages.