The global plastic pigment market is expected to be propelled by expansion in this Industry by a CAGR of 8% during 2023–2035.
Research Nester published a report titled “Plastic Pigments Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the global plastic pigments market in terms of market segmentation by type, end-use industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global plastic pigments market is anticipated to grow with a CAGR of ~8% during the forecast period, i.e. 2023-2035. The market is segmented by end-user industry into packaging, consumer goods, building & construction, automotive, and others. Out of these the automotive segment is expected to garner the highest market share by 2033, owing to the high demand and production of vehicles by the burgeoning population. Organization of Motor Vehicle Manufacturers, the global production of vehicles was 80,145,988 units in 2021. This is a rise from 77,711,725 units in 2020.
The global plastic pigments market is estimated to garner a noteworthy revenue by 2033. An increase in plastic production across the globe has leveraged huge adoption avenues for plastic pigments. Moreover, factors such as strong demand from the end-use industries, technological advancements coupled with high demand for High-Performance Pigments (HPPs) are expected to propel the plastic pigments market growth in the forecast period.
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Geographically, the global plastic pigments market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific region is estimated to garner the largest market share by the end of 2033, on the back of increasing demand of plastic products by the growing population and the presence of the major plastic manufacturing companies. Also, the export and import value of plastic products in APAC region along with the burgeoning population, growth in GDP level, increased investment in research and development activities are another growth factors of the market.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Expansion in the Production of Plastic Products to Drive the Market Growth
Major end-use industries including packaging, automotive, construction etc. are inclined towards high performance pigments that is expected to create growth opportunities for plastic pigments market. High performance plastic pigments has various advantages such as high insolubility, heat stability, color strength, low migration, and solvent fastness which makes it an ideal option in varied processes. Further, the recent growth in the end-use industries is anticipated to augment the adoption of plastic pigments, thereby driving the plastic pigments market growth over the forecast period. Additionally, the burgeoning population is expected to play a prominent role in driving the demand for apparels globally, which is expected to propel the demand for plastic pigments market from the construction sector.
However, the rising awareness of plastic waste along with the possibility of adverse effect on health and environment and stringent rules by government to protect the environment is expected to operate as key restraint to the growth of the global plastic pigments market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global plastic pigments market which includes company profiling of Clariant International Ltd, Ferro Corporation, Heubach GmbH, Huntsman International LLC, The Chemours Company LLC, LANXESS, Cabot Corporation, DIC Corporation, Tronox Holding plc, BASF and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global plastic pigments market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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