BASF SE (Germany), Clariant (Switzerland), E. I. du Pont de Nemours and Company (U.S.), Huntsman International LLC (U.S.), DIC Corporation (Japan), Cabot Corporation (U.S.), DyStar LP (U.S.), LANXESS (Germany), PolyOne Corporation (U.S.), Evonik Industries AG (Germany) and Sun Chemical Corporation (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Colorants Market.
Colorants Market – Overview
The Global Colorants Market is increasing with the impulsive pace; mainly due to the proliferation of paints & coatings industry. According to a recent study report published by the Market Research Future, The global market of Colorants is booming and expected to gain significance over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).
Globally, the market for Colorants is driven by the region Asia pacific, owing to the rise in the population resulting in to increasing demand for colorants in textile industries. Colorants are compounds that impart color to a substance and it can be a pigment, a dye, or an ionized solution. They alter appearance either by selective absorption and scattering of light of the substrate. Colour intensity, gloss, hiding power, light fastness and weathering resistance are the other properties which can be maximized by utilizing colorants for various applications.
The Global Construction Market is anticipated to increase speedier than than world GDP over the next forecast period is anticipated. As Asian economies continue to industrialise and the US recovers from the sharp downfall during the global financial crisis. This is expected to the use of colorants incorporated paints & coatings for different purposes in the global construction industry. Moreover growing industries such as automotive, packaging, and paper & printing provide momentum to the Colorants Market growth.
On the other hand, the negative impact of aqueous waste containing colorants is observed to impact environment adversely when entered into ecosphere owing to the presence of harmful substances is expected to hamper the growth of the market.
Some of the prominent factors that positively influence the growth of pigment coatings based colorants market is increasing across refineries owing to the demand for protective colorants which are resistance to acid, alkali, detergents and lubricants in chemical plants, and rising demand for UV protection coatings for aircraft carriers.
Pigments are most widely used colorants in paints & coatings industry after that dyes used in textile industry is most popular.
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Colorants Market – Competitive Analysis
Colorants market in the forecast appears to be less competitive with the presence of only few major global chemicals and materials manufacturers are significant. Presence of few key players will lead to monopoly situation and also competitive edge in innovation and technology is expected to be indelicate. As some of these materials are pricing at higher costs in the current markets and increasing demand for colorants in paints & coatings and textiles industries will influence the end user products from these industries. Colorants market demonstrates a high growth potential as the demand for these materials is increasing other key players are likely to invest in opening new production capacities to meet the global demand with better solutions.
Industry/ Innovation/ Related News:
September 2012 – Clariant, Switzerland based speciality chemicals manufacturer is the global leader in manufacturing paint pigments, has today announced to increase products prices globally for the products containing titanium dioxide and carbon black pigments (REMAFIN®, RENOL®, CESA®, HiFormer® & MEVOPUR®) by 5-10 % a price increase globally for all products containing titanium dioxide and/or carbon black pigments by between 5%-10%. This is anticipated to impact heavily on the company growth and future investments by customers.
April 2017 – BASF SE (Germany), is the key manufacturer of colorants in the world, has announced to start a strategic long-term partnership with Landa Labs at the European Coatings Show (ECS) in Nuremberg, Germany. Under this exclusive agreement, BASF will employ Landa’s revolutionary nano-pigment technology in a new portfolio of easy dispersible ultra-high transparency pigments marketed under the Colors & Effects brand. This groundbreaking development will offer unprecedented color depth while significantly simplifying the production of automotive coatings.
March 2017 – Evonik Industries AG (Switzerland) is one of the leading producer of paints & coatings, has announced that they have found a new technology to increase the compatibility between pigment and substrate. Many pigments have good binding properties with almost all coatings except alkyd resin coatings remain unsolved. Unlike dyes, pigments do not readily bind with substrate as they are binded physically but not chemically. Evonik Industries AG introduced a new product TEGO® Color Aid which can be used in the formulation to increase the pigment concentrate, colour retention capacity and the binder strength. This cutting edge technology allows the Evonik Industries AG to penetrate into the present scenarios paints & coatings industry’s problems and increase the number of paint pigments coatings application in various industries. This is also strongly going to impact other competitors to sustain in the global paint pigment coatings business.
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