Market Research Report Global Pigments Market | Page 2

income has boosted the consumption of paints and coatings in building & construction,
automotive, and consumer goods industries over the last few years. This, in turn,
generated considerable demand for pigments in the paints & coatings segment, making
it the leading end-user segment in 2017.
Surge in production and consumption of plastics across the globe to offer
attractive growth opportunities
Plastics is one of the major consumers of pigments. Pigments form an integral part of the
plastics industry. Pigments impart unique appearance and styling effect to plastic
products. Pigments are employed as colorants in a wide range of plastics, owing to their
excellent compatibility with several types of plastics. Besides coloring effect and improved
aesthetics, pigments increase the stability of plastics and improve resistance of plastics
to climatic conditions such as heat and moisture. Thus, rise in the production of plastics
plays a key role in driving the demand for pigments. Consumption of plastics has
increased substantially in both developed and developing countries over the last few
years. Factors such as economic growth, rise in disposable income, and rapid
urbanization in developing countries such as China, India, Brazil, and South Africa are
projected to drive the demand for plastics during the forecast period.
Asia Pacific has been a leading consumer of plastics over the last few years.
Consumption of plastics is estimated to increase also in developing countries of Latin
America and Middle East & Africa in the next few years. Thus, increase in plastics
production is likely to drive the market for pigments during the forecast period.
Stringent environmental and health-related regulations associated with pigments
to hamper pigments market
The pigments market is highly influenced by strict government monitoring and health-
related regulations. These hamper the pigments market. Pigments contain heavy metals,
which makes them pose a threat for human health and the environment. Growth of the
pigments market, especially the inorganic segment, can be hampered by environmental
effects and toxicity associated with heavy metals used in metal oxides, mixed metal
oxides, and metallic pigments. Heavy metals include lead, chromium, cadmium, and
mercury. Human exposure to these metals can cause cancer or liver diseases. Disposal
of heavy metals during the pigment production leads to pollution. Prolonged exposure of
skilled labor to heavy metals can cause severe occupational hazards.
Asia Pacific dominates global pigments market
Among regions, Asia Pacific held a major i.e. 44.9% share of the global pigments market
in 2017 and its share is anticipated to increase during the forecast period, owing to
increase in the demand for pigments from China, India, and Japan. Asia Pacific is followed
by Europe. Demand for pigments in Europe is increasing and manufacturers are likely to
witness lucrative opportunities in the Europe market, due to increase in construction