Pigments Market 2015 Share, Trend, Segmentation and Forecast to 2023 Pigments Market - Global Industry Analysis, Size, | Page 2

increase in countries such as India, China, South Korea, Singapore, ASEAN, and GCC
at an impressive rate. This will subsequently boost pigments sales in the
aforementioned countries.
Demand for paints is mainly expected to rise from two sectors: Industrial and
decorative. Since developing countries provide substantial scope for housing
construction and infrastructural development, demand for decorative paints in
these nations is generally high. The demand from the industrial paints segment on
the other hand is driven by the consumer goods and automotive sectors. These
factors will up opportunities for the pigments market in Asia Pacific.
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Asia Pacific’s Position as Largest Producer of Organic Pigments Sealed its
Dominance in Global Market
Growth witnessed by the pigments market in Asia Pacific has been exemplary. The
region, in 2014, emerged as the largest consumer of inorganic pigments, which
constitute a major share in the market by product. Additionally, in the global
pigments market Asia Pacific held a dominant share of 44.2% in 2014. Economies
such as India, China, South Korea, Indonesia, Malaysia, Thailand, and Australia have
been at the fore of fuelling demand for pigments from the region.
Rapid industrialization, increasing infrastructural development, and economic
progress in emerging countries have been steering the market for pigments in Asia
Pacific. Besides exhibiting lucrative opportunities for inorganic pigments, Asia Pacific
has also registered its name as the major producer of organic pigments. India and
China over the years have successfully evolved as strong bases for production of
organic pigments. Being the largest producer of plastics has also helped Asia Pacific
in helming its position as the dominant regional market.
A high degree of competition prevails in the global pigments market. The market is
highly fragmented with the presence of several large companies with low profit
margins. Some of the leading companies operating in the market include Altana AG,
BASF SE, Carl Schlenk AG, MERCK Group, and others.
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