Global High Performance Pigments Market (2016-2022) GMI-RESEARCH

DUBLIN - Aug. 17, 2017 - PRLog -- The High Performance Pigments (HPPs) market is expected to witness double digit growth during the forecast period. The market stood at USD 4,967 million in 2016 and is projected to reach USD 5,969 million by 2021, exhibiting a CAGR of 3.7% during 2016-2021, on account of soaring demand for pigments with higher pigment concentration, durability, resistance to temperature, favorable regulatory environment as well as increasing utilization in industries such as textiles, pharmaceuticals and plastics, the key reasons positively impacting the market.

Organic Pigments Type – projected to dominate the market till 2021

Organic pigments segment is estimated to progress at a substantial rate in the coming years. The organic pigments ability to produce numerous vibrant colors and their excellent eco-friendly features are some of the important factors aiding enhanced usage of these pigments in various applications including plastics, coatings, and cosmetics. Moreover, defining characteristics of organic pigments such as lightness in weight, resistance to wetting, and high tinting strength are likely to boost the organic high performance pigments market by 2021.

Coatings Segment­ ­– Major application area, which is estimated to grab the largest pie in HPPS market

Rise in demand for automotive and decorative coatings across the globe is predicted to led the application segment command the market in the course of next five years. Additionally, surging production of automobiles over the last few years, especially in Asia-Pacific, has spurred the growth of automotive coatings. High performance pigments provide vibrant colors, brilliant luster, and superior hiding power; thereby, proving them to be the best fit for application in the coatings industry worldwide.

Asia-Pacific – The fastest growing region

Asia-Pacific is projected to be the fastest growing region in high performance pigments market during 2016-2021, due to the growing need for HPPs in various industries such as decorative and automotive coatings, plastics, textiles, cosmetics, inks, and constructions, thus stimulating the growth of HPPs market in the region. In addition, supportive government policies and regulations are some of the other major aspects likely to push HPPs market in the region. China, with the highest consumption of high performance pigments continues to hold the largest share in Asia-Pacific HPPs market on the back of augmenting automobile production in the country. Besides that, extensive research and development coupled with considerable investments by prominent manufacturers in the region have further attributed towards the growth of the market.

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