BASF SE (Germany), and Clariant AG (U.S.) are leading players in the global high performance pigments market
The
global high
Performance Pigments (HPPS) Market size was USD 4.56 billion in 2015 and is projected to reach USD 5.71
billion by 2021, registering a CAGR of 3.81% between 2016 and 2021. Key strategies such as expansions and
new product launches are adopted by the major players to meet the demand of end
users. The major HPPs manufacturers are also focusing on merger &
acquisition activities to strengthen their market position by increasing their
share in the HPPs market.
“High
Performance Pigments Market, by Type (Organic - Benzimidazolones, Quinacridones, Perylenes,
DPP
and Inorganic/Metallic - Bismuth Vanadate, Cadmium), Application (Coatings,
Plastics, Inks, Cosmetic Products)—Global Trends & Forecasts to 2021”.
The coatings application segment accounted for the
leading share of HPPs market in 2015. Other applications such as plastics,
inks, and others also account for a significant share of the overall market.
The use of HPPs in cosmetic products and in the textile, industry is in their
initial phase and are expected to grow significantly.
Cosmetic products are the fastest growing application
of HPPs. The demand for these pigments is increasing in cosmetic products, as
the consumers seek products that have less or no harmful effects. Cosmetics
made from conventional pigments are toxic and can cause health hazards, this
encourages consumers to pay more for these better-quality products, thereby,
propelling the growth of the HPPs market in the segment.
Organic HPPs are the most-widely used HPPs and are
expected to continue dominating the market during the forecast period. It is
also projected to witness the highest growth rate during the forecast period on
account of their environmentally-friendly features and increasing demand from
applications such as cosmetic products and plastics. Increasing the production
of environmentally-friendly HPPs, is a major opportunity for the HPPs
manufacturers.
Asia-Pacific held the largest share of the global HPPs
market, in terms of value, in 2015. Asia-Pacific is closely followed by North
America. It is also the fastest-growing market for HPPs in the world. Growing
urbanization and industrialization, increasing demand for HPPs in plastics,
cosmetic products, and coatings applications is driving the demand for HPPs in
the Asia-Pacific region.
Some of the
major players operating in the global HPPs market are BASF SE (Germany), Clariant AG (U.S.), Huntsman Corporation (Japan),
Lanxess AG (Germany), Solvay SA (Belgium), Atul Ltd. (India), Sudarshan
Chemical Industries Ltd (India), Heubach GMBH (Germany), Sun Chemical
Corporation (U.S.), Synthesia A.S. (Czech Republic), Ferro Corporation (U.S.),
and Gharda Chemicals Ltd. (India). Most of the companies have
adopted expansions and new product launches as their development strategies to
sustain in the global HPPs market.
The raw material suppliers for the
HPPs market identified in the study are the suppliers of natural gas and its
derivatives, cadmium, cobalt, copper, titanium, and other metal oxides. HPPs
occur naturally during coal combustion process. The major value addition in the
HPPs industry is in the manufacturing process where agreat amount of efforts
and expertise is necessary to manufacture a pigment totally suitable to the
specific end-use application. These HPPs are either sold directly to the end
users or to the distributors.
Reference:
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