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Technavio’s market research analyst predicts the global specialty pigments market to grow at a CAGR of more than 3% by 2020. Specialty pigments have peculiarly unique properties that make them an excellent option in several specialized applications including original equipment manufacturer (OEM), refinished, and high-end automobile industries. These pigments not only improve the aesthetic appeal of the substrate but also increase the functionality helping the paints and substrate bind together. These pigments also offer several advantages including metal effects, light interference, fluorescent and luminescent effects, pearlescent, and ultraviolet (UV) curing. At present, several vendors are developing paints and coatings that reflect heat rays from buildings, which has augmented the demand for these specialty pigments, as these can protect buildings against harsh weather, dampness, corrosion, fungi, and other destructive elements. With the increased investments in infrastructural development across the globe, the demand for durable and colorfast specialty pigments will also rise, leading to the overall growth of the market over the predicted period.
Geographically, APAC was the largest market for specialty pigments in 2015 and will post the highest growth rate over the forecast period. Factors such as enhanced customer lifestyles and the rising demand from construction and automotive industries are anticipated to drive the market growth in APAC. Moreover, the demand for durable, high-performance luster paints in the automotive segment will influence the specialty pigments market in the APAC region. Singapore, Indonesia, and Vietnam are the key contributors to the growth of the specialty pigments in APAC.
The dominance of global vendors such as BASF, Clariant, DIC, Ferro, and Flint makes the global specialty pigments market highly competitive. These players have a vast geographical presence with production facilities located worldwide. The strong presence of the international players has made the market a highly consolidated one. To gain a competitive edge over their counterparts, several vendors are trying to foster multi-regional relationships with their raw material suppliers and are establishing new facilities in the emerging markets across the globe. Product placements and branding are key to operational excellence in the market which has prompted players to focus on the value proposition of their products.
Leading vendors in the market are -
Other prominent vendors in the specialty pigments market include Dainichiseika Color & Chemicals, DayGlo, Dominion Colour, ECKART Effect Pigments, Flex Products, Merck, NEMOTO, and Toyo Ink Group.
The organic pigments segment dominated the market during 2015 as they are comparatively stronger than inorganic pigments in terms of color strength. These specialty pigments can resist temperatures of up to 572ºF. These pigments can also handle a high pigment load for efficient dispersion. They have extensive usage in the paints and coatings industry. Also, with the growing number of manufacturers offering organic specialty pigments compared to any other specialty pigments, will be a major driver for the growth of this segment.
The paints and coatings industry is the chief revenue generator in the specialty pigments market and dominated the market in 2015. The rapid surge in infrastructure development across the globe has augmented the need for construction materials, including paints and coatings. Pigments are a crucial part of paints and coating industry and account for around one-third of the overall paint costs. Pigments enhance the coverage of coatings and impart the desired color. Some pigments also help in improving the anti-corrosive features of paints. The growing trend towards sustainable buildings is propelling the need for specialty pigments in the paint and coatings sector.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by type
PART 08: Geographic segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
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