Plastic Pigment Market Size to Worth $21.8 Billion by 2032 | CAGR: 6.9%: AMR

The global plastic pigments market is experiencing growth due to several factors such as surge in demand for vibrant colors and enhanced aesthetics in consumer goods and packaging products. Rise in demand for plastic pigments in major end-use industries such as automotive, construction, electronics, and consumer goods, is expected to further drive the market growth.

/EIN News/ -- Wilmington, Delaware , May 07, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Plastic Pigment Market by Type (Organic and Inorganic), and Application (Packaging, Consumer Goods, Building and Construction, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the plastic pigment market was valued at $11.2 billion in 2022 and is estimated to reach $21.8 billion by 2032, growing at a CAGR of 6.9% from 2023 to 2032. 

Prime determinants of growth 

The global plastic pigments market is positioned for substantial growth owing to increase in demand for vibrant colors and enhanced aesthetics across consumer goods and packaging. Moreover, the escalating demand for plastic pigments in pivotal end-use sectors such as automotive, construction, electronics, and consumer goods propel market expansion. However, stringent regulations concerning volatile organic compound (VOC) emissions are restraining market growth. Contrarily, advancements in plastic pigment formulations present a lucrative growth opportunity for the market. 

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Report coverage & details: 

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$11.2 Billion
Market Size in 2032	$21.8 Billion
CAGR	6.9%
No. of Pages in Report	250
Segments Covered	Type, Application, and Region
Drivers	Surge in demand for vibrant colors and enhanced aesthetics in consumer goods and packaging products   Rise in use of plastic pigments in various end-use industries  Increased demand for eco-friendly and bio-based pigments
Opportunity	Advancements in plastic pigments formulations     Rise in demand for high performance pigments
Restraint	Stringent regulations on VOC emissions   Fluctuating price of raw materials

The inorganic segment to maintain its lead position during the forecast period. 

By type, the inorganic segment held the highest market share in 2022, accounting for more than half of the global plastic pigments market revenue and is likely to retain its dominance throughout the forecast period. Advances in pigment manufacturing technology have led to the development of new and improved inorganic pigments with enhanced properties such as better dispersion, higher tinting strength, and improved compatibility with various polymer matrices. Furthermore, with the rising demand for packaged goods, particularly in the food and beverage industry, there is a corresponding increase in the use of inorganic pigments for plastic packaging. These pigments provide the vibrant colors and visual appeal desired by consumers while ensuring the safety and integrity of the packaging material. 

The packaging segment to maintain its lead position during the forecast period. 

By appliocation, the packaging segment held the highest market share in 2022, accounting for more than half of the global plastic pigments market revenue and is likely to retain its dominance throughout the forecast period. Packaging serves as a powerful marketing tool, communicating brand identity, values, and product benefits. Plastic pigments allow for the creation of customized packaging designs that reinforce brand messaging and attract target consumers. In addition to aesthetics, packaging plays a crucial role in protecting products from damage, contamination, and spoilage. Plastic pigments are used to produce packaging materials with specific properties such as UV resistance, barrier protection, and tamper-evident features, ensuring product integrity and safety. 

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Asia-Pacific to maintain its dominance by 2032 

By region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than half of the global plastic pigments market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. The rising population and increasing disposable incomes in the Asia-Pacific region have led to growing consumer markets for various goods, including packaged foods, beverages, personal care products, and household items. This drives the demand for colorful and attractive packaging made from plastic materials, thereby boosting the demand for plastic pigments. Furthermore, the Asia-Pacific region is witnessing significant investments in infrastructure development, including construction of residential buildings, commercial complexes, roads, bridges, and transportation networks. Plastic materials, often colored with pigments, are used in various construction applications, driving the demand for plastic pigments. 

Want to Access the Statistical Data and Graphs, Key Players' Strategies:  https://www.alliedmarketresearch.com/plastic-pigment-market/purchase-options  

Players: 

• Atul Ltd 
• BASF SE 
• CLARIANT 
• DIC CORPORATION 
• Heubach GmbH 
• LANXESS 
• Mazda Colours Ltd. 
• Sudarshan Chemical Industries Limited 
• The Chemours Company 
• Tronox Holdings Plc. 

The report provides a detailed analysis of these key players in the global plastic pigments market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario. 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

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