Growth Prospects: White Inorganic Pigment Industry Predicted to Reach US$ 50.2 Billion by 2034, with 6.2% CAGR
The global market for white inorganic pigments is poised for significant growth, with an estimated value of US$ 27.4 billion in 2024, projected to surge to US$ 50.2 billion by 2034, marking a robust Compound Annual Growth Rate (CAGR) of 6.2% over the decade. This expansion reflects increasing demand across various industries such as paints and coatings, plastics, and construction, driven by factors including urbanization, infrastructure development, and rising disposable incomes worldwide. Manufacturers are likely to focus on innovation and product development to cater to evolving consumer preferences and regulatory standards, thereby fueling further market expansion during the forecast period. White inorganic pigments are used in industrial coatings for metal substrates, machinery, equipment, appliances, and infrastructure to provide protective and functional properties while maintaining a visually appealing appearance. The automotive industry is a significant user of white i...