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 inorganic pigments, primarily in coatings applied to vehicle exteriors, interiors, and components.

White pigments are employed in specialty coatings for specific applications such as aerospace, electronics, appliances, and specialty equipment. White inorganic pigments are used in decorative paints, textured coatings, and specialty finishes for artistic and creative applications.

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White inorganic pigments find applications in various industrial coatings used for metal substrates, machinery, equipment, appliances, and infrastructure. White pigments play a vital role in the packaging industry, where they are widely utilized in materials such as plastics, paper, and cardboard for printing and labeling purposes.

The rise of e-commerce and the growth of the food and beverage sector have fueled significant demand for packaging materials, consequently driving the need for white inorganic pigments. A significant portion of white inorganic pigment consumption is attributed to the construction industry, especially in architectural coatings for various types of buildings, including residential, commercial, and industrial structures.

“The construction industry's steady growth, coupled with the demand for superior coating solutions, is a significant driver propelling the growth of the white inorganic pigment market” - says an Analyst at Future Market Insights, Inc.

Key Takeaways from the Market Study

  • From 2019 to 2023, the white inorganic pigment market expanded at a CAGR of 7.9%.
  • Based on product, the titanium dioxide segment is expected to rise at a CAGR of 6.0% from 2024 to 2034.
  • The white inorganic pigment demand in China is predicted to grow at a CAGR of 6.9% through 2034.
  • In the United States, the white inorganic pigment industry is estimated to register a CAGR of 6.5% from 2024 to 2034.
  • The United Kingdom is projected to expand by a value CAGR of 7.4% between 2024 and 2034.
  • The white inorganic pigment market in Japan is anticipated to record a CAGR of 7.7% during 2034.

Competitive Landscape

Key players in the market are focusing on boosting their production capacity to widen their global reach and garner significant market share. Several leading manufacturers are actively engaging in mergers, acquisitions, and collaborations to augment their global presence and strengthen their position in the market.

  • In November 2022 - Cathay Industries unveiled plans for additional growth by establishing a new iron oxide pigment facility in Indonesia.
  • In March 2023- The Heubach Group unveiled its latest offering: the Automotive Styling Shades 2027 Trendbook, titled "Plan B for Planet A." This release continues the tradition of Clariant's BU Pigments, providing biennial color trend forecasts under the "Automotive Styling Shades Trendbook" series.

The Top Key Companies Profiled

  • Altana AG
  • BASF SE
  • Cathay Industries Group
  • Clariant International AG
  • Cristal
  • Ferro Corporation
  • Gharda Chemicals Limited
  • Heubach GmbH
  • KRONOS Worldwide Inc.
  • Lanxess AG

More Valuable Insights Available

Future Market Insights offers an unbiased global white inorganic pigment market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the white inorganic pigment industry, the industry is segmented based on Product (Titanium Dioxide, Zinc Oxide, Aluminium Silicate, Calcium Carbonate, Calcium Silicate, Silica, and Others) By Application (Paints and Coatings, Plastics, Printing Inks, Cosmetics, Others) Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).

 

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