The global inorganic color pigments market size is anticipated to reach USD 3.93 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 3.0%, in terms of revenue, over the forecast period. Rising demand for inorganic color pigments in printing inks, paints, coatings and plastics application is anticipated to fuel the market growth.
Growing Construction Industry to Boost Demand for Inorganic Color Pigments
The growth in the building and construction industry across the globe has been contributing significantly to driving the demand for inorganic color pigments. Countries such as China, India, the U.S., and Germany are some major countries showing significant growth potential in the construction sector.
Increasing industrialization coupled with rising population has encouraged governments to raise their construction spending for infrastructural development which is expected to boost the construction activities and will create massive demand for inorganic color pigments in the coming years.
Inorganic Color Pigments Market Report Highlights
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The Iron Oxide segment accounted for the prominent market share of 60.6% in 2019 and is estimated to maintain its dominance over the forecast period owing to rising demand from paints and coatings application
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Ultramarine blue is the second-largest segment and is expected to expand at a healthy CAGR of 3.7% over the forecast period
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The paints and coatings segment is expected to be the dominating application segment over the forecast period owing to rising in construction and automotive industry
Source: GVR