High-performance Pigments Market - Trends and Forecasts by Technavio

Technavio’s latest report on the global high-performance pigments market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

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Technavio has published a new report on the global high-performance pigments market from 2017-2021.  ...

Technavio has published a new report on the global high-performance pigments market from 2017-2021. (Graphic: Business Wire)

The global HPPs market will grow at a significant pace during the forecast period. This is mainly due to the high demand for HPPs from the automobile segment. However, the growth prospects of the HPPs market differ from region to region. The major market for HPPs is APAC. The region houses various developed applications segments of HPPs like coatings, plastics, inks, and cosmetics.

Kshama Upadhyay, a lead analyst from Technavio, specializing in research on specialty chemicals sector, says, “APAC will be an attractive market during the forecast period for HPPs’ emerging end-user industries due to various growth factors. For instance, the rising disposable income, with increasing demand from the cosmetics segments, has triggered the market demand for HPPs in APAC.”

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The top three emerging trends driving the global high-performance pigments market according to Technavio research analysts are:

  • Rising applications of organic pigments
  • Increasing demand for powder coating
  • Technological innovations

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Rising applications of organic pigments

The demand for organic HPPs in existing and developing application segments increased continuously over the last couple of years. This demand trend is expected to grow during the forecast period because of significant technical properties that organic HPPs offer. Superior properties of organic HPPs like nontoxicity, good color strength, and cost effectiveness will fuel the demand during the forecast period.

“The demand for organic pigments in APAC is expected to surge tremendously, posting a high CAGR. The region is also one of the major manufacturing hubs of organic HPPs. These pigments are widely adopted in major applications like coatings, paints, and plastics and emerging applications like textiles and cosmetics,” according to Kshama.

Increasing demand for powder coating

Among several types of HPPs used in coatings application, powder coating is growing at a faster rate. In recent years, powder coating is gaining an advantage over other types of coatings due to its eco-friendly coating materials. Powder coating eliminates many issues related to liquid coating such as it minimizes the levels of pollutants.

These factors are making powder coatings one of the major coating application segments of HPPs. Moreover, environmental compliance from the US EPA and technological innovations will increase the use of powder coating during the forecast period.

Technological innovations

Increasing need for HPPs in various end-user applications is compelling the manufacturers to increase their R&D expenses to innovate their products. The demand for technically innovative HPP products in the global market is increasing in order to improve the resistance properties, brightness, and the range of colors.

Recently, the demand for pure color pigments is increasing due to their balance between transparency and high chromatic performance. For instance, PPG’s patented ANDARO Tint Dispersion Technology with organic nano-pigments delivered an extended portfolio of colors for the company's customers.

The key vendors are as follows:

  • Atul
  • BASF
  • Clariant
  • Heubach Color
  • Sun Chemical
  • Synthesia

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