Water Soluble Pigments Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019–2029
Introduction: Water Soluble Pigments Market
Globally, pigmenting compounds have been used from ancient times for various end use purposes, notably for dyeing and body paint purposes. Pigments are differ from dyes on the basis particle sizes. Dyes are made up of very fine particles whereas pigments are made of quite large particles and possess ultraviolet (UV) stability. Pigments are key ingredients of paints & coatings, pigments impart opacity and color to paints. On commercial scale, pigments are available in two categories water soluble pigments and solvent based pigments. Owing to strict government regulation, key players has invented water soluble pigments with same properties as of solvent based pigments such as strong adhesion, less odor, strong surface tension and among others.
Market Dynamics: Water Soluble Pigments Market
Escalating growth in consumption of pigments across the world is estimated as key driving factor for the growth of water soluble pigments market. Increasing demand of water soluble pigments expected to create strong opportunity for key players to increase production capacity to gain maximum market share. Swiftly inclined construction activities has elevated the demand for pigments. In addition, growing industrialization owing to increasing demand from end users has up surged the demand for water soluble pigments and this trend is expected to continue the same in the coming assessment period. The above mentioned factors have increased the consumption of paints & coatings, which in turn is bolstering the growth of water soluble pigments market.
Rising environmental regulations across the world by governments over reduce VOC emissions or zero VOC level especially related to solvent based pigment has increased the demand for water soluble pigments, which is projected to have positive impact on the market growth in the near future.
Increasing industrial activities across the world and similarly growth in automotive sales has increased the demand for pigments which in turn is expected to have positive influence on water soluble pigment market growth. From last couple of years, increasing adoption of environment friendly pigments in above mentioned end use applications in order to meet consumer demand and to fulfill with government stringent regulations against VOC is probably to have a positive impact on the water soluble pigments market growth over the projected period.
Moreover, globally, key players are working on to improve quality of water soluble pigments as compared to solvent based pigments. Key players investing around 3-5% of their revenue to invent most possible applications of water soluble pigments. In the same line, some of the key players started working towards the same.
COVID-19 Impact on Water Soluble Pigments
The pandemic covid-19 outbreak has disrupted overall supply chain network of industrial goods. Furthermore, covid-19 impacts hampered majorly in emerging and developing countries such as in ASEAN, India, and Russia and among others.
Governments of these countries have adopted various measures including social distancing, lockdowns, etc. Owing to the application of Water Soluble Pigments in pharmaceuticals and other chemical industries expected to have slight weak growth in the market for period of two-three quarter and is expected to boost from the first quarter of 2021.
Market Segmentation: Water Soluble Pigments Market
Water Soluble Pigments market is segmented as below
On the basis of application, Water Soluble Pigments market segmented as
Regional Dynamics: Water Soluble Pigments Market
Increasing urbanization has augmented growth in construction activities in the East Asia region, especially in countries such as ASEAN, China and India. Escalating surge in building & construction activities growth in East Asia region has increase the consumption of water soluble pigments and the demand is expected to be dominant in the coming assessment period. Industries such as adhesives, paints & coatings, textile and printing inks are gaining momentum in the East Asia region since last couple of decade. Owing to the aforementioned factors East Asia can be attributed as prominent market for water soluble pigments.
North America and Europe regions are shifting their preference towards the adoption of water soluble pigments owing to the rising number stringent environmental regulations over solvent based pigments. The predominance of water soluble pigments makes Europe & North America a substantial market in the near future. In Europe, Germany is expected to be the major market for water soluble pigments owing to increasing consumer demand for environment friendly products in industrial and household applications. AS per one of the latest report published by European association, In Germany, water soluble pigment dispersion rate is likely to witness 100% penetration in the paints & coatings.
Regions such as Latin America and Middle East & Africa can be considered as promising market for water soluble pigments owing to the industrial growth and rise in construction activities.
Key Players: Water Soluble Pigments Market
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