North America Coating Pigments Market Is Likely To Generate USD 8.8 Billion By 2032

The market for coating pigments is anticipated to grow from 2022 to 2032 at a CAGR of 5.5 percent, from USD 24.5 billion in 2022 to USD 41.9 billion in 2032.

The market for coating pigments will be dominated by Europe, which will account for almost half of it, and North America, which will account for about one-fourth.

More than 30% of the volume of raw materials is made up of coating pigments, which are a significant part of raw materials for coatings. Coating pigment currently controls the majority of the global market in terms of volume and value due to the accelerated development of the infrastructure and construction industries as well as other end-use industries.

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Important companies are introducing new technologies to enhance the characteristics and effectiveness of coating pigments. Organic coating pigments are increasing the demand for coating pigment. Organic coating pigments with enhanced performance have caught the attention of manufacturers for sustainable products.

The formulations of coating solvents have changed over time in an effort to produce better results. Additionally, the current qualities of coating pigments, such as colour variation and efficient binding properties, are enabling the market for coating pigments to grow. In the near future, it is anticipated that the creation of new coating solvents will increase the use of advanced coating pigments.

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Key Takeaways:

·         By 2032, the German coating pigments market is anticipated to grow at a CAGR of roughly 5.6 percent.

·         China will hold a market share of more than 72% for coating pigments in East Asia.

·         In developed regions, organic coating pigments are anticipated to grow significantly.

·         The market share for coating pigments used in architectural applications is expected to be close to 38%.

Growth Drivers:

·         An increase in the use of coloured packaging materials for a variety of end-use sectors, including food packaging, consumer goods packaging, and so on, has had an impact on the market for coating pigments.

·         The market for coating pigments is being driven by rising demand for thermal preference coatings in residential construction as well as rising use of automotive coatings to address and meet the needs of outpacing the automotive sector.

PPG Industries Inc., AkzoNobel NV, The Sherwin-Williams Company, BASF SE, DuPont Inc., RPM International Inc., Axalta Coatings LLC, etc. are some of the key companies in the sector.

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Market Segments Covered in Coating Pigments Market Analysis:

• By Composition Type 

• Extenders/Fillers

• Titanium Dioxide (TiO2)

• Color Pigments

• Others (anticorrosive, metallic, pearlscent)

• By Product Type

• Inorganic

• Organic

• By End-Use Industry

• Automotive

• Protective & Marine

• Refinish

• Architectural

• Aerospace

• Packaging

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