Global White Inorganic Pigment Market - 2022-2029
The global white inorganic pigment market has reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2022-2029.
White inorganic pigments are either natural or synthetic, easier to distribute than organic pigments. Nonetheless, many white pigments are treated to improve dispersibility, lightfastness, and weather resistance. Individual pigment particles are coated with inorganic and organic chemicals throughout the process.
White pigments create white hues, tint colors, and cover tons. Because of its great hiding capability, titanium dioxide is recommended for opaque covering. White pigments are defined as any material having a refractive index greater than 1.7. The pigments are added to paints to lower the cost and enhance the qualities of the paint.
Progressive industrialization in emerging economies of Asia-Pacific and North America is expected to drive the global white inorganic pigment market. However, stringent governmental and regulatory bodies regulations related to some pigments are likely to restrain the market.
Progressive industrialization in emerging economies of Asia-Pacific and North America
The rapid industrialization in emerging economies of Asia-Pacific, North America and some parts of Africa will likely provide growth prospects for the white inorganic pigments market. In recent years, the building and construction, textile industries, and automotive have all risen dramatically in the regions. In addition, major industrial sectors in India, Indonesia, China, Brazil, UAE and Chile have seen rapid expansion. Furthermore, raw material availability and low labor costs have enabled domestic and foreign corporations to establish operations in these regions.
Moreover, the OECD reports that annual household disposable income has grown globally during the last few years. Consumers' purchasing power and standard of living improve when their disposable income rises. Therefore, these reasons drive the demand for interior decoration and house renovation, which drives the market for decorative paints and coatings which widely utilize white inorganic pigments.
According to the World Trade Organization's (WTO) World Trade Statistical Review, 2018, the global market of textiles was US$ 296,100 million in 2017, while global clothing exports were US$ 454,500 million in the same year. Asia-Pacific countries, particularly India, are important players in the global textile sector. The majority of India's clothes are sent to Europe and North America. As a result, this has increased the need for white inorganic pigments in fabric printing, creating the potential for industry participants.
Stringent governmental and regulatory bodies regulations related to some pigments
White inorganic pigments such as chromium and cadmium-based are hazardous to workers and the environment because of their high metal concentration. In addition, their disposal during the pigment manufacturing process contaminates the environment. Several producers in countries such as China have faced difficulties due to poor treatment facilities and stringent government regulations. The Registration, Evaluation and Authorization of Chemical Substances (REACH) rule have set restrictions on using these pigments. As a result, significant inorganic pigment production units have closed.
Moreover, cadmium pigments are not authorized in many applications in Europe, according to Directive 91/338/EEC. Similarly, the Environmental Protection Agency (EPA) in U.S. regularly examines and prohibits certain pigments that endanger animal and human life.
Several countries' economic growth has slowed due to the COVID-19 pandemic, owing to the stoppage of manufacturing facilities, decreased demand and supply chain disruption. The industries such as automotive, textile, building and construction are the most significant industries that use white inorganic pigment, severely impacted by COVID-19. During this pandemic, raw material suppliers and other linked businesses are being pushed to rethink their strategies to serve the industry.
Moreover, supply chain interruptions, logistical constraints, workforce unavailability, limited component availability, low corporate cash, demand reduction and manufacturing halt due to lockdown in several nations have all negatively impacted the industry.
The global white inorganic pigment market is segmented into titanium dioxide, zinc oxide, aluminum silicate, calcium carbonate, calcium silicate, and others based on type.
Titanium dioxide is a synthetic inorganic white pigment with great concealing power, safe, permanent and employed in all mediums. The pigment is a white powder that is finely ground. It delivers optimal whiteness and opacity when utilized in paints. It offers to paint a strong hiding power, allowing it to mask or hide the substrate beneath. It is more efficient than any other white pigment in this regard.
Titanium dioxide must be mined, processed and ground to fine, homogeneous particle size. Titanium dioxide white pigments are 20th-century discoveries that have surpassed other traditional white pigments due to their strong hiding power, low toxicity and inexpensive cost. Today, titanium dioxide pigment is the most often used ingredient in the paint industry for whiteness and opacity. These distinct features are generated from titanium dioxide's refractive index. The refractive index expresses the capacity to bend and scatter light. Titanium dioxide has the greatest refractive index of any known substance, surpassing even diamond.
The global white inorganic pigment market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa based on geography.
Asia-Pacific is estimated to be the significant market for white inorganic pigment over the forecast period owing to increased urbanization, disposable income and thus growing end-users, particularly building & construction, coatings & adhesives and textile industries. China, Australia, Korea and India account for the vast majority of demand.
China plans to invest US$ 1,430,000 million in key development projects over the next five years, through 2025. According to NDRC, the Shanghai plan comprises an investment of US$ 38,700 million over the next three years. Similarly, Guangzhou signed 16 new infrastructure projects for US$ 8,09,000 million.
The growing demand has led companies to expand their operation to meet the demand. For instance, in September 2021, The Shepherd Color Company established its new sales office in China, Shepherd Color (Shenzhen) Limited Company. Shepherd Color Shenzhen will import, stock and distribute products manufactured by The Shepherd Technologies and Shepherd Color Company in China.
The global white inorganic pigment market is highly competitive with multinational businesses and several brands. Major players in the market include Venator Materials Plc, Clariant Ag, The Chemours Company, Tronox Holdings Plc, Lanxess, Kronos Globally, Inc., Ferro Corporation, BASF SE, Valhi, Inc. and LB Group, among others. The corporations have implemented several growth methods to increase their market position. For instance, product development, expansion, acquisition, merger and collaboration are the primary growth methods these businesses use to improve their product range and geographical presence to address the growing demand for white inorganic pigments.
The Chemours Company
Overview: The Chemours Company is a U.S.-based chemical company established as a spin-off from DuPont. Its corporate offices are in Wilmington, Delaware, U.S. Chemours produces and sells performance chemicals in the titanium technologies, fluoroproducts and chemical solutions segments.
Product Portfolio: The Chemours Company offers Ti-Pure TiO2 to create brighter, more efficient pigments, resulting in industry-leading innovations. Ti-PureTM solutions also provide unrivaled customer service by engaging with customers to suit their unique business and product requirements.
In November 2019, The Chemours Company launched a new low-abrasion grade Ti-Pure titanium dioxide pigment. The new grade is produced by the chloride process and is specifically developed to increase the performance of printing inks.
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