HIGH PERFORMANCE PIGMENT MARKET ANALYSIS

Market Challenges And Opportunities

Global High performance pigments market- Restraints

• High Costs of HPPs

High costs of HPPs is expected to hamper growth of global market. High cost of HPPs is due to its properties such as excellent heat stability and high color strength. Such price disparity is expected to create various challenges for the market participants over the forecast period. Also, fluctuation in raw material prices is also expected to hamper the market growth. For instance, these pigments superior properties and higher production costs account for the difference in prices. The high performance pigments market is anticipated to suffer from this price difference during the forecast period, particularly in developing regions like Asia Pacific, Central & South America, and the Middle East & Africa.

Global High performance pigments market- Growth Drivers

• Increasing demand for HPPs from automotive and industrial coatings

Increasing demand for HPPs in automotive and industrial coatings, plastics, and cosmetic industries is the major factor that is expected to drive the global high performance pigment market growth. Furthermore, high demand for HPPs, owing to its wide variety of application range, excellent performance, and relatively low environmental impact is also expected to drive the market growth. Various research and development activities for development of new HPPs technologies such as nano-pigment technology is also propelling growth of the global market. For instance, According to India Brand Equity Foundation, a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, the Indian automotive market is expected to expand at a CAGR of 32.6% during 2014–2022. 

• Increasing demand from industries

Due to a supportive regulatory environment, important industries like polymers, textiles, cosmetics, and pharmaceuticals are expanding. These industries may see an increase in the demand for concentrated pigments that can withstand high temperatures. For instance, Graphene is known for its highly conductive qualities, you don\'t fully appreciate their potential impact until you see them in use. For instance, using graphene pigments in paint in a commercial setting can reduce the need for heating and cooling in office spaces because graphene absorbs heat before dispersing it over its entire surface.