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Surging Demand from Plastics Industry
The plastics industry has emerged as one of the major end-use sectors globally driving the growth of the pigments market. Plastic materials have extensively replaced traditional materials in myriad applications due to their advantageous properties such as low cost, lightweight, durability, resistance to moisture and chemicals. Pigments play a pivotal role in plastic formulations by adding visual appeal and mechanical properties. They help impart color to clear plastic resins and compounds, provide UV stability, reduce gloss, enhance opacity, and also act as reinforcements in some cases. The plastic products industry has been witnessing tremendous expansion fueled by the burgeoning demand from consumer goods, automotive, packaging, construction, and other industries. Rise in the single-use plastic production as well as growing consumption of specialty plastics have augmented the consumption of pigments.
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