Global colorants market is projected to register a healthy CAGR of 6.2% in the forecast period of 2019 to 2026.
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Growing usage of bio-based colorants in paints & coatings
The demand for bio-based coatings is increasing due to changing consumer perception towards environment friendly coatings and paints. With 40% share, the most important outlet for bio-based solvents is surface coatings, paints and printing inks. As per the publications of Dr. Idoia Etxeberria, Europe will consume over 1 million tons of bio-based solvents by 2020 with a CAGR of 8.8% between 2015 and 2020.
- According to bio-based world news bio-based coatings have also created a greener way to paint trains. NEWAG SA has started using bio-based coatings on diesel locomotives along the coating supplier which creates good resistance to cleaning agents that were used to remove graffiti.
Bio based materials are used for coatings and paints and are important parts for many coating formulations. Improved carbon and life-cycle performance with higher purity enhances water solubility and also results in reduced toxicity which is the trend for usage of bio-based paint ingredients.
Bio based materials are used as a raw materials for the coating industries that leads to increasing sustainability and also leads to no negative impact on environment which is helping the growth of colorants market globally.
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Segmentation: Global Colorants Market
Global colorants market is segmented into three notable segments which are color, product and end-user.
On the basis of color, the global colorant market is segmented into natural and synthetic color. Natural colorant is further sub-segmented into green, red, yellow, brown, violet, purple, blue, white, black and others. Synthetic colors are again sub-segmented into green, red, yellow, brown, violet, purple, blue, white, black and others.
In April 2018, DCC and LANSCO colors merged their companies. This decision brought the strengths of both the companies together benefiting pigment consuming by customers.
On the basis of product, the market is segmented into pigments, dyes, color concentrates and masterbatches. Pigments are sub-segmented into organic and inorganic. Organic is further sub sub-segmented into azo, polycyclic, anthraquinone, dioxazine, triarylcarbonium and quinophthalone. Inorganic is further sub-subbed segmented into colored and white. Colored again is classified into CICP, metal oxides, metal salts and others. White is segmented into opaque and non-opaque.Dyes is further sub-segmented based on by type, by nature, by lake and by chemistry. Based on by type, it is further sub segmented into natural, by source and synthetic. Natural, by source is again sub sub segmented into plants, animals and minerals. Dyes, by nature is further sub segmented into acidic and basic. Dyes, by lake, are further segmented into basic, fat soluble and metal complex. Dyes, by chemistry is segmented into direct dyes, mordant dyes, disperse dyes, reactive dyes, acid dyes, direct dyes, VAT dyes, azoic dyes, Sulphur dyes and others. Color concentrates are segmented again to solid and liquid. Masterbatches are sub segmented into white, black and color.
In September 2018, Michelman developed Memjet DuraLink, a primer solution of water based Inkjet systems. This helped the company to increase the productivity and to offer superior print quality at higher line speeds.
On the basis of end-user, the market is segmented into packaging, paper & printing, textiles, building & construction, automotive, consumer goods and others. Packaging is further sub segmented into food & Beverage, healthcare and consumer goods. Textiles are further sub segmented into fabric coloring, printed fabrics and leather. Building & construction is further sub segmented into paints & coatings, plastics and others. Automotive is further sub segmented into paints and coatings, plastics and textiles.
In October, Synthesia announced the increase in price of the pigments and dyes in order to improve the quality of provided product and services.
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Competitive Analysis: Global Colorants Market
Some of the major players operating in this market are BASF SE, DIC Corporation, Clariant, Cathay Industries, Colorchem International Corp and others.
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