As per current published report by Markntel Advisors the Plastic Pigments Market is estimated to grow at a CAGR of around 6.9% during the forecast period, i.e., 2023-28. A detailed discussion of industry behavior is presented. It will assist companies and other stakeholders in making decisions that assure strong earnings in the upcoming years, and also describes the future trend. In order to assist readers in making defensible choices on market projects, this research will offer a useful summary of the market and its dynamic environment. The growth prospects that will enable the market to extend its operations in current markets will be the main focus of this analysis.
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Global Plastic Pigments Market Driver:
Expansion of Automotive Industry to Augment the Market Growth – There is an increasing demand for lightweight materials in the automotive industry, as they can help reduce the weight of vehicles & improve fuel efficiency. Plastic pigments are used to produce lightweight plastic components that are utilized in automobiles for bumpers, dashboards, and door panels. The automotive industry is increasingly focusing on the customization of automotive components to differentiate its products from competitors. These pigments offer a wide range of color options, which can help manufacturers create customized parts attracting customers.
Moreover, many countries, like China, the US, Japan, Germany, etc., are experiencing a surge in automobile production due to ascending demand & expanding government support. Hence, this surge in automobile production across the globe is significantly contributing to the requirement for plastic pigments. Furthermore, the demand for electric vehicles is advancing rapidly, which can boost the need for these pigments. Hence, plastic components are used extensively in the production of electric vehicles, therefore their demand is expected to supplement in the coming years.
The Plastic Pigments Market has segmented the market into the following categories:
By Type
(Organic, Inorganic),
By End User
(Packaging, Building & Construction, Consumer Goods, Automotive, Others)
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By Region
– North America
– South America
– Europe
– The Middle East & Africa
– Asia-Pacific
Competitive Environment Featuring Key Players:
Venator Materials Plc, BASF, DIC Corporation, LANXESS, Ferro Corporation, Cabot Corporation, Clariant, Chemours, Kronos Worldwide Inc., Heubach GmbH, Tronox, Others
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