“The colorants market is projected to grow at a CAGR of 5.0% in terms of value during the forecast period.”
The colorants market was valued at USD 47.45 billion in 2016 and is projected to reach USD 65.65 billion by 2022, at a CAGR of 5.0% from 2017 to 2022. The increasing demand for colorants in the packaging end-use industry due to the growing importance of aesthetics in packaging products and increasing use of colorants in the plastics and paints & coatings applications is driving the colorants market.
Among types, the market for masterbatch is projected to grow at the highest CAGR from 2017 to 2022
The market for the masterbatches type of colorants is projected to grow at the highest CAGR during the forecast period due to its low cost and color consistency. Moreover, the growing plastics industry offers new avenues for the growth of masterbatches in a wide range of end-use industries such as, packaging, automotive, building & construction, and so on.
Among end-use industries, the packaging segment is leading the colorants market and is projected to grow at the highest CAGR from 2017 to 2022
The packaging end-use industry segment is leading the colorants market and is projected to grow at the highest CAGR during the forecast period. The growth of this segment of the market can be attributed to the increased use of colorants to color plastics, paper, and metal in the form of coating and fabric used in packaging. Use of colorants not only provides aesthetic appeal to packaged products but also helps in product differentiation, thereby influencing preferences of customers.
The Asia-Pacific colorants market is projected to grow at the highest CAGR during the forecast period
The Asia-Pacific colorants market is projected to grow at the highest CAGR during the forecast period, owing to the increased demand for plastics in the region, resulting from a growing middle class population, rapid urbanization, and increasing purchasing power of consumers. The growing consumer goods and packaging end-use industries in the region are also fueling the demand for colorants in the Asia-Pacific region, thereby contributing to the growth of the colorants market in the region.
This study has been validated through primaries conducted with various industry experts, worldwide. The primary sources have been divided into three categories, namely, company type, designation, and region.
- By Company Type - Tier 1-50%, Tier 2-30%, and Tier 3-20%
- By Designation - C Level-20%, Director Level-20%, and Others-60%
- By Region - Asia-Pacific-60%, North America-10%, Europe-15%, Middle East & Africa-10%, and South America-5%
Companies Profiled in the Report:
The key players profiled in the report include, Clariant AG (Switzerland), BASF SE (Germany), DIC Corporation (Japan), Huntsman Corporation (U.S.), E. I. du Pont de Nemours & Company (U.S.), Cabot Corporation (U.S.), LANXESS AG (Germany), PolyOne Corporation (U.S.), and Sun Chemical Corporation (U.S.).
The report offers insights on the colorants used for different applications in various end-use industries across different regions. It aims at estimating the size of the colorants market during the forecast period and projects future growth potential of the market across different segments, such as form, end-use industry, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the colorants market, along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in the colorants market by providing them the closest approximations of the revenues for the overall market and its various subsegments. This report will help stakeholders to obtain a better understanding of the competitive landscape and gain insights to enhance their businesses and devise suitable market strategies. The report will also help stakeholders understand the pulse of the market and acquire information on key market drivers, restraints, challenges, and opportunities impacting the growth of the colorants market.