It is estimated that the market value of high performance pigments will rise to $5 billion 490 million over the next 5 years. According to Smithers Rapra, a research analyst at the rubber and plastics market, the market for high-performance pigments by 2021 is expected to reach a compound annual growth rate of 2.9%. The research indicates that by the end of 2021, the production of high performance pigments will mostly be transferred to Asia, especially in India and China, but production control is still in the hands of European, American and Japanese enterprises to a large extent.
Small and medium enterprises are also increasingly concerned with the growing use of professional pigments, such as thermochromic coatings and fluorescent fluorescent pigments. The current and future nanotechnology will have a certain impact on the use of high performance pigments.
Trevor Sayer, the study's author, said that environmental issues remain a hot issue for color suppliers. There is no doubt that the biggest challenge in the global coatings market is strict environmental regulations, especially the treatment of wastewater and industrial pollution.
Company merger will be another main trend of development, so that it can be tighter regulated and meet the needs of customers, and it will also face the high competition in the global paint market.
In 2016, the global HPPS and SPS consumption is expected to reach 178844 tons, with a composite annual growth rate of 3%, which will reach 206921 tons by the end of 2021.