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Ultramarine Pigments Market Segmented By Laundry, Industrial, Cosmetics Grade for Rubber and Plastics, Inks, Paints and Coatings, Paper, Cosmetics and Personal Care, Detergents in Blue and Violet Color
Ultramarine pigments are inorganic pigments added to products to give them a distinctive finish. Ultramarine pigments find applications in rubber & plastics, inks, detergents, paints & coatings, etc. The global ultramarine pigments market was valued at US$ 182.5 Mn in 2017 and is expected to reach US$ 257.9 Mn by the end of 2026, expanding at a CAGR of 4.0% over the forecast period. The global ultramarine pigments market is anticipated to represent an incremental opportunity of US$ 68.8 Mn between 2018 and 2026. In terms of volume, the global ultramarine pigments market is estimated to reach 54,300 tons in 2017 and is anticipated to increase to 70,109 tons by 2026, exhibiting a CAGR of 2.9% over the forecast period.
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Steady economic growth in developing countries, such as China, India, Brazil and ASEAN countries and rising per capita disposable income and expenditure in these regions are the major drivers for the consumer products market.
With growing economic prosperity and increasing purchasing power, people are moving towards the use of products that were earlier unaffordable. This, in turn, has resulted in an increase in the demand for consumer products, such as personal care and home care products, among others.
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Get a Customized VersionThe global ultramarine pigments market can be segmented on the basis of grade, application, color and region. On the basis of grade, the global ultramarine pigments market can be segmented into laundry, industrial and cosmetic grade. Based on the application, the global ultramarine pigment market can be segmented into rubber & plastics, inks, paints & coatings, paper, cosmetics & personal care and detergents.
Whereas, based on color, the global ultramarine pigments market can be segmented into blue, violet and others. Significant regions covered in the report include North America, Latin America, Europe, South East Asia & Pacific, China, India and Middle East & Africa.
Industrial grade is projected to account for more than three-fourths of the volume share in the global ultramarine pigments market by 2026 end, increasing at a CAGR of 2.9% over the forecast period. The segment is expected to represent a total incremental opportunity of US$ 68.8 Mn between 2018 and 2026. The laundry grade segment is expected to grow at a relatively lower CAGR of 2.7% in terms of value as compared to the industrial grade segment. The segment is expected to represent a total incremental opportunity of US$ 5.9 Mn between 2018 and 2026
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Among the application segments, the paints & coatings segment, followed by the rubber & plastics segment, dominated the global ultramarine pigments market in 2017. The rubber & plastics segment is forecast to account for a 26.4% market volume share by the end of 2026.
The growth of the segment is largely attributed to the increasing demand from end use industries. The ink segment is also anticipated to grow at a good pace over the forecast period, owing to the growing demand from electronic media across the globe.
From a regional perspective, China represented approximately one-third of the market volume share in 2017. The market is expected to increase at a value CAGR of 4.0% over the forecast period. Sales revenue of the ultramarine pigments market in Europe is expected to reach US$ 61.1 Mn by the end of 2026, increasing at a CAGR of 2.8% over the forecast period. Market growth in North America is expected to remain moderate as compared to the global average between 2018 and 2026.
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