Persistence Market Research delivers key insights on the global ultramarine pigments market in its latest report titled ‘Ultramarine Pigments Market: Global Industry Analysis 2013–2017 and Forecast, 2018–2026.’ The long-term outlook on the global ultramarine pigments market remains positive with the market value expected to increase at a CAGR of 4.0% during the forecast period (2018 – 2026). Among the segments by grade, the cosmetics grade segment is expected to expand at a healthy CAGR in terms of value over the forecast period. Global sales of ultramarine pigments was valued at US$ 182.5 Mn in 2017. China accounted for approximately one-third of the market value share in the global ultramarine pigments market in 2017 and the country is anticipated to remain dominant throughout the forecast period. In this report, Persistence Market Research throws light on drivers and restraints likely to impact the market during the forecast period.
The global ultramarine pigments market is greatly influenced by application areas such as rubber & plastics, paints & coatings, inks, paper, cosmetics & personal care, among others. The paints & coatings segment accounts for a high market share in terms of value and volume as compared to other counter parts. Moreover, growth in the paints & varnishes segment is expected to influence the ultramarine pigments market positively, marking a high – moderate growth rate in developed as well as developing countries. This is expected to create strong growth opportunities for the global ultramarine pigments market. Establishing long-term supply contracts with end-users in specific industry segments can provide stability as well as growth opportunities for manufacturers in terms of revenue generation.
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However, the global ultramarine pigments market is expected to face some challenges. The high cost of raw materials and stronger enforcement of safety & environmental regulations regarding pigments may impact the demand for ultramarine pigments, thereby restricting the revenue growth of the global ultramarine pigments market.
The ultramarine pigments market can be segmented on the basis of the following criteria,
- On the basis of grade, the industrial based segment is anticipated to remain dominant in the market in terms of volume as well as value over the forecast period
- The laundry grade segment by is estimated to grow at a weaker CAGR over the forecast period. The segment is expected to represent a total incremental opportunity of US$ 5.9 Mn between 2018 and 2026
- The cosmetics grade segment is expected to grow at a significant CAGR in terms of value as compared to its counterparts over the forecast period. The segment is expected to represent a total incremental opportunity of US$ 7.4 Mn between 2018 and 2026
Regional Market Projections
On the basis of market value share, China is expected to expand at a healthy CAGR of 4.9% over the forecast period, followed by Europe and North America. The Europe market is expected to hold a market value share of 25.9% over the forecast period. North America is expected to represent an incremental $ opportunity of US$ 13.7 Mn over the forecast period. Latin America is expected to expand with a moderate CAGR in the ultramarine pigments market through 2026. In Europe, the Germany ultramarine pigments market is projected to hold a significant market share in terms of value in the ultramarine pigments market over the forecast period, exhibiting a CAGR of 2.9% over the forecast period. Consumption of ultramarine pigments in Europe is expected to increase to 16,625 MT by 2026 end.
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