Market Overview
Pigment intermediates are primarily utilized for the production of dyes. They are mostly used in the textile industry and are available in various contrast colour combinations. These products possess excellent strength and also have better dyeing results.
There are numerous types of pigment intermediates, such as naphthol and tetrachloroterepthaloyl chloride, which are used for the production of pigments, paints, printing inks and cosmetics. Also, pigment intermediates are utilized for the manufacturing of various organic as well as inorganic pigments. Pigment intermediates are mostly used for the production of printing ink across the globe.
The pigment intermediates market is largely dominated by the Asian countries both in terms of production as well as consumption, owing to various reasons, such as easy availability of raw materials and presence of end-use industries.
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Global Pigment Intermediate Market: Dynamics
There has been substantial growth in the paints and coatings market in the recent past. Paints & coatings have been largely utilized for commercial and residential purposes and also across various end-use industries, including railways, automotive, marine and others.
Pigment intermediates are also widely utilized in printing ink applications. With stable growth in end-use industries across developing economies, the market is expected to register rapid growth. Further, with increasing government initiatives towards the development of various end-use industries, the demand for paints and coatings is anticipated to witness steady growth over the forecast period. This, in turn, will boost the demand for pigment intermediates in the near future.
Pigment intermediates are primarily supplied solely by Asian producers. Hence, the buyers of these intermediates are exposed to high risk in supply due to regulatory and operational issues. Various pigment intermediate manufacturers in Asian countries are facing pressure from their respective governments regarding regulatory compliance issues.
This has in turn been forcing intermediate producers to purchase only the industrial version of their key raw material, i.e. urea, instead of its subsidized version, which is intended for agriculture use. This will significantly impact the production cost of these intermediates and also tighten the availability of industrial grade urea. The aforementioned reasons are expected to be the key factors restraining the growth of the global pigment intermediates market in the near future.
One of the key trends identified in the global pigment intermediate market involves long-term relationships between the manufacturers of pigments and prominent manufacturers of pigment intermediates across the globe. In this way, manufacturers can strengthen their position in the market across the globe.
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Global Pigment Intermediate Market: Regional Outlook
Globally, the pigment intermediates market is anticipated to be dominated by the Asia Pacific region, owing to the presence of significant end-use industries there. Further, the raw materials utilized for the production of pigment intermediates are available in significant quantities in developing economies, such as China and India.
North America and Europe are anticipated to grow at moderate rates over the forecast period, owing to the low demand from the end-use industries for pigment intermediates. Latin America and the Middle East & Africa are expected to expand at low growth rates in the near future.
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