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Plastic Pigments Market Analysis and Insights:
The Plastic Pigments Market size is estimated to grow at a CAGR of around 6.9% during the forecast period, i.e., 2023-28.
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Plastic Pigments Market Dynamics
Global Plastic Pigments Market Driver: Expansion of Automotive Industry to Augment the Market Growth
There is an increasing demand for lightweight materials in the automotive industry, as they can help reduce the weight of vehicles & improve fuel efficiency. Plastic pigments are used to produce lightweight plastic components that are utilized in automobiles for bumpers, dashboards, and door panels. The automotive industry is increasingly focusing on the customization of automotive components to differentiate its products from competitors. These pigments offer a wide range of color options, which can help manufacturers create customized parts attracting customers.
Moreover, many countries, like China, the US, Japan, Germany, etc., are experiencing a surge in automobile production due to ascending demand & expanding government support. Hence, this surge in automobile production across the globe is significantly contributing to the requirement for plastic pigments. Furthermore, the demand for electric vehicles is advancing rapidly, which can boost the need for these pigments. Hence, plastic components are used extensively in the production of electric vehicles, therefore their demand is expected to supplement in the coming years.
Plastic Pigments Market Report Segmentation:
The report has segmented the market into the following categories:
By Type
-Organic
–Phthalocyanine Pigmentss
–High-Performance Pigmentss
-Inorganic
-Titanium Dioxide
-Iron Oxide Pigmentss
-Chromium Oxide
-Carbon Black
-Cadmium Pigmentss
By End User
-Packaging
–Food & Beverage Packaging
–Consumer Goods Packaging
–Healthcare & Pharmaceutical Packaging
-Building & Construction
-Consumer Goods
-Automotive
-Others (Healthcare, Textiles, Electronics, etc.)
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Market Divided by Region/Country:
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
Who are the top Companies in the Plastic Pigments Market?
Venator Materials Plc, BASF, DIC Corporation, LANXESS, Ferro Corporation, Cabot Corporation, Clariant, Chemours, Kronos Worldwide Inc., Heubach GmbH, Tronox, Others
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