Pigment Dispersion Resin Market: Overview and Dynamics
In a fast pace growing industrialization is a positive sign for pigment dispersion resin industry. Adoption of pigment Dispersion resin has been increased exponentially by the End-use-industry reason being the premium quality, customer satisfaction and stabilization, provides splendid colour to the material.
So as to achieve the finest quality of coating, liquid pigment dispersion resin is being used having a flawless particle size which results to be stable for a long period of time. Pigment dispersion resin is not only restricted to the paint industry it is having a diverse portfolio of application. Pigment dispersion resin is widely used in liquid coating and ink industries as well.
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Pigment dispersion resin can offer the finest quality of paints, inks and coatings with extraordinary colour strength. Pigment dispersion resin replaces the air and moisture covering the pigment and transforms the dry pigment into pigment dispersion. The market has blown-up after advanced discoveries in polymers which have become the driving factor for the growth of the pigment dispersion resin market. Considering the forecast of the future expansion of market and consumer base it is likely to increase a stiff demand of Pigment dispersion resin.
However, Pigment resin dispersion products are expected to penetrate into the market with a higher growth rate because of the diversity of being absorbed in the multiple industries and the end result quality. In the coming years, the market would rise high with tougher competition as companies would focus majorly on the quality needs of the end product like paints, inks & coatings and pigment dispersion resin would play a vital role, there’s been a significant demand under the forecasted period.
Considering the aspect of future consumption, demand is going to grow in a steeper line which will further result in the quicker adoption of Pigment resin dispersion. Shifting consumer needs and widening consumer base will lead to the expansion of the market. Pigment resin dispersion is having the capability to stand along with upcoming forecasted market expansion.
COVID-19 Impact Insights
The unpredicted outbreak of Novel COVID-19 has massively disrupted the End-use Industries revenue following by the affected Supply-chain. COVID-19 pandemic has forced countries to impose lockdowns and strict social distancing measures across the globe, flattening the global economic curve. It has adversely affected the economy across the globe resulting in a steep fall in the Global GDP bar. This has affected almost every market and pigment dispersion resin market has also been affected largely.
COVID-19 pandemic has presented massive disruptions in the demand-supply equilibrium across multiple industries, leading towards economic losses at a global level. The plant shutdowns in Europe, Asia and North America in the second quarter of 2020 has reduced the production scale of pigment dispersion resin. However, uplifting of lockdown has begun in few regions with shows a ray of hope for the pigment dispersion resin market to bounce back strongly and reach it desired potential by the fourth quarter of 2020
Segmentation Analysis of Pigment Dispersion Resin Market
The global market for pigment dispersion resin has been classified into 6 major segments which follow as product type, end-use, packing type, colour, pigment type and region.
Based on product type, pigment dispersion resin market has been segmented as follows:
- CAB resins
- VC copolymers
- Acrylic resins
- Urea and Melamine formaldehyde resins
- Alkyd resins
- Epoxy resins
- Hydrocarbon resins
Based on end-use, pigment dispersion resin market has been segmented as follows:
Based on packaging type, pigment dispersion resin market has been segmented as follows:
- Plastic Pails
- Steel Drums
Based on colour type, pigment dispersion resin market has been segmented as follows:
Based on pigment type, pigment dispersion resin market has been segmented as follows:
- Organic Pigment
- Inorganic Pigment
Based on region, pigment dispersion resin market has been segmented as follows:
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
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Pigment Dispersion Resin Market: Regional Outlook
Considering the regional classification, the report “Pigment Dispersion Resin” puts light on six prominent regions which include North America, Europe, Latin America, South Asia and Oceania, East Asia and Middle East & Africa. Among them, Europe holds a dominant position capturing around 65% of the market share for pigment dispersion resin. Elevating demand for paints, inks, coating and adhesive in response to amplified development of infrastructures has become the guiding light for penetration of pigment dispersion resin moving at a faster pace.
Asia-pacific apprehends a governing position and expected to steer over the predicted time frame. Some of the Asia-pacific countries like India and China is the most contributing towards the global market of Pigment Dispersion resin because of the rapid increase in urbanization and a steeper growth in industrialization expected to surge the consumption of Pigment dispersion resins. Attributed to the construction & building sector, this region will witness a higher growth rate over the assessment period.
In response to tough competition, US also shows the capability to take over the control of pigment dispersion resin market with increasing infrastructure activities as per development policies, this market projects a phenomenal growth rate in coming years. This region is looking most prominent and emerging as a new market for pigment dispersion resin and well-established industries are shifting towards the pigment dispersion resin hence, the penetration of pigment dispersion resin in the market is expected to grow exponentially. U.S & Canada are going to outlast in centre place. The Middle East and Africa showcase minimal share of pigment dispersion resin market.
Pigment Dispersion Resin Market: Key Players
The structure of the pigment dispersion resin market is fragmented as the market leaders haven’t been able to maximize the capabilities across the globe as they channelize their potential within their geographical limits. Lucite International, Systemthree, Arya Chem Inc., Chroma-Tek, Milano Colori, Kraemer and TTC Colours are the major players satisfying demands for pigment dispersion resin with the acquirement of biggest market presence.
Companies are opting for the organic growth strategies seeking the maximum growth such as new product offering, optimization and reallocation of resources. However, regional players in Asia and Africa is a challenge for the global market, offering products with a lower price point and disturbing the whole global market of pigment dispersion resin.