High-performance pigments (HPPs) are organic pigments with superior features such as heat and light stability, high tinting strength, and excellent color fastness, making them appropriate for a wide range of applications in sectors such as coatings, plastics, and printing inks. HPPs are more expensive than standard pigments, but they perform and last longer, making them an appealing choice for high-end applications where quality is crucial.
The report "High-Performance Pigments Market by Type (Organic, Inorganic, and Hybrid), Application (Coatings, Plastics, Inks, Cosmetics), End-use Industry (Automotive & Transportation, Construction & Infrastructure, Printing, Industrial), and Region - Global Forecast to 2024", The HPPs market size is expected to grow from USD 5.2 billion in 2019 to USD 6.4 billion by 2024, at a CAGR of 4.3% during the forecast period. The HPPs market industry is growing due to the increase in the number of cars, trains, airplanes, ships, and increasing construction & infrastructure activities globally.
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Organic HPPs market comprises a significant share of the HPPs market, in terms of value.
Organic HPPs account for a sizable portion of the overall HPPs market, owing to benefits such as environmental friendliness, low toxicity, and great color stability. The growing awareness of sustainability and environmental issues is predicted to increase demand for organic HPPs in a variety of applications such as coatings, polymers, and cosmetics.
The coatings application accounted for the largest market share in the global HPPs market during the forecast period.
Coatings is a prominent segment of the global High-Performance Pigments (HPPs) market, accounting for the biggest market share in 2020. The outstanding features of HPPs in coatings, such as good color retention, weather resistance, and durability, make them perfect for demanding applications in the automotive, aerospace, and industrial sectors. Plastics, inks, cosmetics, and textiles are some of the additional applications for HPPs.
APAC is expected to account for the largest market share in the HPPs market during the forecast period.
During the projection period, Asia Pacific is expected to hold the greatest market share in the worldwide High-Performance Pigments (HPPs) market. End-use industries such as automotive, construction, and consumer products are important consumers of HPPs in the region. The region's demand for high-quality products with improved performance and aesthetics is boosting demand for HPPs. Because of their growing economies, expanding industrialization, and increased demand for innovative materials, China, India, and Japan are the region's primary markets for HPPs.
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The key players in the market are BASF SE (Germany), Clariant (Switzerland), DIC Corporation (Japan), Ferro Corporation (US), Lanxess (Germany), Heubach GmbH (Germany), Venator Materials PLC (UK), Sudarshan Chemical Industries Limited (India), Atul Ltd. (India), and Synthesia A.S. (Czech Republic) and others.
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