Luton, Bedfordshire, United Kingdom, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Color Concentrates Market.
Color concentrates are the pigments blended with a carrier resin. These are the compounds to facilitate the coloring of a wide variety of plastics and for various other applications. The increasing demand from end use industry such as paint, packaging, consumer goods, agriculture (such as mulch film, greenhouse & nursery films) and many others are spurring the demand for color concentrates market.
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The global Color Concentrates market is set to expand at a CAGR of 6.68% over the forecast period (2022-2029), surpassing a valuation of USD 16.19 billion in 2029 from USD 9.05 billion in 2020.
Color concentrate market for liquid form segment is projected to grow at the significant CAGR owing to numerous properties offered by liquid form color concentrates, which include, reduced energy consumption in their manufacturing, accuracy in metering, enhanced color dispersion, low material costs, rapid color development, and increased color consistency. The end use packaging industry segment is important for the color concentrates market and is anticipated to grow at the substantial CAGR during the forecast period.
Asia-Pacific Region to Dominate the Market
The Asia Pacific Excluding Japan (APEJ) region is expected to grow rapidly due to the increasing adoption of color concentrate on a large scale by end user industries. In addition, the expansion of end-use industries in China, India, Indonesia, and Thailand, among others, is contributing to the growth of the APEJ color concentrates market. China is expected to be the most important market for color concentrates in the APEJ region.
Recent Development
April 21, 2022 - FTC Requires Prince and Ferro to Sell Off Three Facilities amid Concerns that Deal would Increase Concentration in North American Market for Porcelain Enamel Frit
- The Federal Trade Commission took action today to preserve competition by requiring Prince International Corp. and Ferro Corp. to divest three facilities used to make porcelain enamel frit, glass enamel, and forehearth colorants, as a condition of Prince’s parent company
February 3, 2021- Clariant expands pigments laboratory for the African market
- Clariant Pigments has the expansion of its new state-of-the-art pigments’ laboratory in Krugersdorp near Johannesburg, an African showcase for sustainable color technology.
Color Concentrates Market: Dynamics
The growing use of aesthetics in packaging and increasing demand for plastics are spurring the demand for color concentrate market. Moreover, industrialization in emerging economies and introduction of universal carrier resins are driving demand for color concentrates market.
However, increased costs due to color matching are hampering the growth of color concentrates market. Also, recycling of plastics is a major challenge for color concentrate market.
| Report Attribute | Details |
| Market size value in 2021 | USD 9.05 billion |
| Revenue forecast in 2029 | USD 16.19 billion |
| Growth rate | CAGR of 6.68% from 2022 to 2029 |
| Base year for estimation | 2021 |
| Historical data | 2017-2021 |
| Forecast period | 2022 - 2029 |
| Quantitative units | Volume in tons, revenue in USD million, and CAGR from 2022 to 2029 |
| Report coverage | Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, form, end use, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; China; India; Japan; South Korea; Brazil; Argentina; South Africa; Saudi Arabia |
| Key companies profiled | Clariant, PolyOne Corporation, A. Schulman, Inc., Ampacet Corporation, Ferro Corporation, Breen Color Concentrates, Hudson Color Concentrates, Penn Color, Inc., Colortech Inc. and Plasticoncentrates, Inc. |
| Key Market Opportunities | Color Concentrates Technology is developing rapidly with the introduction of different types of materials |
| Customization scope - Pricing and purchase options | The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel. |
Prominent Companies to Acquire Crucial Players to Enhance their Market Position
The global color concentrates market is partially consolidated in nature, with the top ten players accounting for a major share of the global market. Some of the prominent players in the market include Clariant, PolyOne Corporation, A. Schulman, Inc., Ampacet Corporation, Ferro Corporation, Breen Color Concentrates, Hudson Color Concentrates, Penn Color, Inc., Colortech Inc. and Plasticoncentrates, Inc.
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Key Market Segments: Color Concentrates Market
Color Concentrates Market by Form, 2022-2029
- Liquid
- Solid
Color Concentrates Market by End Use Industry, 2022-2029
- Packaging
- Consumer Goods
- Building & Construction
- Automotive
Color Concentrates Market by Region, 2022-2029
- Asia Pacific
- Europe
- North America
- South America
- Middle East and Africa
Key Drivers for Global Color Concentrates Market
- The global color concentrates market is driven by the increase in use of aesthetics packaging industry. Rise in demand for packaged food is augmenting the demand for color concentrates in packaging industry.
- The global color concentrates market is also driven by the increase in demand for plastic materials, as these materials have superior characteristics, including heat resistance, chemical stability, and can easily blended in plastics.
Automotive Segment to Offer Lucrative Opportunities
- Automotive segment is expected to provide lucrative opportunities for color concentrate manufacturers in the near future. The scenario of automotive industry is going to change after 2020, and most of the vehicles are going to be electric vehicles.
- Electric vehicles mainly consist of plastics and composites. Moreover, metal parts are being replaced by plastic components, thus augmenting the use of color concentrates in vehicles.
Non-recyclability of Plastics to Hamper Market
- The major challenge currently being faced by companies is recycling of plastics. Color concentrates are blended into plastics, which cannot be recycled. Only 9% of the global plastics is recycled, while others are disposed in landfills.
- Increase in cost of color matching is hampering the demand for color concentrates. Moreover, it is not suitable for use in some applications.
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