January 20, 2020 - According to CPMA Executive Director, David Wawer, "the top issues for the color pigments industry in 2019 were: the overall U.S. economy, industry consolidation, raw materials cost, raw materials availability, and trade and tariffs. He expects the U.S. economy to remain the top issue in 2020, followed by trade and tariffs." Wawer was featured in January's Pigments Update, Coatings World, providing insight on market trends, potential growth regions and tariff issues.
According to Global Market Insights, "the pigments market was estimated at $14.86 billion in 2018" and is "forecasted to reach $20 billion by 2025, as it registers a 4.9 percent CAGR between 2019 and 2026. Global Market Insights said that the paint and coatings industry – valued at more than $128 billion in 2018 – will remain the largest demand segment for pigments over the timespan.
The production of paints and coatings accounted for 45 percent of total global demand in 2017, according to market research company Ceresana.
However, escalating raw material prices may hamper the product demand to some extent during that period, per Global Market Insights."
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Used by permission of Coatings World; www.coatingsworld.com.
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