As an important branch of the chemical industry, the pigment industry has been reshaped in recent years with the tightening of environmental regulations and technological upgrades. According to Grand View Research data, the global pigment market size will reach US$32.6 billion in 2023. and is expected to exceed US$45 billion in 2030. with a compound annual growth rate of 4.7%. In this context, if companies want to become new giants in the industry, they need to make efforts in three dimensions: technological innovation, product layout and sustainable development.
1. Technological innovation: Breakthrough in high-end fields
The pigment industry is transforming from traditional inorganic pigments to high-performance organic pigments. High-end organic pigments represented by phthalocyanine blue and quinacridone continue to increase their market share due to their excellent weather resistance and color stability. Companies need to increase R&D investment and focus on breakthroughs in the following technologies:
Environmentally friendly pigments: Develop low-heavy metal, VOCs-free water-based pigments to meet the requirements of EU REACH and other regulations.
Nano pigments: Improve pigment dispersibility and hiding power through nanotechnology, suitable for high value-added fields such as automotive coatings.
Functional pigments: such as infrared reflective pigments, can be used in energy-saving building coatings.
In terms of solvent selection, Diacetone alcohol is becoming an ideal additive for high-end pigment production due to its excellent solubility and low toxicity, especially in resin synthesis and pigment dispersion.
2. Product layout: covering the entire industry chain
Coating companies usually operate multiple types of products to enhance market competitiveness, mainly including:
Decorative coatings: occupy the largest market share and are used for interior and exterior walls of buildings.
Industrial coatings: including special coatings in the fields of automobiles, ships, aerospace, etc.
Functional coatings: such as fireproof, anti-corrosion, and heat-insulating coatings, demand is growing rapidly.
In the field of fire-retardant coatings, Fire resistant fluid 46EH, as a high-efficiency flame retardant, can significantly improve the fire resistance of coatings and is suitable for high-risk scenarios such as oil pipelines and power facilities.
3. Sustainable development: green and circular economy
Global demand for sustainable pigments has surged. According to Axalta data, water-based coatings accounted for more than 40% in 2023 and are expected to reach 60% in 2030. Companies need to adopt the following strategies:
Bio-based pigments: Use renewable raw materials to reduce carbon footprint.
Waste recycling: Establish a closed loop for pigment production and reduce resource consumption.
Low-carbon process: Promote energy-saving equipment and reduce production emissions.
To become a new giant in the pigment industry, it is necessary to drive technological innovation, improve the layout of the entire industry chain, and practice sustainable development. By focusing on the high-end market and optimizing the product portfolio, companies are expected to take a leading position in the rapidly changing industry.
