Asia Pacific Color Concentrates Market is valued at USD 2 billion in 2022 and is expected to become a USD 2.5 billion market by 2028 growing at a CAGR of 9.2%.
Color Concentrates are the pigments that are blended with other compounds to produce goods with the desired color. They are used to increase the aesthetic and visual appeal of the product, which helps in attracting customers and in establishing the Brand by distinguishing it from the products of other competitors. The growth in the market is driven by increasing demand for plastics, packaging materials, paints and varnishes, pharmaceuticals, cosmetics, packed food products, beverages, and construction materials. Due to their ubiquitous usage color concentrates find application in many industries. Growing consumerism and increased usage of plastics and packaging materials are contributing to the ever-increasing demand for color concentrates. Environmental restrictions on the processes used to make these color concentrates, increasing labor and production costs, and the restrictions on usage and recycling of plastics are among the factors that are restricting the growth of the Color Concentrates market.
In view of the region, the Asia Pacific Color Concentrates Market has been fragmented into countries like India, Japan, Korea, Australia, and China. Asia Pacific region is the largest and fastest growing market for Color Concentrates Market. In Asia, China is the biggest market while India is expected to grow at a fast rate during the forecast period.
By Country – India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore, and the Rest of APAC.
Major companies plying their trade in the Asia Pacific Color Concentrates Market include Ampacet Corporation, Ferro Corporation, A. Schulman, Inc., Penn Color, Inc., and PolyOne Corporation.
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