Asia Pacific Color Concentrates Market is valued at USD 2 billion in 2021 and is expected to become a USD 2.5 billion market by 2026 growing at 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 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.
The solid Color Concentrates market is the larger of the two and this can be attributed to the many salient features of solid color concentrates like lower price, reduced wastage, easier transportation, low let down ratio, low capital requirements for production and dry nature.
But the liquid color concentrates market is anticipated to grow faster due to the numerous other advantages offered by the liquid concentrates, like greater color dissipation and consistency, faster color development, easier and more accurate metering, lower cost of raw materials and energy consumption in production.
By the end use industry the Asia Pacific Color Concentrates market can be categorized into consumer goods, packaging, construction, automotive sectors. Among the sectors the packaging segment is the largest market, this is due to increased use of plastics, dyed paper and cardboard boxes for marketing and packaging of products.
Asia Pacific Color Concentrates Market geographical analysis:
In view of 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 the fasted rate during the forecast period.
By Country – India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC.
Asia Pacific Color Concentrates Market key players:
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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