In its latest study, Ceresana forecasts a rise in demand by more than 3% p.a. in Eastern Europe, the Middle East and South America, good news for these saturated markets that have suffered losses in the past couple of years.
Pigments can be used in all types of cosmetics and personal care applications to add colour, luster, shimmer and shine. They can enable a brand to incorporate a new trend or colour scheme into its products.
The material can also be used in colouring cosmetic plastic packaging for example. However; as brands make efforts to become greener so will the packaging materials they choose to use.
According to Ceresana, the presence of pigment-processing industries is subjected to regional differences; the demand for individual types of pigments depends on the requirements of the industry in question. Hence, demand for specific types of pigments may vary widely among the regions.
Market breakdown
Looking across the pond the market analyst says the North America consumes a disproportionately large amount of organic pigments whilst the AP region will continue to be the growth motor of the sector, as China and India in particular are substantially increasing demand for pigments.
Even further afield it notes Asia-Pacific as accounting for almost half of global consumption of pigments already and is expected to increase its share of the market even further.
The largest growth potential in Asia-Pacific is expected for carbon black pigments.
Forums now dedicated to the pigments segment as it grows
The pigment and colour segments have really started to take off so much so that forums are now solely dedicated to the innovation and development within them.
Organisers of one such show launched last year; the 'Pigment and Colour Science Forum' encompassed for the first time a platform for all segments of the pigment sector, after professionals in the area highlighted a lack of connection across the departments.
Top subjects and sector issues addressed included advancements in process equipment, analysis and testing, colour cosmetics, R&D, design aesthetics, shade matching, regulation, nanomaterials, and formulation consistency and gathered professionals from academic, R&D and performance engineering backgrounds.