Resin Pigments Market to witness a CAGR of 4.0% during 2022-2031

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 The resin pigments market is set to witness a CAGR of 4.0% during 2021-2031. Resin pigments are some sort of resin pigment colorant which existed in the form of liquid. Liquid pigment can be applied in any vehicle and mixed to create any shade or color. It widely used by resin artist s for color dyeing. (Alcohol ink is a special liquid pigment).

Increased use of the product in the paints & coatings, plastics, and textile industries is expected to drive global market growth. Colorants made from resin pigments are widely used in the plastics and textile industries.

Because of the widespread use of plastics in packaging applications, the plastics industry is rapidly expanding. In the future years, this is likely to boost demand for resin pigments and propel global market expansion.

Furthermore, rising demand for resin pigments in the creation of printing inks is expected to be a major driver of global market expansion. Nonetheless, the expanding spectrum of resin pigment applications in the electronics industry is expected to provide profitable prospects for market players in the coming years.

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Trends in Resin Pigments Likely to Augment Sales

The market players are concentrating their efforts on research and advanced technology, which is expected to boost sales during the forecast period. Harima’s resins and tall oil products division, for example, draws on a wealth of advanced technologies and know-how to meet the diverse functional and performance requirements of printing inks, paints, adhesives, synthetic rubbers, and a variety of other consumer goods. In the sectors of printing ink resin, adhesive resin, and synthetic rubber emulsifier, the company offers a wide range of key goods.

Impact of Covid- 19 on Resin Pigments Market

In 2020, COVID-19 had a negative impact on the market. A disrupted global supply chain, as well as decreasing demand from a variety of end-user industries such as paints and coatings, plastics, textiles, and others, have influenced the market for resin pigments.

The paints and coatings industry is the major consumer of resin pigments, however due to the lockdown, factories have ceased production, resulting in a drop in resin pigment demand.

The increased demand for dependable commercial items, such as 3D printing materials, will likely present an opportunity in the future.

US and Canada Resin Pigments Market Outlook

Increasing construction activity in North America is expected to drive up pigment demand over the forecast period. Plastics and printing inks are two other important application industries that contribute to market demand.

Construction spending was anticipated at a seasonally adjusted annual rate of $1,568.8 billion in July 2021, up 0.3 percent (1.2 percent)* from the revised June estimate of $1,563.4 billion, according to the US Census Bureau.

Publication print inks, offset inks, solvent packaging inks, decorative laminate inks, and water-based packaging inks all use the product. These are also frequently utilized in plastic applications, namely for cosmetics, healthcare, food and beverage packaging, and other consumer products packaging.

During the review period, the plastic application segment is expected to earn significant revenue due to rising food and beverage demand as well as rising cosmetics demand.

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Europe Demand Outlook for Resin Pigments

The rise of the resin pigments market could be due to the rising demand for packaged food. Furthermore, resin manufacturers’ R&D and innovation are moving the sector forward. The market is benefiting from the increased usage of polyurethane resin in flexible packaging, which is pushing up demand for resin pigments in Europe.

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