Global color concentrates market is expected to rise from its initial estimated value of USD 4.90 billion in 2018 to an estimated value of USD 8.05 billion by 2026, registering a CAGR of 6.4% in the forecast period of 2019-2026. This rise in market value can be attributed to the increase in demand for plastics.
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Color concentrates are the mixture of different colors which are in definite proportion and are used for various purposes. Color concentrates make a color appear rich and increase its aesthetic appeal. There is a growing demand for color concentrates in various applications like packaging, consumer goods, building & construction and automotive activities, which is expected to be one of the major drivers of the market in the coming years.
Key Market Competitors:
Few of the major competitors currently working in global color concentrates market are Clariant, Polyone Corporation, A. Schulman, Inc., Ampacet Corporation, Ferro Corporation, Breen Color Concentrates, Colortech Inc., Chroma Color Corporation, Penn Color, Inc., Plasticoncentrates, Inc., Colortech Inc., PolyOne, Mexichem Specialty Compounds Inc., and many more.
Key Developments in the Market:
- In April 2019, Chroma Color Corp. integrated the production and technical expertise of four different firms to serve the needs of a consolidating processor market. This will affect global market as it will provide customers with easy-to-use colors and would reduce lead times.
- In March 2019, Chroma Color acquired Polymer Concentrates. Chroma Color’s business will exceed $160 million in sales by this acquisition and also their market share will also increase. The company is focusing to have extensive technical and manufacturing expertise.
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- Increasing demand for plastics
- Growing importance of aesthetics in packaging
- Industrialization in developing countries
- Increment in costs due to color matching
- Competition from pre colored compounds
Segmentation: Global Color Concentrates Market
By End-Use Industry
- Consumer Goods
- Building & Construction
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Global color concentrates market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of color concentrates market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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