The global high Performance Pigments (HPPS) Market size was USD 4.56 billion in 2015 and is projected to reach USD 5.71 billion by 2021, registering a CAGR of 3.81% between 2016 and 2021. Key strategies such as expansions and new product launches are adopted by the major players to meet the demand of end users. The major HPPs manufacturers are also focusing on merger & acquisition activities to strengthen their market position by increasing their share in the HPPs market.
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“High Performance Pigments Market, by Type (Organic - Benzimidazolones, Quinacridones, Perylenes, DPP and Inorganic/Metallic - Bismuth Vanadate, Cadmium), Application (Coatings, Plastics, Inks, Cosmetic Products)—Global Trends & Forecasts to 2021”
Cosmetic products is the fastest growing application of HPPs. The demand for these pigments is increasing in cosmetic products, as the consumers seek products that have less or no harmful effects. Cosmetics made from conventional pigments are toxic and can cause health hazards, this encourages consumers to pay more for these better-quality products, thereby, propelling the growth of the HPPs market in the segment.
Organic HPPs are the most-widely used HPPs and are expected to continue dominating the market during the forecast period. It is also projected to witness the highest growth rate during the forecast period on account of their environmentally-friendly features and increasing demand from applications such as cosmetic products and plastics. Increasing the production of environmentally-friendly HPPs, is a major opportunity for the HPPs manufacturers.
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Some of the major players operating in the global HPPs market are BASF SE (Germany), Clariant AG (U.S.), Huntsman Corporation (Japan), Lanxess AG (Germany), Solvay SA (Belgium), Atul Ltd. (India), Sudarshan Chemical Industries Ltd (India), Heubach GMBH (Germany), Sun Chemical Corporation (U.S.), Synthesia A.S. (Czech Republic), Ferro Corporation (U.S.), and Gharda Chemicals Ltd. (India). Most of the companies have adopted expansions and new product launches as their development strategies to sustain in the global HPPs market.
BASF SE (Germany) is one of the leading HPPs manufacturers in the world. The company has been focusing on expansion activities to maintain its leading position in the market. For instance, in December 2015, BASF SE invested in its Nanjing, China production site to increase its high-performance diketopyrrolopyrrole pigments (DPP) production capacity. This helped the company to strengthen its position in the global HPPs market.
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