The color concentrates market was valued at USD 4.24 billion in 2016 and is projected to reach USD 5.80 billion by 2021, at a CAGR of 6.5% from 2016 to 2021. The growth of the color concentrates market is mainly attributed to the growing demand for color concentrates in packaging applications to increase the aesthetic appeal of packaging. Moreover, increasing use of plastics in various industries, such as building & construction, textiles, packaging, and automotive, among others is also driving the growth of the color concentrates market.
Color concentrates are used for coloring plastic materials. Increasing regulations related to use of plastics and their recycling influence the growth of the color concentrates market. Moreover, the regulations related to the use of food grade color concentrates in medical, cosmetics, pharmaceutical, and food & beverages packaging also impact the growth of the color concentrates market.
Among forms, the liquid segment of the color concentrates market is projected to grow at the highest CAGR during the forecast period. The growth of the liquid form segment of the market is due to various properties offered by liquid color concentrates, which include ease of color development, reduced energy consumption in their manufacturing, low material costs, enhanced color dispersion, accuracy in metering, and high color consistency.
Among end-use industries, the packaging segment of the color concentrates market is projected to grow at the highest CAGR from 2016 to 2021. The growth of the packaging end-use industry segment of the market can be attributed to the increasing use of plastics in packaging applications as they offer high strength, increased flexibility, excellent impermeability, lightness, and high stability. Moreover, a high degree of aesthetic appeal of products not only helps in product differentiation but also influences the preferences of customers. Thus, the increasing use of a variety of color concentrates for enhancing the attractiveness of packaging has led to the growth of the packaging end-use industry segment of the color concentrates market.
The Asia-Pacific color concentrates market is projected to grow at the highest CAGR during the forecast period, 2016 to 2021. The Asia-Pacific region has a huge potential for the plastics industry and the plastics industry in the region has been witnessing exponential growth over the last 60 years. The consumption of plastics in the region is increasing with innovations in the plastic industry and expansions in its manufacturing base. China and India are major emerging markets for color concentrates in the Asia-Pacific region, owing to infrastructural developments in these countries. Thus, this region has a high growth potential for color concentrates market.
To uncover the high growth opportunities in Color Concentrates Market, signup for free webinar
Color concentrates are used for coloring plastic materials. Increasing regulations related to use of plastics and their recycling influence the growth of the color concentrates market. Moreover, the regulations related to the use of food grade color concentrates in medical, cosmetics, pharmaceutical, and food & beverages packaging also impact the growth of the color concentrates market.
Among forms, the liquid segment of the color concentrates market is projected to grow at the highest CAGR during the forecast period. The growth of the liquid form segment of the market is due to various properties offered by liquid color concentrates, which include ease of color development, reduced energy consumption in their manufacturing, low material costs, enhanced color dispersion, accuracy in metering, and high color consistency.
Among end-use industries, the packaging segment of the color concentrates market is projected to grow at the highest CAGR from 2016 to 2021. The growth of the packaging end-use industry segment of the market can be attributed to the increasing use of plastics in packaging applications as they offer high strength, increased flexibility, excellent impermeability, lightness, and high stability. Moreover, a high degree of aesthetic appeal of products not only helps in product differentiation but also influences the preferences of customers. Thus, the increasing use of a variety of color concentrates for enhancing the attractiveness of packaging has led to the growth of the packaging end-use industry segment of the color concentrates market.
The Asia-Pacific color concentrates market is projected to grow at the highest CAGR during the forecast period, 2016 to 2021. The Asia-Pacific region has a huge potential for the plastics industry and the plastics industry in the region has been witnessing exponential growth over the last 60 years. The consumption of plastics in the region is increasing with innovations in the plastic industry and expansions in its manufacturing base. China and India are major emerging markets for color concentrates in the Asia-Pacific region, owing to infrastructural developments in these countries. Thus, this region has a high growth potential for color concentrates market.
To uncover the high growth opportunities in Color Concentrates Market, signup for free webinar
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