Ultramarine Pigments Market: Overview
The overwhelming applications of ultramarine pigments in inks, cosmetics and personal care, detergents, rubber and plastics, paper, paints and coatings, and others may bring good growth for the global ultramarine pigments market during the forecast period of 2020-2030. These pigments are imbued in various products to enhance their finishing. Ultramarine pigment was earlier derived from lapis lazuli rocks. The pigments are largely popular for their deep blue color.
Based on grade, the ultramarine pigments market can be classified into industrial grade, cosmetic grade, and laundry grade. The rising disposable income among a considerable chunk of individuals and the growing influence of urbanization and industrialization is bringing expansive growth prospects for the ultramarine pigments market.
This report presents diverse growth factors to the stakeholders that help them achieve copious growth in the ultramarine pigments market. The detailed analysis of each factor related to the growth of the ultramarine pigments market will be presented in this report. A point-to-point analysis of TMRs (Trends, Manufacturers, and Regions) associated with the ultramarine pigments market is reflected in the report.
The report also includes details about the COVID-19 impact on the ultramarine pigments market and the vital threats that the ultramarine pigments market may face between 2020 and 2030.
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Ultramarine Pigments Market: Competitive Analysis
The players in the ultramarine pigments market invest heavily in research and development activities for garnering a larger revenue share. These activities lead to the discovery of novel insights that bring immense growth for the ultramarine pigments market.
Manufacturers in the ultramarine pigments market are also involved in activities like mergers, acquisitions, collaborations, partnerships, and joint ventures for expanding their influence across the ultramarine pigments market. Such activities eventually result in increasing the growth rate of the ultramarine pigments market. Expansion activities are one of the prominent focus points of the players. This helps the players to cater smoothly to the demand for ultramarine pigments from various end-users.
Forging tie-ups with vendors and distributors also assures a hassle-free network of supply chain and logistics. Therefore, many players are involved in spinning a strong web of a network of vendors and distributors across various countries. Some well-established players in the ultramarine pigments market are Lapis Lazuli Pigments Co., Ltd, Hangzhou Han-Color Chemical Co. Ltd., Ferro Corporation, Ultramarine & Pigments Ltd, R.S.Pigments, Venator Materials PLC, BASF SE, Yipin Pigments, Inc., Dominion Colour Corporation, and Ultramarines India ( P ) Ltd.
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Ultramarine Pigments Market: COVID-19 Impact
The novel coronavirus pandemic has changed the dynamics of various sectors to a great extent. The advent of the SARS-CoV-2 outbreak has led to tremendous losses across the globe. Almost all sectors have been negatively affected. The ultramarine pigments market is one of the negatively affected sectors.
The lockdown impositions by government bodies of numerous countries led to the closing down of manufacturing facilities and production units. This halted the production of ultramarine pigments and the demand also decreased. Hence, the ultramarine pigments market observed a slump in the growth rate.
The effect of the COVID-19 pandemic on the ultramarine pigments market may haunt for a long term. However, growth opportunities knock the door of the ultramarine pigments market as many countries are relaxing lockdown restrictions to bring the economy on track.
Ultramarine Pigments Market: Regional Prospects
Among all the regions, Asia Pacific may display good growth prospects for the ultramarine pigments market. China represents a larger share of the ultramarine pigments market growth in the region. A rise in disposable income and heightening urbanization in various countries across Asia Pacific may serve as prominent growth generators. North America and Europe are estimated to observe moderate growth during the forecast period.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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