Market Overview
The Inorganic Cosmetics Pigments Market Size is expected to reach around USD 7,200 Million registering a CAGR of 6.8% by the end of the forecast period. The increasing demand for Inorganic Cosmetics Pigments in the cosmetics and personal care sector is one of the major reasons driving the global market's growth. Inorganic cosmetic pigments are predicted to expand in demand in the next years as the demand for cosmetics, particularly facial and hair care products, grows. Inorganic cosmetic pigments are also predicted to expand slowly because of the price volatility of the major raw material and severe limitations on mining activities. Furthermore, the expected increase in demand for inorganic cosmetic pigments in emerging economies, technological advancements, and notable expenditures in R&D by key companies are expected to propel the Inorganic Cosmetics Pigments Market forward soon.
The outbreak of COVID-19 has caused factory and business closures canceled air transport routes, and lockdowns, all of which have had a severe impact on the industry. With the lifting of trade restrictions and lockdown measures, demand is projected to pick up and support market growth.
Market Segmentation
Based on the type and composition, the Inorganic Cosmetics Pigments Market Opportunity Analysis has been segmented into iron oxides, titanium dioxides, zinc oxides, carbon blacks, chromium oxide greens, mica, ultramarines, and others.
Based on the application, the Inorganic Cosmetics Pigments Market has been segmented into facial make-up, lip products, eye make-up, nail products, hair color products, and others.
Based on the region, Inorganic Cosmetics Pigments Market has been segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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Regional Classification
Due to the high availability of raw materials, cheap labor, rapid industrialization, and commercialization in the region, especially with the growth of the personal care industry, the Asia Pacific market accounts for the largest share in the Inorganic Cosmetics Pigments Market during the review period. In the Asia Pacific, China is the major producer and consumer of inorganic cosmetics pigments. The Inorganic Cosmetics Pigments Market's second-largest market was North America. The established presence of cosmetic and personal care manufacturers in the region is a major factor driving the growth of the North American Inorganic Cosmetics Pigments Market Drivers Analysis.
The established presence of key end-use industries and demand for inorganic cosmetic pigments in hair applications are primarily responsible for the region's growth. Germany had the highest proportion of the European market, followed by France. Over the projection period, the inorganic cosmetics pigments market in Latin America, the Middle East, and Africa has shown significant expansion. This rise can be ascribed to global pigment manufacturers' expanding industrialization and the region's economy's turning upward trend, as well as rising per capita disposable income of the region's customers.
Industry News
The major key players in the market are Sudarshan Chemicals Industries Limited, Kolortek Co., Ltd., Sun Chemical, Sensient Cosmetic Technologies, Merck KGaA, Kobo Products Inc., Geotech International B.V., Lanxess AG, ECKART, and The Chemours Company. To maintain and expand their geographic presence, players in the worldwide inorganic cosmetics pigments market use a variety of methods including mergers and acquisitions, product releases, joint ventures, and expansion.
