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LONDON, Jan. 14, 2021 /PRNewswire/ Urbanization is the major enabler for soaring demand of pigments in the global market. Rising construction activities have led to increased demand for building materials, bolstering the demand for pigments that lend the desired aesthetic. Fairfield Market Research predicts, the global pigments market
will be worth US$40 Bn by the end of 2025 from US$30.1 Bn in 2017. The report indicates that the market will register a CAGR of 4.6% between 2021 and 2025.
Paints and coatings industry is the largest consumer of pigments as it accounted for 57.5% of total market share in 2017. Pigments are primarily used for safeguarding paints against extreme weather conditions and corrosions. This makes it an ideal option for the paint and coatings industry to add visual and functional appeal to buildings.