exponential growth of plastic industry is driving the Cadmium Pigments Market
Technavio analyzes that the Cadmium Pigments Market is expected to grow at a CAGR of 4.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 66.6 million.There are various factors that contribute to the growth of the market. The cadmium pigments market is experiencing significant growth due to the exponential expansion of the plastic industry. These pigments, known for their vibrant colors and high stability, are extensively used in plastic manufacturing. The increasing demand for plastics in various sectors, including packaging, automotive, and construction, is driving the market's growth. Cadmium sulfide and cadmium selenide are the most commonly used cadmium pigments, and their demand is expected to remain robust in the coming years.
In the realm of industrial coatings, cadmium pigments play a pivotal role in enhancing the performance and durability of various products. These pigments are extensively used in painting and coating applications for iron, steel, brass, and aluminum substrates. By providing superior corrosion resistance, particularly in marine and alkaline environments, cadmium pigments protect the underlying materials from degradation. Cadmium, similar to zinc, acts as a sacrificial coating. When the top layer is breached, cadmium prevents the substrate from being corroded, ensuring extended product life. Furthermore, cadmium coatings offer desirable properties such as low coefficient of friction, excellent lubricity, predictable torque characteristics, and good electrical conductivity. These attributes are essential for high-temperature resistance plastics, complex polymers, enamels, and rubber in various engineering applications across industries. Additionally, cadmium pigments contribute to the chemical stability and weather fastness of coatings. They offer protection from galvanic corrosion and facilitate easy solderability. Moreover, the low volume corrosion products generated by cadmium pigments reduce the risks of operating mechanisms being jammed by corrosion debris. Thus, the use of cadmium pigments in coatings significantly improves product reliability and efficiency.
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Cadmium Pigments Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The Cadmium Pigments market encompasses the production and supply of Cadmium pigments for various industries, including plastics, ceramics, industrial paints, and glass. These inorganic coloring agents offer high thermal and alkali resistance, making them suitable for high-performance applications. Notable Cadmium pigments include Cadmium Yellows, Cadmium Reds, and Cadmium Oranges. However, health concerns associated with their production and disposal, such as the Cadmium Attack Process and Striking Process, pose challenges to the market. The Paints and Coatings, Rubber, and Construction sectors are significant consumers of these pigments, while manufacturing processes like Pigment Drying, Milling and Blending, and Wastewater Pretreatment are involved in their production. High-Performance Pigments continue to drive demand for Cadmium pigments despite regulatory hurdles.
The commodity chemicals market encompasses businesses specializing in the production of industrial and fundamental chemicals, such as plastics, synthetic fibers, films, industrial paints and pigments, explosives, and petrochemicals. Notably, this sector excludes chemical companies focusing on diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. According to Technavio, the global commodity chemicals market size is determined by the consolidated revenue generated by manufacturers of industrial and basic chemicals. Key growth drivers for this market include the escalating demand for plastic packaging, driven by its widespread usage in the packaging industry due to its lightweight and corrosion-resistant properties, leading to continuous innovation and impacting the chemical industry's role in plastic packaging material manufacturing.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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