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The demand for the ultramarine blue industry is majorly being propelled by the pigment industry that has being growing rapidly in the recent years because of the increasing end use. The ultramarine blue that is manufactured synthetically has very cost-efficient advantage that enhances its market demand. The growing applications for ultramarine blue industry are leading to a spurt in the growth of market. The paint segment is one of the leading application markets for ultramarine blue owing to the growing construction industry in the developing economies. Ultramarine blue also finds its use in the manufacturing of make-up such as eyeshadows and mascaras. The personal care application segment is anticipated to register substantial growth in coming years. The reason is attributed to evolving fashion trends and the growing awareness for personal grooming and skincare.
The key players in ultramarine blue industry have been increasing investments in research and development to promote better products. The new innovations and improvements will accelerate the demand for industry. The major companies involved in ultramarine blue market and pigment industry are also trying to increase their revenue share through acquisition, merger, and business collaboration with other firms. They have also been emphasizing on expanding their distribution channel to agglomerate the market demand. In August 2019, DIC (OTCMKTS: DICCF), popular fine chemical company acquired the global pigment business of BASFE (NASDAQ: BASFY). The acquisition can integrate the complementary knowledge and operation practices to create more innovative solutions. The strategic acquisitions can bolster the growth of pigment industry in the coming years.
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The major players in the global ultramarine blue market are Yipin USA Inc., Vibfast Pigments Pvt. Ltd., Proquimac PFC, S.A., and Mad Oils, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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