Colorant market has reached USD 4.745 billion in 2016 and is expected to reach USD 5.665 billion by 2022, with a CAGR of 5% from 2017 to 2022. Due to the increasing emphasis on the aesthetics of product packaging and the increasing application of colorants in plastics, paints and coatings, these factors are driving the colorants market.

Among these product types, masterbatch type colorants market is expected to register the highest CAGR from 2017 to 2022. Due to its low cost and color consistency, we therefore forecast that the master-type colorants market will grow at the highest CAGR. In addition, the booming plastics industry offers new ways to add masterbatches to various end-use industries (e.g. packaging, automotive, construction, etc.).

Among end-use industries, the packaging segment leads the colorant market and is expected to grow at the highest CAGR from 2017 to 2022. The packaging industry leads the colorants market and is expected to grow at the highest CAGR. This segment of the colorants market growth can be attributed to the use of colorants in plastics, paper and metals, as well as in coatings and fabrics used in packaging forms. The use of colorants not only increases the aesthetic appeal of product packaging, but also contributes to product differentiation, thus influencing customer preferences.

The colorant market in Asia Pacific is expected to grow at the highest CAGR for the whole year during the forecast period. Due to the growing middle class population, coupled with rapid urbanization and increasing purchasing power of consumers, the colorants market in APAC is expected to grow at the highest CAGR during the forecast period. The growing consumer goods and packaging end-use industries in the region are also driving the demand for colorants in Asia Pacific, thereby contributing to the growth of the colorants market in the region.

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