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New Product Launch is the Key Strategy Adopted by Industry Players to Strengthen Their Positions in the Global Cosmetic Pigments Market
New product launch is the key strategy adopted by industry players to strengthen their positions in the global cosmetic pigments market. This strategy accounted for 44.74% of all growth strategies adopted by market players between 2011 and 2016. Companies adopted the expansions strategy to increase their product portfolios, which accounted for 39.47%, and the mergers & acquisitions strategy, which accounted for 15.79% of all the growth strategies followed by market players in the cosmetic pigments market.
The Asia-Pacific and European regions were the most active, in terms of strategic initiatives undertaken between 2012 and 2016. Expansions was the most favored strategy in the Asia-Pacific region between 2011 and 2016. Most of the companies have established distribution networks and R&D centers in this emerging market. Companies have adopted both, organic and inorganic growth strategies such as expansions, mergers & acquisitions, and new product launches to strengthen their positions in the global cosmetic pigments market.
The global cosmetic pigments market is highly unorganized. Thus the major players of the market consolidate to only 30% of the total cosmetic pigments market. Sun Chemicals (DIC Corp.)(Japan) is the leading player in the global cosmetic pigments market and accounted for a 10% market share between 2011 and 2016. The company is a part of the DIC Group. It is focusing on new product launches as its key business strategy to ensure its growth in the global cosmetic pigments market.
Sudarshan Chemical Industries (India) has gained a strong foothold in the global cosmetic pigments market. It is focusing on organic growth and has enhanced its product portfolio in the effect pigments type market through various growth strategies, such as expansions and joint ventures, to meet the growing demand from customers. Sudarshan Chemical Industries bought Eckartís Effect Pigments, a division of Atlanta, natural mica pearlescent business which focuses on the manufacture of cosmetic products.
Cosmetic Pigments Market by Elemental Composition (Inorganic, and Organic), Technology (Pigment Dispersion and Surface Treatment), Type (Special Effect, Surface Treated, Nano, and Natural Colorant), Application - Global Forecast to 2026
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