Pigment Dispersion

Pigment Dispersion Market Outlook

The global pigment dispersion market is projected to reach USD 14.5 billion by 2035, with a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2025 to 2035. The growth of this market is primarily driven by the increasing demand for high-quality pigments in various applications such as paints, coatings, and printing inks, as well as the rising trend of aesthetics in consumer products. Furthermore, the expansion of the automotive and construction sectors, alongside a growing awareness of environmentally friendly products, is propelling the demand for advanced pigment dispersion solutions. This growth is further supported by the ongoing innovations in pigment technology, which are aimed at enhancing durability, color stability, and performance across a range of applications. As industries continue to evolve, the pigment dispersion market is poised for significant growth, influenced by both existing demands and emerging trends.

Growth Factor of the Market

One of the primary growth factors fueling the pigment dispersion market is the rising demand for environmentally friendly and sustainable products, which is driving manufacturers to innovate and enhance their product offerings. As regulatory pressures regarding environmental standards increase, companies are investing in developing bio-based and non-toxic pigments that align with ecological requirements, thereby attracting a broader customer base. Moreover, the rapid expansion of the automotive and construction industries has led to an increased application of pigments in coatings, contributing to market growth. The trend towards customization and personalization in consumer products, including textiles and cosmetics, further propels demand for specialized pigment dispersions that can provide unique colors and finishes. Additionally, advancements in distribution channels, such as online retailing, have increased market accessibility, enabling consumers to source high-quality pigment dispersions easily.

Key Highlights of the Market

• The global pigment dispersion market is estimated to reach USD 14.5 billion by 2035.
• North America and Europe are expected to hold significant shares of the market due to their advanced manufacturing capabilities.
• Organic pigment dispersion is projected to witness the highest growth due to its superior color strength and stability.
• The paints and coatings application segment is anticipated to dominate the market, driven by increasing construction activities.
• Online retail channels are gaining traction, providing better access to a variety of pigment dispersion products for consumers and businesses alike.

By Product Type

Organic Pigment Dispersion:

Organic pigment dispersion is characterized by its vibrant colors and high tinting strength, making it a popular choice across various applications like paints, inks, and plastics. These dispersions are often derived from carbon-based compounds and are appreciated for their lightfastness and resistance to fading. The growing trend of eco-friendliness has led to innovations in organic pigments that are non-toxic and have a minimal environmental impact. As a result, they are increasingly favored in consumer goods, cosmetics, and textiles. Furthermore, the versatility of organic pigments enables manufacturers to produce a wide range of colors, catering to diverse market needs. This segment is expected to grow significantly, driven by the increasing demand for high-performance products in various industries.

Inorganic Pigment Dispersion:

Inorganic pigment dispersion is widely recognized for its durability, opacity, and resistance to temperature extremes and chemical exposure. These pigments, often based on metal oxides, offer a broad color spectrum, including strong and vibrant shades. They are extensively used in applications such as construction materials, automotive coatings, and industrial paints due to their stability and resistance to environmental factors. Additionally, advancements in manufacturing techniques are leading to the development of high-performance inorganic dispersions that provide enhanced properties, such as improved corrosion resistance. The growing demand for durable and long-lasting products in various industries is expected to drive the growth of this segment in the coming years.

Specialty Pigment Dispersion:

Specialty pigment dispersions are designed for specific applications that require unique color properties or performance characteristics. This type of pigment is used in niche markets such as cosmetics, specialty coatings, and automotive finishes, where color precision and aesthetics are paramount. The market for specialty pigments is witnessing growth due to increasing consumer demand for unique colors and effects, such as metallic and pearlescent finishes. Manufacturers are focusing on innovation to provide unique formulations that meet these aesthetic needs. As trends toward personalization and customization in products grow, the specialty pigment dispersion market is expected to see significant advancements and increased market share.

High Performance Pigment Dispersion:

High performance pigment dispersions are engineered to withstand extreme conditions and provide superior durability, making them suitable for industrial applications, automotive coatings, and high-quality printing inks. These dispersions feature advanced chemical formulations that enhance resistance to heat, chemicals, and UV radiation, thereby prolonging the lifespan of the final product. The increasing demand for high-performance materials in various sectors, particularly those requiring long-lasting color and performance, is shaping the growth trajectory of this segment. As industries increasingly prioritize quality and longevity, the high-performance pigment dispersion market is expected to expand significantly.

Fluorescent Pigment Dispersion:

Fluorescent pigment dispersions are characterized by their ability to emit light when exposed to UV light, creating vibrant and eye-catching effects. These pigments are widely used in applications such as safety signage, promotional materials, and fashion, where visibility and aesthetics play a crucial role. The growing interest in vibrant and bold colors in various industries has led to an increase in demand for fluorescent pigments. Additionally, advancements in technology are enabling the development of more durable and stable fluorescent pigments, expanding their applications even further. The market for fluorescent pigment dispersion is anticipated to grow as industries explore creative and innovative uses of these pigments.

By Application

Paints & Coatings:

The paints and coatings application segment holds a significant share of the pigment dispersion market, owing to the increasing demand for aesthetically pleasing and durable surfaces in residential, commercial, and industrial applications. The growth of the construction sector and the rising trend of home improvement projects contribute to the expansion of this segment. Moreover, the automotive industry continues to drive demand due to the necessity for high-quality finishes that can withstand environmental conditions. As manufacturers focus on developing innovative and eco-friendly coatings, the pigment dispersion used in this segment is expected to evolve, supporting sustainable practices while meeting performance expectations.

Printing Inks:

Printing inks represent another crucial application of pigment dispersions, utilized in sectors ranging from packaging to textiles. The market is expanding due to the increasing demand for printed materials, particularly in packaging and advertising. Innovations in digital printing technology have also influenced the demand for high-quality pigments that can achieve vibrant colors and precise details. Additionally, the shift toward sustainable packaging solutions is pushing manufacturers to explore water-based inks and eco-friendly pigments. As consumer preferences evolve and printing techniques advance, the pigment dispersion used in printing inks is likely to see substantial growth.

Plastics:

The use of pigment dispersions in plastics is growing, driven by the increasing need for colored and functional plastic products across various industries, including automotive, consumer goods, and packaging. Pigments enhance not only the aesthetic appeal but also the UV resistance and thermal stability of plastic materials. The trend towards lightweight and durable products in the automotive sector further fuels demand for high-performance plastic pigments. As manufacturers seek to innovate and produce visually appealing and functional plastic products, the pigment dispersion market for plastics is expected to experience significant growth.

Textiles:

In the textile industry, pigment dispersions are crucial for achieving vibrant colors and design patterns in fabrics. The growing demand for colored textiles in fashion and home decor is driving this segment’s growth. Innovations in dyeing techniques and the increasing emphasis on sustainable practices have led to the adoption of water-based and eco-friendly pigment dispersions. Additionally, the rise of fast fashion and custom textile products has increased the need for efficient and high-quality coloring solutions. As sustainability continues to influence consumer choices, the pigment dispersion market for textiles is poised for growth.

Cosmetics:

Cosmetics represent a rapidly growing application for pigment dispersions, where skin-safe, vibrant colors are essential for product appeal. The demand for natural and organic cosmetic products is leading manufacturers to innovate formulations that meet safety and environmental standards. Pigment dispersions in cosmetics must provide not only color but also performance characteristics such as stability and skin compatibility. As the cosmetic industry evolves, there is a growing focus on sustainable and ethically sourced ingredients, which is likely to shape the future of pigment dispersions in this application. The demand for high-quality and safe cosmetic products is expected to drive significant growth in this sector.

By Distribution Channel

Direct Sales:

Direct sales remain a significant distribution channel for pigment dispersions, as manufacturers often prefer this method to maintain control over pricing, branding, and customer relationships. This approach allows companies to establish direct communication with their clientele, which facilitates tailored solutions that meet specific customer needs. Additionally, direct sales can yield higher profit margins by eliminating intermediaries. This channel is particularly beneficial for high-end products, where customer education and service play a vital role in the purchasing decision. As manufacturers continue to prioritize consumer engagement and service quality, direct sales are likely to remain a key distribution method within the pigment dispersion market.

Distributors:

Distributors play a critical role in the pigment dispersion market by providing a broader reach and facilitating access to various customers across different regions. They often possess in-depth knowledge of the market landscape and can offer valuable insights into customer preferences and trends. Distributors also aid in inventory management and logistics, ensuring timely delivery of products to manufacturers and retailers. This channel is particularly advantageous for small to medium-sized manufacturers who may lack the resources to establish extensive sales networks. As the market continues to expand, the role of distributors will be increasingly vital in enhancing supply chain efficiency and customer satisfaction.

Online Retail:

Online retail is becoming an increasingly important distribution channel for pigment dispersions, driven by the growing trend of e-commerce and digital shopping. This platform offers consumers and businesses access to a wide range of products, often at competitive prices. Additionally, online retail enables manufacturers to reach a global audience without the need for physical storefronts, thereby reducing overhead costs. The convenience of online shopping, combined with detailed product information and customer reviews, enhances the purchasing experience for buyers. As consumers become more comfortable shopping online and as technology continues to advance, the online retail channel is expected to drive substantial growth in the pigment dispersion market.

By Ingredient Type

Water-based Pigment Dispersion:

Water-based pigment dispersions are gaining popularity due to their low environmental impact and compliance with stringent regulations regarding volatile organic compounds (VOCs). These dispersions are widely used in applications such as paints, coatings, and inks, where eco-friendliness and user safety are paramount. The growing trend towards sustainability has prompted manufacturers to invest in the development of high-quality water-based formulations that offer vibrant colors and excellent performance. As awareness of environmental issues rises, the demand for water-based pigment dispersions is expected to increase significantly, particularly in consumer-facing products.

Solvent-based Pigment Dispersion:

Solvent-based pigment dispersions are known for their excellent compatibility with various substrates and their ability to produce vivid colors. These dispersions are commonly used in industrial applications, including automotive coatings and high-performance inks, where durability and resilience are essential. While the demand for solvent-based dispersions remains strong, regulatory pressures around VOC emissions are pushing manufacturers to innovate and create formulations with reduced environmental impact. As industries navigate these challenges, the solvent-based pigment dispersion market is likely to evolve, accommodating both performance requirements and sustainability goals.

UV-curable Pigment Dispersion:

UV-curable pigment dispersions are engineered for applications where rapid curing and high-performance properties are required. These dispersions are increasingly used in printing inks and coatings that are exposed to UV light, offering enhanced durability and chemical resistance. The growth of this segment is closely linked to advancements in UV-curing technologies, which allow for faster production times and improved quality. As manufacturers demand enhanced efficiency and performance in their applications, the adoption of UV-curable pigment dispersions is expected to rise, driven by the need for high-speed curing processes and superior end-product characteristics.

High Solid Pigment Dispersion:

High solid pigment dispersions are characterized by their content of solid pigments, which allow for greater color strength and lower volumes of solvent usage. This type of dispersion is particularly advantageous in applications where minimizing VOC emissions and enhancing efficiency are critical. Industries such as automotive, industrial, and decorative coatings are increasingly embracing high solid formulations to achieve vibrant colors while adhering to environmental regulations. The growing focus on sustainability and performance in coating solutions is expected to fuel the demand for high solid pigment dispersions in the upcoming years.

Powder Pigment Dispersion:

Powder pigment dispersions provide a versatile solution for various applications, particularly in industries that require custom formulations and unique colors. These dispersions are often preferred in production settings where specific color matching is essential. The flexibility of powder formulations allows manufacturers to create tailored solutions that meet exact customer specifications. As industries look to enhance product differentiation and customization, the demand for powder pigment dispersions is anticipated to grow. Innovations in powder handling and dispersing technologies will further support this segment's expansion.

By Region

The pigment dispersion market demonstrates a diverse geographical landscape, with North America and Europe holding significant shares due to their well-established manufacturing sectors and stringent regulatory frameworks promoting sustainable practices. North America is projected to grow at a CAGR of 6.2% over the forecast period, driven by the increasing demand for high-quality pigments in automotive and construction applications. Additionally, the growing trend towards eco-friendly and sustainable products in this region has led to innovations in pigment technologies, further supporting market growth. The presence of key players and advanced manufacturing facilities in the region enhances its competitiveness in the global market.

In contrast, the Asia Pacific region is emerging as a robust market for pigment dispersions, with a projected growth rate of 7.1% during the forecast period. This growth is primarily attributed to rapid industrialization, urbanization, and expanding end-user industries such as textiles and plastics. Countries like China and India are witnessing a surge in demand for pigment dispersions as they develop their manufacturing capabilities and respond to consumer preferences for vibrant and durable products. The rise of e-commerce and improved distribution channels in the region further amplify the accessibility of pigment dispersions, contributing to the overall market growth.

Opportunities

The pigment dispersion market is brimming with opportunities, particularly as industries continue to innovate and prioritize sustainability. The shift towards eco-friendly formulations offers significant potential for manufacturers to develop water-based and bio-based pigment dispersions that cater to environmentally conscious consumers. By investing in research and development, companies can create products that not only meet regulatory requirements but also appeal to the growing market segment seeking sustainable solutions. Additionally, the demand for customization in product design presents avenues for growth, as manufacturers can leverage advanced technologies to offer tailored pigment dispersions that satisfy specific customer needs in various applications.

Furthermore, the rapid technological advancements in pigment dispersion manufacturing and application processes are creating new opportunities for market players. Innovations in digital printing technologies and improved distribution methods are enabling manufacturers to reach a broader audience while enhancing product quality and performance. As industries such as automotive, construction, and consumer goods continue to evolve, the demand for high-quality pigment dispersions that offer superior durability and aesthetic appeal will only increase. Companies that capitalize on these trends and invest in innovative solutions are well-positioned to thrive in the dynamic pigment dispersion market.

Threats

Despite the growth potential, the pigment dispersion market faces several threats that could impact its trajectory. One of the primary concerns is the increasing regulatory scrutiny related to environmental issues, particularly surrounding VOC emissions and the safety of chemical ingredients used in pigment formulations. Stricter regulations can lead to increased compliance costs for manufacturers, forcing them to adapt their processes and formulations, which may result in reduced profit margins. Additionally, the fluctuating prices of raw materials, influenced by market dynamics and supply chain disruptions, pose challenges to the stability of production costs, potentially affecting pricing strategies and overall market competitiveness.

Moreover, the pigment dispersion market is also susceptible to intense competition and market saturation. With numerous players vying for market share, there is a constant pressure to innovate and differentiate products. This competitive landscape may lead to pricing wars and a race to the bottom, ultimately impacting the profitability of companies within the sector. Additionally, emerging technologies and alternative products could disrupt traditional pigment dispersion methods, forcing established companies to adapt quickly or risk losing market relevance. The need for ongoing innovation, compliance with regulations, and strategic positioning is crucial for companies to navigate these threats effectively.

Competitor Outlook

• BASF SE
• Clariant AG
• Cabot Corporation
• Sun Chemical Corporation
• Ferro Corporation
• DIC Corporation
• PPG Industries, Inc.
• Huntsman Corporation
• Eastman Chemical Company
• Shepherd Color Company
• Innova Color Corporation
• KolorJet Chemicals Pvt. Ltd.
• Valspar Corporation
• Toyo Ink SC Holdings Co., Ltd.
• Atul Ltd.

The competitive landscape of the pigment dispersion market is characterized by a mix of established multinational corporations and emerging regional players. These companies engage in various strategies, including product innovation, mergers and acquisitions, and strategic partnerships, to enhance their market presence and cater to the diverse needs of their customers. Major players are increasingly focusing on sustainable practices and eco-friendly product offerings to align with the global trend towards environmentally responsible production. As a result, many companies are investing in research and development to create advanced pigment formulations that meet stringent regulatory standards while delivering high performance and durability.

BASF SE is a leading player in the pigment dispersion market, known for its extensive portfolio of innovative products across various applications. The company's commitment to sustainability and eco-friendliness is evident in its range of water-based and bio-based pigment dispersions that cater to diverse customer needs. Meanwhile, Clariant AG has positioned itself as a pioneer in specialty pigments, focusing on unique formulations that address specific market demands, particularly in the cosmetics and textile industries. Their commitment to innovation and sustainability has solidified their reputation as a key competitor in this space.

Cabot Corporation, with its expertise in high-performance pigments, continues to innovate by developing advanced formulations that enhance the durability and aesthetic appeal of various products. The company also emphasizes environmentally sustainable practices, ensuring compliance with global regulations while maintaining product quality. Furthermore, Sun Chemical Corporation remains a dominant player in the printing inks segment, leveraging its extensive distribution network and technological advancements to provide high-quality pigment dispersions to customers worldwide. As competition intensifies, these companies are likely to continue evolving their strategies to maintain their competitive edge in the dynamic pigment dispersion market.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 BASF SE
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Atul Ltd.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Clariant AG
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 DIC Corporation
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Cabot Corporation
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Ferro Corporation
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Valspar Corporation
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Huntsman Corporation
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 PPG Industries, Inc.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Shepherd Color Company
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Eastman Chemical Company
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Innova Color Corporation
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Sun Chemical Corporation
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 KolorJet Chemicals Pvt. Ltd.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Toyo Ink SC Holdings Co., Ltd.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Pigment Dispersion Market, By Application
    • 6.1.1 Paints & Coatings
    • 6.1.2 Printing Inks
    • 6.1.3 Plastics
    • 6.1.4 Textiles
    • 6.1.5 Cosmetics
  • 6.2 Pigment Dispersion Market, By Product Type
    • 6.2.1 Organic Pigment Dispersion
    • 6.2.2 Inorganic Pigment Dispersion
    • 6.2.3 Specialty Pigment Dispersion
    • 6.2.4 High Performance Pigment Dispersion
    • 6.2.5 Fluorescent Pigment Dispersion
  • 6.3 Pigment Dispersion Market, By Ingredient Type
    • 6.3.1 Water-based Pigment Dispersion
    • 6.3.2 Solvent-based Pigment Dispersion
    • 6.3.3 UV-curable Pigment Dispersion
    • 6.3.4 High Solid Pigment Dispersion
    • 6.3.5 Powder Pigment Dispersion
  • 6.4 Pigment Dispersion Market, By Distribution Channel
    • 6.4.1 Direct Sales
    • 6.4.2 Distributors
    • 6.4.3 Online Retail

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Pigment Dispersion Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Pigment Dispersion market is categorized based on

By Product Type

• Organic Pigment Dispersion
• Inorganic Pigment Dispersion
• Specialty Pigment Dispersion
• High Performance Pigment Dispersion
• Fluorescent Pigment Dispersion

By Application

• Paints & Coatings
• Printing Inks
• Plastics
• Textiles
• Cosmetics

By Distribution Channel

• Direct Sales
• Distributors
• Online Retail

By Ingredient Type

• Water-based Pigment Dispersion
• Solvent-based Pigment Dispersion
• UV-curable Pigment Dispersion
• High Solid Pigment Dispersion
• Powder Pigment Dispersion

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• BASF SE
• Clariant AG
• Cabot Corporation
• Sun Chemical Corporation
• Ferro Corporation
• DIC Corporation
• PPG Industries, Inc.
• Huntsman Corporation
• Eastman Chemical Company
• Shepherd Color Company
• Innova Color Corporation
• KolorJet Chemicals Pvt. Ltd.
• Valspar Corporation
• Toyo Ink SC Holdings Co., Ltd.
• Atul Ltd.