In recent years the global pigment market has become highly consolidated with majority of the market share controlled by only a handful of players. The market is largely dominated by inorganic pigments. Inorganic pigment market is further dominated by Titanium Dioxide (TiO2) pigment. Inorganic pigments based on metals like mercury, cadmium and lead have witnessed decrease in their use as they have toxic effect on human health and are being gradually replaced with pigments having better properties and are safe for humans as well as the environment.