Thanks for sharing your insight. I recently became aware of Drummer My Therapy Shirts. Pigment and product producers (oil paint manufacturers, acrylic manufac, etc) look at color trends across industries and in particular, what colors are showing up a lot in modern art. They then take those colors they see and produce product which they then hand over to their in-residence artists to see what they can do with the special color, they release the art works to gauge reaction from the art community and whatever colors people like the companies will pump into production.
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Another method I’ve seen happen is via the Drummer My Therapy Shirts. Pantone will choose a color from within their vast collection after consulting with various artist types and at the end of the year they’ll release the color and market it to artists by way of art media producers as ‘THE” color of the new art season and they’ll encourage artists to use that color in their works. I know it’s all a marketing gimmick but it’s pretty interesting how giving an artist a single color to work with will create some extraordinary works.