Organic Pigments Market Overview:
According to the latest research report published by DataM Intelligence, the Global Organic Pigments Market was valued at around US$ 5,610.12 million in 2022 and is projected to reach US$ 8,412.56 million by 2030. The market is expected to exhibit a CAGR of 4.6% during the forecast period (2023-2030).
The organic pigment-colored substance is generated from a plant with pigment properties. It is a family of insoluble organic compounds with high coloring strength and attributes such as resistance to sunshine and flooding, acid and alkali resistance, organic solvent resistance, heat resistance, and good dispersion. They are used to manufacture ink, paint, polymers, and rubber. It is used as a filler and reinforcing agent in various applications, including coloring agents for plastics and synthetic fibers, as well as in the rubber industry.
Because of favorable regulatory regimes, the need for durable, temperature-resistant, highly concentrated pigments has increased in industries such as cosmetics, textiles, pharmaceuticals, and polymers. The market is expanding as more high-performance pigments are employed in various end-use industries worldwide. Furthermore, growing income levels and population expansion will boost the market growth for high-performance pigments.
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Organic Pigments Market Drivers:
Increasing Demand for Organic Pigments from End-use Industries
The growing demand for organic pigments from end-use sectors such as coatings, plastics, printing inks, and textiles drives the global organic pigments market growth. Organic pigments are frequently utilized in various sectors to give color, improve aesthetics, and improve final product performance. Organic pigments are widely used in the coatings industry. Organic pigments are employed in various coating applications, including architectural, automotive, and industrial coatings. These coatings protect surfaces from corrosion, weathering, and wear while improving their look.
Top Trends in the Global Organic Pigments Market
The development of novel pigments with higher performance, as well as the development of new techniques for their synthesis, are essential trends in organic pigment technology.
The requirement for pigments with higher lightfastness, heat stability, and chemical resistance drives the creation of new pigments with improved performance. The desire for less expensive pigments to create and have fewer environmental implications is driving the development of novel technologies for synthesizing organic pigments.
Creating new pigments with better lightfastness is one of the most critical trends in organic pigment technology. Lightfastness is a measure of a pigment’s resistance to fade when exposed to light. The demand for pigments that can be utilized in areas where light exposure is a problem, such as outdoor applications, drives the development of novel pigments with better lightfastness.
Organic Pigments Market Restraints:
Raw Material Price Volatility
Raw material price volatility is a major issue that might limit the growth of the global organic pigment market. Organic pigments are made from various basic materials, including petrochemicals, intermediates, and specialized compounds. The prices of different raw ingredients might fluctuate, affecting the production costs of organic pigments. Raw material price fluctuations can make it difficult for manufacturers to anticipate costs and pricing, influencing profitability precisely.
Asia-Pacific currently dominates the global organic pigments market, accounting for the largest market share in terms of production and consumption. Several reasons contribute to the region’s market domination, including a large population, fast industrialization, and rising demand for organic pigments in various end-use sectors.
Covid-19 Impact on Global Organic Pigments Market
The COVID-19 pandemic has had a mixed impact on the global organic pigments market. On one hand, the global demand for organic pigments decreased due to the shutdown of manufacturing and construction industries in many countries, leading to a decline in demand for paints, coatings, and other industrial products that use organic pigments as a coloring agent. This has resulted in lower production levels and revenue for many organic pigment manufacturers.
The global organic pigments market can be segmented by type, application, source, and region. By type into azo pigments, phthalocyanine pigments, high-performance pigments (HPPs), and others; by application into heavy duty vehicles, paints & coatings, plastics, and others (textiles, cosmetics, food); by source into natural organic pigments and, synthetic organic pigments; and by region into North America, Europe, South America, Asia-Pacific, Middle East, And Africa.
Synthetic Organic Pigments Segment Dominates the Worldwide Market Due to Their Vast Range of End-Use Applications
Synthetic pigments are widely used in various sectors, including paints & coatings, polymers, printing inks, textiles, and others. Synthetic pigments accounted for a market share of roughly 60% in 2020. Several reasons, including greater performance, cost-effectiveness, and adaptability, have contributed to the expansion of the synthetic pigment industry. Furthermore, increased demand for high-performance pigments (HPPs) is expected to boost market expansion in the upcoming years.
Key players in the global organic pigments market include BASF SE, Clariant AG, Dominion Colour Corporation, Ferro Corporation, Heubach GmbH, Lansco Colors, Sudarshan Chemical Industries Ltd., Sun Chemical Corporation, and Synthesia.
• The Heubach Group will launch its new Ultrazur product line at PlastIndia 2023 on January 24, 2023: a range of ultramarine blue pigments in four shades ranging from greenish to reddish for a variety of conventional and demanding applications. The Heubach Group is a global leader in inorganic and organic pigments and complete color solutions.
• DayGlo Colour Corp, Ohio, released rice protein-based fluorescent pigments for cosmetics on March 21, 2023.
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Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 1 year.
2) Any query with regard to the scope offered will be addressed within 24- 48 hours.
3) An Excel sheet with market numbers will be provided separately.
The Full Report has the below insights:
• The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
• Visualize the composition of the global organic pigments market segmentation by type, application, source and, region highlighting the key commercial assets and players.
By Type: Azo Pigments, Phthalocyanine Pigments, High Performance Pigments (HPPs), Others.
By Application: Heavy Duty Vehicles, Paints & Coatings, Plastics, Others (Textiles, Cosmetics, Food)
By Source: Natural Organic Pigments, Synthetic Organic Pigments.
By Region: North America, Europe, South America, Asia-Pacific, Middle East and Africa.
• Identify commercial opportunities in the global organic pigments market by analyzing trends and co-development deals.
• The report also covers data insights on various industry forces such as Porter’s five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
• Excel data sheet with thousands of data points of global organic pigments market -level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in Excel for the key product of all major market players
• The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.
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