A remarkable growth in the consumption of organic pigments in paints & coating and plastic industries has propelled the demand for organic pigments. Projecting the market growth at a modest CAGR of 3.3%, a new market study by Fact.MR provides an inclusive analysis of the organic pigments market. Predominant factors attributing to this sprouting demand include manufacturers shifting away from heavy, metal-based, inorganic pigments in their applications.
Organic Pigments Market – Key Takeaways
- Azo based pigments remain the sought-after, with a share of 50% in market value.
- Applications in printing inks are projected to account for about half of total usage, owing to significant use of organic pigments in visual effects and other applications.
- Market share of high-performance pigments (HPP) to grow by 1.4X owing to growing inclination toward expensive pigments.
- Market in East Asia, South Asia, and Oceania is witnessing remarkable growth, accounting for a collective revenue share of 40% in global market.
- North America accounts for nearly 1/5th of global value, owing to demand from the printing inks and plastic industries.
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Organic Pigments Market – Key Driving Factors
- The surge in demand from automotive and construction industries of developing economies is presenting growth opportunities for manufacturers.
- Organic pigments are finding applications in niche end-use segments such as the production of advertising and packaging leaflets, owing to their ability to provide a bright and intense display of colors.
- Manufacturers in end-use segments are opting for organic pigments as a befitting alternative to artificial pigments due to environmental factors, thereby further propelling the demand.
Organic Pigments Market – Key Restraints
- The higher production cost and lower production quantity of organic pigments are likely to limit its applications in certain end-uses, thus impacting the growth of the overall market.
Competition Landscape
Some of the key players in the organic pigments market are BASF SE, Clariant AG, DIC Corporation, and Heubach GmbH among others. The market players are cashing on the shift away from inorganic pigments, and hence are investing in developing a wide range of high-performance environmentally-friendly alternatives.
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About the Report
This 170-page study offers readers a comprehensive market forecast of the global organic pigments market, with historical data on demand (2013-2018) and expected projections for the period (2019-2027). The report discloses compelling insights into the demand for organic pigments on the type (Azo Pigments, Phthalocyanine Pigments, and High-Performance Pigments), application (Printing Inks, Paints & Coatings, Plastics & Rubber, and Others (Textile, Paper, Leather, etc.) across several major regions.
Press Release: https://www.factmr.com/media-release/1361/global-organic-pigments-market
