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According to MRFR analysis, the global Organic Pigments Market is expected to register a CAGR of 23.47%from 2023 to 2030 and hold a value of over USD 66.20 Billion by 2030.
Organic pigments are raised to synthetically-made carbon compounds. Natural pigments are removed through animals and flowers, whereas synthetic organic pigments are extracted through petroleum compounds. They come in a range of deep colors, including rose, deep red carmine, and crimson. They are generally stronger, brighter, and more transparent than inorganic pigments, although not as light-resistant. They grasp the potential to be partially soluble in several thermoplastics. The rolling demand for organic pigments in recent years can be attributed to the rising consumer preference for environment-friendly products. Further, the product is witnessing heightened demand from niche applications, such as the production of packaging and advertising brochures and catalogs, which is projected to result in the strategic growth of the organic pigments market over the estimated period.
The impact of covid 19 is substantial in many industries. Revenue losses and decay in demand are common challenges in many markets. This pandemic is instigating pressures from the economic and health end of the market. Economic decline is causing cash flow deficiency and other challenges in global markets. The organic pigment market is affected by this condition.
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Regional Analysis
The organic pigments market is classified into Asia Pacific, Europe, and North America. The Asia Pacific is the leading region with high market shares. The manufacturing of organic pigments is massive in this region. The commercial packaging sector has a high essential for organic pigments. India and China have high furniture activity that increases demand.
Asia Pacific is 51% of the world’s plastic producers. It is generating a positive impact on the overall organic pigments market. North America is the next largest region with huge demand. Europe is the next regional player with a high possibility for organic pigments.
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Market Segmentation
The global Organic Pigments Market has been segmented into product type and application.
Based on Type, the global organic pigments market is segmented into Azo Pigments, Phthalocyanine Pigments, HPPs, and Others. Azo Pigments has the largest segment of global organic pigments during the estimated period. Azo pigments are projected to continue to be the most essential business segment for organic pigment manufacturers. The increasing use of azo pigments in printing inks and coatings is projected to generate substantial benefits for azo pigment producers.
Based on Application, the global organic pigments market is segmented into Printing Inks, Paints and Coatings, Plastics, and Others. Paints and Coatings have been the fastest-growing segment of the global organic pigment market during the estimated period. Organic pigments are normally known as end-products because of properties such as good weather-fastness, limited migration, solvent, and losing blood fastness.
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Key Players
Some of the key market players are Dainichiseika Color & Chemicals Mfg. Co. Ltd, BASF, Synthesia, Trust Chem Co Ltd, Sudarshan Chemical Industries Limited, DIC Corporation, Toyocolor Co Ltd, Changzhou Longyu Pigment Chemical Co. Ltd, Ferro Corporation
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