The Global Organic Pigments Market is estimated to be valued at
US$ 5.12 Bn in 2022 and is expected
to exhibit a CAGR of 5.4% over the forecast period 2024-2031, as
highlighted in a new report published by Coherent Market
Insights.
BURLINGAME, Calif.,
May 27, 2024 /PRNewswire/ -- The
global Organic Pigments Market is projected to grow from
USD 78.89 billion in 2024, and it is
projected to reach USD 140.56 billion
by 2031, at a CAGR of 8.6% from 2024 to 2031, as per the recent
study by Coherent Market Insights. Organic pigments find wide usage
in printing inks applied on paper, paperboard, and various plastic
substrates. Growing print media industry is thus augmenting the
market growth.
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Market Dynamics:
The global organic pigments market is witnessing high growth
owing to increasing demand from paints & coatings industry
across the globe. Organic pigments find wide application in
manufacturing paints and coatings owing to their bright colour
shades and high tinting strength. Furthermore, growing construction
industry in emerging nations of Asia
Pacific and Latin America
is further propelling the demand for paints and coatings made from
organic pigments. In addition, increasing use of organic pigments
in printing inks application is also driving the market growth
during the forecast period.
Global Organic Pigments Market Report Coverage
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 6.56 billion
|
Estimated Value by
2031
|
$ 9.48 billion
|
Growth
Rate
|
Poised to grow at a
CAGR of 5.4%
|
Historical
Data
|
2019–2023
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Type, By
Application
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Growth
Drivers
|
• Increase demand for
organic pigments in paints & coatings industry
• Rising health
concerns due to hazardous chemicals
|
Restraints &
Challenges
|
• Increase demand for
organic pigments in paints & coatings industry
• Rising health
concerns due to hazardous chemicals
|
Market Trends:
Azo pigments trend and growing use of high performance pigments:
Azo pigments have dominated the organic pigments market over the
recent years owing to their photo stability and cost effectiveness.
Furthermore, rising demand for high performance pigments from end
use industries is another major trend being witnessed in the
market. Organic high performance pigments exhibit enhanced
properties such as weather resistance, heat resistance and
lightfastness.
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Market Opportunities:
Paints and coatings accounted for over 40% share of the global
organic pigments market in 2024. Organic pigments are extensively
used in paints and coatings applications owing to their remarkable
properties such as weather resistance, lightfastness, chemical
resistance and color fastness. Rapid growth of the construction and
automotive industries across developing regions has been a major
driver for increased pigment demand from the paints and coatings
segment. Further expansion of the infrastructure and real estate
sector coupled with rising consumer spending on home décor and
refurbishments is expected to support segmental growth over the
forecast period.
The printing inks segment currently holds around 30% share of
the global organic pigments market. Organic pigments are highly
preferred over inorganic ones in printing inks due to their high
tinting strength and ability to produce brilliant colors.
Increasing demand for flexible packaging from food & beverage
and personal care industries is a key factor pushingpigment
consumption in the printing inks segment. Additionally,growth of
the publication and commercial printing industries particularly in
Asia Pacific is anticipated to
positively influence segmental growth during the forecast
period.
Key Developments:
In April 2022, The Heubach Group
launched its most recent product line, featuring cutting-edge
solutions, at the American Coatings Exhibition in Indianapolis. The company showcased its
next-generation pigments, dyes, pigment dispersions, and
specialized materials, including anti-corrosive, organic, and
inorganic pigments, during ACS 2022.
In January 2022, Heubach Group and
SK Capital Partners joined forces to acquire Clariant's Pigments
division. The baseline enterprise value of the sale, which was
disclosed at the time of the transaction signing, amounted to
USD 878.45 million, subject to
closing account adjustments and a potential earn-out payment of
USD 54.5 million.
Key Market Takeaways
The global organic pigments market is anticipated to witness a
CAGR of 5.4% during the forecast period 2024-2031, owing to rapid
industrialization and urbanization activities across emerging
economies.
On the basis of type, azo pigments segment is expected to hold a
dominant position, accounting for over 35% share due to high
brightness, weather resistance and color strength
characteristics.
On the basis of application, paints and coatings segment is
expected to hold a dominant position over the forecast period, due
to increasing construction activities in both developed and
developing regions.
Key players operating in the global organic pigments market
include BASF SE, Clariant, DIC Corporation, Ferro Corporation and
Heubach GmbH among others. These players are focusing on new
product development and capacity expansion strategies to gain a
competitive edge in the market.
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Market Segmentation
By Type Insights (Revenue, USD Bn, 2019 - 2031)
- Azo
- Pthalocyanine
- HPPs
- Others
By Application Insights (Revenue, USD Bn, 2019 -
2031)
- Printing inks
- Paints & coatings
- Plastics
- Others
By Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa
- GCC Countries
- Israel
- Rest of Middle East &
Africa
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