Organic Pigments Market to Grow 1.3X, Plastics to Generate New Revenue Streams, Finds Fact.MR
Published : 06 Mar 2020 Industry: Chemical & Materials
Estimated to reach a value pool of near US$ 4.5 Bn by the end of the forecast period (2019-2027), the organic pigments market is trending towards high-performance pigments in paints & coatings and plastic industries. The shift from heavy, metal-based, inorganic pigments will continue to benefit organic pigments market growth. These pigments have a better environmental profile than inorganic pigments and have more vivid colors particularly in printing inks. Continuous advances in the organic pigments market are expected to be powered by an increasing need for enhanced aesthetics in product packaging for better marketing. As a result, production of advertising and packaging leaflets will propel demand growth of organic pigments in the near future. A surge in construction spending with escalating demand for decorative coatings in the construction sector will positively affect the growth of organic pigments market.
Key Takeaways of Organic Pigments Market Study
- China is the leading producer of organic pigments and remains the global supplier of red and yellow, azo-based pigments. The country is expected to witness modest growth of over 4% CAGR in the long term forecast
- Japan continues on a downward trend as the market has become globalized and gross margins have been squeezed, leading to plant shutdowns and restructuring
- Overall growth of North America and Europe is expected to be near 2% per year owing to high competition from electronic media and devices
- Globally, printing inks account for about half of the total demand on a volume basis and are anticipated to record significant growth boosted by the greater use of organic pigments in visual effects and others applications
- Azo based pigments account for nearly 50% demand share in the global market and are anticipated to grow at a CAGR of 2.2%
- The trend toward more expensive pigments escalates the growth of high performance pigments by 1.4x, HPPs segment is poised to retain higher profit margin while azo and phthalocyanine pigment characterize a lower margin
“Growing demand for new colors and visual effects create opportunities in plastic and paints & coating industry. Increasing use of HPPs are shifting demand from heavy, metal-based pigments to organic pigments” says the Fact.MR analyst
High Performance Pigments to Give Stakeholders a Competitive Edge
Global organic pigments market is moderately consolidated in nature with key players such as BASF SE, Clariant AG, DIC Corporation, Heubach GmbH and others. Manufacturers are actively developing a wide range of high performance environmentally friendly alternative owing to a shift from heavy, metal-based pigments. Recently Sun Chemical has also introduced high-performance pigments for heavy metal replacement, including both Fanchon Yellow 184 (bismuth vanadate) and Yellow 138 for green shade yellows.
Find More Valuable Insights on the Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for organic pigments, 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 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.
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About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs across the value chain. With an exhaustive database of over 1,000 reports and 1 million plus data points, the team has analyzed a number of chemicals and materials lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.