Azo Pigments to Remain Top Choice for Organic Pigment, Demand Set to Increase at 4% CAGR through 2031: Fact.MR

Organic Pigments Sales in China will exceed US$ 1.5 Bn by 2031

Fact.MR offers exclusive insights into organic pigments market in its latest study. The report presents in-depth analysis of segments in terms of type and application. It also profiles some of the leading market players and gauges the impact of their growth strategies.

NEW YORK, Aug. 26, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: As per the latest insights by Fact.MR, the global market for organic pigments is estimated to expand by 1.5X, totaling US$ 1.6 Bn by the end of 2031 in comparison to US$ 4 Bn registered in 2020.

Rapid urbanization, coupled with rise in construction spending, is likely to push the demand for paints and coatings. This in turn will create lucrative opportunities for organic pigments market growth. As per Fact.MR, the demand for organic pigments is anticipated to grow at a CAGR of 5% over the forecast period 2021-2031.

The ability of organic pigments to offer high color strength has resulted in their extensive application across various industries. The market will continue exhibiting steady growth, especially on account of increasing demand for decorative coatings from automotive and construction industries.

Increasing scope for application in plastic industry due to their opacity and stability will spur sales prospects in the organic pigments market. Among various types, Azo pigments are gaining significant traction.

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The demand in the segment is forecast to accelerate at a CAGR of 4% over the assessment period. FMI also has projected that extensive adoption of azo pigments in printing inks and coatings will create remunerative growth prospects for the market in the coming years.

With rise in demand for cosmetics and other personal care products, organic pigments sales are poised to accelerate over the upcoming years. Besides this, increasing usage of organic pigments as colorants in textile and plastic industries will continue propelling the market growth.

Growth prospects are likely to remain optimistic for the U.S. market, driven by presence of leading manufacturers, increasing investment in research and development activities, and implementation of stringent regulations pertaining to the use of metallic pigments in applications related to food contact materials. As per Fact.MR, the U.S. market totaled US$ 1 Bn in 2020.

"Increasing application of organic pigments across various industries including paints and coatings, construction, and automotive among others is projected to drive sales in the market. Rising emphasis on research and development activities will offer opportunities for market growth," says a Fact.MR analyst.

Key Takeaways from Organic Pigments Market Study       

• Asia Pacific is estimated to emerge as a highly lucrative pocket, accounting for over 50% of global market share.
• The U.S. market for organic pigments totaled US$ 1Bn in 2020 and is forecast to expand at a moderate pace over the upcoming years.
• Driven by growing construction activities, China market for organic pigments is estimated to surpass a valuation of US$ 1.5 Bn by the end of 2031.
• Based on type, the demand for azo pigments is anticipated to grow at a CAGR of 4% over the forecast period 2021-2031.
• Based on application, the organic pigments for paints & coatings is expected to be the fastest-growing segment over the assessment period

Key Drivers

• Increasing use of organic pigments as colorants in textile and plastic industries is propelling the market growth.
• Rapid urbanization coupled with increasing construction spending is significantly contributing to the market growth.
• Key Restraints
• High cost associated with organic pigments is forecast to hamper sales.

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Competitive Landscape

Organic pigments manufacturers are focusing on expanding their portfolio. Therefore undertaking various organic and inorganic strategies to gain a competitive edge in the market.

For instance, in 2019, DIC Corporation announced the acquisition of BASF's global pigments business known as BASF Colors & Effects (BCE).This acquisition integrates complementary resources and competency of both the leaders in regulatory leadership, innovation, application support and manufacturing.

In 2019, Clariant announced the launch of new colourful pigments for biodegradable plastics. Clariant's novel colorant launch aims to boost the marketability of biodegradable plastics for producers of packaging and consumer goods.

Some of the prominent market players operating in the organic pigments market profiled by Fact.MR are:

• BASF SE
• Clariant AG
• Dominion Colour Corporation
• Ferro Corporation
• Heubach GmbH
• Sudarshan Chemical Industries Ltd.
• Sun Chemical Corporation
• DIC Corporation
• Pidilite Industries Ltd.
• Synthesia
• Toyocolor Co. Ltd.
• Sensient Technologies Corporation
• Trust Chem Co. Ltd.
• LANXESS AG

More Valuable Insights on Organic Pigments Market

Fact.MR, in its new report, offers an unbiased analysis of the global organic pigments market, analyzing forecast statistics through 2019 and beyond. The survey reveals growth projections on in organic pigments market with detailed segmentation:

• Type
• Azo Pigments
• Phthalocyanine Pigments
• High-Performance Pigments
• Application
• Organic Pigments for Printing Inks
• Organic Pigments for Paints & Coatings
• Organic Pigments for Textiles
• Organic Pigments for Decorative Coatings
• Organic Pigments for Plastics & Rubber

Key Questions Covered in the Organic Pigments Market Report 

• The market survey also highlights projected sales growth for organic pigments market between 2021 and 2031
• The report offers insight into organic pigments demand outlook for forecast period 2021-2031
• Organic pigments market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
• Organic pigments market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

Explore Fact.MR's Coverage on the Chemical & Materials Domain –

Pigments and Dyes Market- Increased demand from key application industries such as textiles, construction, paints & coatings, and plastics has fueled the expansion of pigments and dyes during the last few years. Several firms are embracing lightweight and flexible alternatives, most notably paper and paperboard, in the worldwide packaging business, which is undergoing credible developments. As a result, specialty pigments are being used more frequently in paper processing, which is driving up demand for pigments and dyes. The worldwide textile sector is undergoing substantial changes, and it is likely to exceed the billion-dollar mark in the future.

Coating Pigments Market- The demand for and sales of pigments in the coatings sector have exploded in recent years, owing to end-users' need for environmentally safe, cost-effective, and long-lasting solutions. While high raw material costs and limited availability continue to be major difficulties for manufacturers, there are several opportunities for inventive enterprises to provide long-lasting solutions with a wide range of functionality. Myriad pigments have been introduced to the market to meet the diverse needs of coatings makers, ranging from extenders/fillers and titanium dioxide (TiO2) to color pigments and anti-corrosive, metallic, and pearlescent properties.

White Pigment Market- The white pigment has a varied range of applications in paints & coatings, plastics automotive & others. The need for high-performance white pigment for automotive applications has been increasing over the world, particularly in China and India. White remains the leading color in the automobile sector due to increased manufacturing of electric vehicles, resulting in higher use of white pigment in the industry. Consumer preference for black and white hues, particularly the white color trend, is likely to fuel demand for white pigment and positively impact global market growth.

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