According to the new research report "Organic Pigments Market by Type (Azo Pigments, Phthalocyanine Pigments, HPPs), Application (Printing Inks, Paints & Coatings, Plastics), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2023", published by MarketsandMarkets™, the Organic Pigments Market size is estimated at USD 3.69 billion in 2018 and is projected to reach USD 4.67 billion by 2023, at a CAGR of 4.8% between 2018 and 2023.
Packaging plays a very important role in establishing brand value in the minds of customers. The importance of aesthetics in packaging has grown due to the need for product differentiation arising from high competition. This is one of the major reason which is driving the market for organic pigments in printing inks used in packaging. In addition, the absence of heavy metals in organic pigments is also a major driver for this market. Heavy metals are considered to be one of the most harmful substances to human health.
Azo pigments segment led the organic pigments in 2017
The azo pigments segment is projected to account for the largest share of the overall Organic Pigments Market as it is economical and is widely used in applications such as printing inks, plastics, paints & coatings, and so on. Azo pigments are available in a wide range of colors such as red, orange, and yellow for printing application, which further increases its demand.
Printing inks application expected to lead overall Organic Pigments Market during forecast period
The printing inks segment is the largest application of the Organic Pigments Market. Plastic packaging of food & beverage, consumer goods, and printing media are the major industries driving the market for organic pigments in printing inks application. In addition, stringent government regulations to use organic pigments in food contact materials also drives the market for pigments in printing inks application.
Organic Pigments Market in Asia Pacific projected to register highest CAGR during forecast period
Asia Pacific is the largest and the fastest-growing market for organic pigments due to the rising demand from packaging, automotive, and construction industries in the region. In addition to this, the increasing population in Asia Pacific countries present a significant customer base for FMCG products and food & beverages, which is expected to lead to the growth of the packaging industry. The growth in the packaging industry is also expected to drive the market for organic pigments in the region.
Key players in the Organic Pigments Market
The key players in the Organic Pigments Market are BASF SE (Germany), Clariant AG (Switzerland), DIC Corporation (Japan), Heubach GmbH (Germany), and Sudarshan Chemical Industries Ltd. (India). These companies undertake dynamic business strategies to sustain growth in the Organic Pigments Market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: firstname.lastname@example.org