Organic Pigments Market is projected to be worth USD 9 Billion by 2030, registering a CAGR of 8% during the forecast period (2022 - 2030). The market was valued at USD 4 billion in 2021.
The growing use of the drug in the paint & coatings, plastics and textile industries is poised to fuel the growth of the global Organic Pigments Market over the projected period. Chemical pigments are commonly used in the plastics and clothing industry as dyes. Thanks to the large-scale use of plastics in packaging applications the plastics industry is growing rapidly. That is likely to raise demand for organic pigments and drive the growth of the global market in the years to come. In addition , the growing demand for organic pigments in the manufacture of printing inks is projected to be a major driver of global market growth. The consistency of organic pigments in various unique colors makes them more attractive to use in the decorative arts. Increasing use of organic pigments in various hi-tech applications, such as opto-electronic screens, photo-reprographics and optical data storage, is expected to create major growth opportunities over the estimated time frame. Nonetheless, rising raw material costs and the higher organic pigment costs than inorganic pigments are expected factors that hamper global demand development. Nonetheless, expanding the reach of use of organic pigments in the electronics field is likely to generate lucrative opportunities for market players in the years ahead.
The global organic pigments market has been classified based on source, type, application, and region.
on the basis of source, the global organic pigments market has been distributed into natural and synthetic.
By type, the global organic pigments market has been segmented into azo, phthalocyanine, alizarin, arylide, and others.
Printing ink, paints, plastics, rubber, optoelectronics, cosmetics, and paper tinting are the major application segments of the global organic pigments market.
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The five main regions analyzed for the global organic pigment industry are Asia-Pacific, North America , Europe, Latin America and the Middle East & Africa.
Asia-Pacific led the 2018 global organic pigment market due to rising demand for organic pigments in the plastics, paints & coating and textile industries. The organic pigment market is expected to show the fastest growth in Asia-Pacific owing to an increase in the number of textile industries. Organic pigments are cost-effective, non-toxic and have high color strength , making them a good alternative for use in different end-use industries. In addition , the rapid growth of the packaging industry, combined with the growing use of organic pigments in food and industrial packaging applications, is expected to further drive regional demand growth. The main economies leading to asian demand development are projected to be India , China, Japan , Malaysia and South Korea.
Middle East & Africa, and Latin America are the other major rising global markets for organic pigments. The growing demand for the drug is projected to fuel regional market development in the paint and printing ink applications. While the demand for organic pigments has achieved saturation in North America and Europe, the industry is expected to receive a boost as major companies seek to produce and grow products in line with ever-changing technical requirements.
Some of the eminent players operating in the global organic pigments market are BASF SE (Germany), Heubach GmbH (Germany), Synthesia AS (Czech Republic), Clariant (Switzerland), Trust Chem Co. Ltd (China), DIC Corporation (Japan), Ferro Corporation (US), Toyocolor Co. Ltd (Japan), Changzhou Longyu Pigment Chemical Co. Ltd (China), Sudarshan Chemical Industries Limited (India), and Dainichiseika Color & Chemicals Mfg. Co. Ltd (Japan).
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