Market Analysis & Forecasts
Organic pigments market size worth $8.4 billion by 2031
Allied Market Research published a report, "Organic Pigments Market by Type (Azo Pigments, Phthalocyanine Pigments, High Performance Pigments (HPPs), Alizarin, Arylide, Others), by End Use Industry (Paints and Coatings, Automotive, Plastics, Printing Inks, Packaging, Textile, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global organic pigments market is projected to garner a revenue of $8.4 billion by 2031. The market was valued at $5.6 billion in 2021 and will grow at a CAGR of 4.2% during the 2022-2031 period. The report offers a detailed analysis of the latest market trends, regional scenario, and the competitive landscape of the industry.
Prime Growth Determinants
The growth of the global organic pigments market is on account of surge in demand for organic pigments from the pharmaceuticals and plastic packaging industries. Moreover, increasing adoption of bio-based paints & coatings and high-performance pigments will further boost the market. On the other hand, the high cost of organic pigments might create hurdles in the full-fledged growth of the market. Nonetheless, the huge demand for organic pigments from the global construction industry might open up new growth opportunities in the market.
The high performance pigments (HPPs) segment to be the most profitable by 2031
By type, the high performance pigments segment held the highest market share in 2021. Furthermore, the same segment is estimated to grow with the highest CAGR of 4.7% during the forecast period. The huge applicability of high-performance pigments in the automotive manufacturing industry and cosmetics industry will help the market to gain a lead in the coming period.
The printing inks segment to grow rapidly by 2031
By end use industry, the printing inks segment held the largest market share in 2021 owing to the massive use of printing inks in flexographic and intaglio printing, screen printing, etc. On the other hand, the paints and coatings segment is likely to demonstrate a CAGR of 4.7% in the analysis timeframe. Escalating demand for paints and coatings from the automotive and construction industry is anticipated to augment the growth rate of the market in the near future.
Asia-Pacific to provide lucrative opportunities by 2031
By region, the Asia-Pacific organic pigments market gathered the highest revenue in 2021 and is projected to showcase the highest CAGR of 4.6% during the analysis timeframe. Extensive demand for organic pigments from different end-use industries including automotive manufacturing, packaging, and construction will strengthen the position of the market.
Major Companies in the Industry:
• BASF SE
• Synthesia A.S.
• Sudarshan Chemical Industries Limited
• TOYOCOLOR CO., LTD
• DIC Corporation
• Sun Chemical
• Trust Chem Co. Ltd.
• Ferro Corporation
Strategic alliances such as mergers, acquisitions, collaborations, partnerships, etc., that have been formed by these companies have also been extensively covered in this report. Furthermore, product launches by leading companies have been analyzed in detail.