The Global Organic Pigments Market is expected to grow from USD 5.23 Bn in 2020 to USD 7.25 Bn by 2027, at a CAGR of 4.2%.
The global organic pigments market is driven by the increasing demand for printing inks from the packaging sector. The plastic packaging sector uses printing inks manufactured from organic pigments to print information on the packaging. Therefore, the use of printing inks is anticipated to drive the market growth in the near future. For instance, the global printing ink consumption is estimated to reach more than 3.5 million tonnes by 2022.
Additionally, the growing demand for paints across the globe, especially in Germany is expected to drive the market growth during the forecast period. For instance, most of the automotive coatings are manufactured using organic pigments. According to automotive news Europe, in 2019, the German market accounted for 3.6 million sales of cars. Moreover, the use of phthalocyanine pigments in manufacturing dyes for electronic, optical materials is anticipated to drive the market growth during the forecast period. Phthalocyanines are widely used as blue and green colorants. The average global production for phthalocyanines is more than 80,000 tonnes per year.
Based on application, the market has been segmented into paints, plastics, printing inks, rubber, and others. The printing inks segment is anticipated to hold the largest market share during the forecast period. For instance, especially in South Africa, there are around 2,000 commercial printing enterprises in the country, which contributes significantly to the economy and generates job opportunities. In this printing sector the majority of these are small, medium, and micro-businesses in this region. Approximately 1,000 businesses offer pre-press services like design and layout, as well as post-press services such as finishing and binding. Thus, the printing ink sector’s rapid expansion is expected to drive the market growth during the forecast period.
Global Organic Pigments Market by Region Outlook (Revenue, USD Million, 2021-2027)
In terms of geography, Asia-Pacific is expected to dominate the organic pigments market during the forecast period. The growth in the region can be attributed to the growing population and increasing demand for consumer electronics & accessories such as smartwatches, earphones. For instance, China is a leading manufacturer of accessories such as smartwatches, earphones. “Crown Pigments” a leading pigment manufacturer that provides a full range of red & yellow pigments for rubber.
Moreover, Europe is anticipated to have a significant market share in the organic pigments market due to its construction growth. The increasing demand for paints in the construction industry is expected to drive the organic pigments market demand in the near future. The upcoming construction projects in the Sardinian city of Sassari is expected to drive the demand for paints. Moreover, In 2020, Italy was third largest in terms of paints and varnish consumption in the region, with a whopping demand of approximately USD 7 billion in 2020. Sun Chemical Group SpA is Italy's largest firm, which accounted for 5% of total industrial production value in 2020. Furthermore, Germany is also known for automobile production. The use of organic pigments in automobile coatings is expected to drive the market growth in this region. The German automobile production was estimated to be 4.7 million in 2019.
The Global Organic Pigments Industry Segmentation:
Global Organic Pigments Market by Type Industry Outlook (Revenue, USD Million, 2021-2027)
Global Organic Pigments Market by Source Industry Outlook (Revenue, USD Million, 2021-2027)
Global Organic Pigments Market by Application Industry Outlook (Revenue, USD Million, 2021-2027)
Key Findings:
Company Profiles and Competitive Intelligence
The key players operating in the organic pigments market are:
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