The Global Organic Pigments Market was valued at USD 5.23 Bn in 2020 and is expected to reach USD 7.35 Bn by 2027, with a growing CAGR of 4.2% during the forecast period.
Organic pigment is a molecule that changes its color of reflected or transmitted light as a result of wavelength-selective absorption. These pigments are insoluble in polymers & coating systems. Organic pigments are mainly based on carbon, hydrogen, nitrogen and they can be classified as azo pigments, polycyclic pigments, anthraquinone, and other pigments.
Increasing use of organic pigments in the automotive industry for paintings is anticipated to drive the market growth in the near future. 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. Additionally, the use of organic pigments in the plastics industry is expected to bolster the market growth throughout the forecast period. For instance, In the US, containers and packaging make up a major portion of Municipal Solid Waste (MSW), estimated to be 82.2 million tons generated in 2018. Chemical colorants are used to color plastics. Moreover, in the automotive segment, Clariant manufactures organic pigments for automotive coatings mainly known as hostaperm, and nova perm. Additionally, small particle size, high tinting strength, lightness in weight, resistance to wetting, fatness, transparency is some of the characteristics are expected to increase the demand for pigments in the near future.
The unique insights provided by this report also include the following:
Based on Type, the Azo segment held the largest market share in 2020 and is expected to grow significantly during the forecast period due to its use in yellow, orange, & red pigments
Based on type, the market has been segmented into alizarin, azo, phthalocyanine, arylide, and others. The Azo segment in organic pigments accounted for the largest market share in 2020 and is expected to grow significantly during the forecast period owing to its extensive use in the textile, fiber, cosmetic, leather, paints, and printing industries. Additionally, azo pigments are the largest group of organic pigments, they contain one or more azo chromophoric groups and form yellow, orange, and red pigments. These yellow, orange, and red pigments are used in manufacturing of cosmetics. Loreal is one of the global leading cosmetics providers, as they can utilize azo for their color processing of products. For example. In 2021, L’Oreal’s profitability in the fourth quarter, and reached 18.6%, compared to 3rd quarter estimated to be 27.99 billion euros sales (32.54 USD Bn).
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, in which over 90% are colorants.
Based on the source, the synthetic segment in the organic pigments market held the largest market share in 2020 and is expected to grow at the highest CAGR during the forecast period due to the various characteristics offered by synthetics in terms of brightness, and purity
Based on the source, the global organic pigments market has been segmented into natural, and synthetic. The synthetic segment in the organic pigments market share held the largest numbers in 2020 and is expected to grow at the highest CAGR during the forecast period. The growth in the segment is attributed to the various characteristics of synthetic organic pigments such as brightness, small particle size, high tinting strength, lightness in weight, resistance to wetting, fatness, transparency. Moreover, the rising preference for synthetic as a source can also be attributed to its low-cost, especially in the electronics industry.
Based on region, the Asia Pacific held the largest market share during the forecast period owing to the faster adoption of consumer electronics
Based on region, the global organic pigments market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific held the largest market share in the organic pigments market owing to increasing demand for LED Displays from the consumer electronics sector. For instance, Asia Pacific generated the highest quantity of e-waste in 2019 at 24.9 Mt, followed by the Americas (13.1 Mt) and Europe (12 Mt). Moreover, the increasing demand for automobiles in this region is anticipated to drive the market growth in the near future. For instance, China was the largest automotive manufacturer in 2020 reaching a mark of 19,994 passenger car productions followed by Japan & South Korea. Thus, the increase in sales of passenger cars is anticipated to drive the organic pigments market growth in this region.
The report also provides an in-depth analysis of Organic Pigments market dynamics such as drivers, restraints, opportunities, and challenges
The COVID-19 pandemic had brought a drastic change in the supply chain of paints, and the organic pigments market . The organic pigments sector is in a position to expect gradual recovery. The Covid-19 impact was not uniform on the cosmetics, inks & textiles sector. For instance, in Lockdowns, consumers spent time at home consuming the cosmetics, while automotive coating demand registered a massive fall. The manufacturing processes are currently going through an immediate start as governments across the globe ease restrictions. The demand for cosmetics, textiles is expected to dominate the market over the coming years. Moreover, the adoption of mergers & acquisitions of players to reduce the capital costs is a new strategy to sustain in the post-pandemic era.
Note: A detailed analysis is specific to the Organic Pigments market will be provided in the report
The report also provides an in-depth analysis of key trends in the organic pigments market
The report also provides an in-depth analysis of recent news developments and investments
The key players operating in the Organic Pigments market are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.