Organic Pigments Revenue is Expected to Grow at a Valuation US$ 6.5 Billion in 2033; Azo Pigments Stimulates Industry Growth: Fact.MR

Rockville, April 10, 2023 (GLOBE NEWSWIRE) -- By 2033, the market for organic pigments will have grown from US$ 4.3 billion to US$ 6.5 billion, increasing at 4.0% CAGR from 2023 to 2033.

Natural pigments are popular because they may be used in a number of applications, are environmentally friendly, and are sustainable. Nevertheless, chronic exposure to these poses no risks to human health.

As customers grow more ecologically conscious, there will be an increase in the demand for high-performance organic pigments. Due to their capacity to produce vibrant colours that may be deliberately targeted to assure growth, organic pigments are often employed in specialised applications including the creation of packaging and advertising leaflets as well as catalogues.

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There are several drivers for the organic pigments market, including:

• Organic pigments are widely used in various industries, such as paints and coatings, plastics, printing inks, and textiles. The growth of these industries is driving the demand for organic pigments.
• These pigments are friendly and non-toxic, making them an attractive choice for consumers who are increasingly concerned about the impact of products on the environment. This is driving the demand for organic pigments in various applications.
• The development of new and improved manufacturing processes for organic pigments is leading to better quality and more cost-effective products. This is making organic pigments more accessible to a wider range of industries and applications.
• The emerging economies in Asia, Latin America, and the Middle East are witnessing rapid industrialization and urbanization. This is driving the demand for organic pigments, as they are widely used in the construction, automotive, and packaging industries.
• Organic pigments are widely used in medical devices and pharmaceuticals, as they are non-toxic and stable under various conditions. The growing demand for healthcare products is driving the demand for organic pigments in this industry.
  

Restraints:

• The cost of raw materials used in the production of organic pigments, such as petrochemicals, can be volatile. This can affect the pricing of organic pigments, making them less attractive to buyers.
• The use of organic pigments in various applications is subject to stringent regulations, particularly with regards to environmental and health concerns. This can increase the cost of production and limit the use of certain types of organic pigments.
• In some applications, alternatives to organic pigments, such as inorganic pigments or dyes, may be more cost-effective or offer better performance. This can limit the demand for organic pigments in these applications.
• Organic pigments face competition from substitutes, such as synthetic and natural dyes, which can offer similar or better performance at a lower cost. This can limit the demand for organic pigments in certain applications.

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Key Market Trends:
Some of the current market trends in the organic pigments industry include:

• High-performance pigments are becoming more popular due to their ability to offer superior color strength, durability, and chemical resistance.
• Sustainability is a growing trend in the organic pigments industry, with consumers and businesses seeking more environmentally friendly and non-toxic products. This is leading to high adoption of new organic pigments that are sustainable and can be used in various applications.
• The Asia-Pacific region is witnessing rapid industrialization and urbanization, leading to an increase in demand for organic pigments in various industries, such as paints and coatings, plastics, and textiles.
• The adoption of digital printing technology is growing rapidly, and this is boosting the demand for organic pigments that can be used in digital inks. Organic pigments offer several advantages over inorganic pigments in this application, such as better lightfastness and color range.
• Research and development activities in the organic pigments industry are increasing, with companies investing in the development of new pigments and manufacturing processes. This is leading to the development of more advanced and cost-effective organic pigments.
  

Competitive Landscape:
Organic pigments market is fragmented, with many players operating in the market. The market is also characterized by frequent mergers and acquisitions as companies seek to expand their product portfolio and market reach.

• For instance, in 2021, DIC Corporation announced that it had completed the acquisition of BASF's global pigments business. The acquisition includes BASF's pigments manufacturing sites in Europe, Asia, and South America.
  

Segmentation of Organic Pigments Industry Research

• By Type:
  • Azo Pigments
  • Phthalocyanine Pigments
  • High-Performance Pigments
• By Application:
  • Printing Inks
  • Paints & Coatings
  • Textiles
  • Decorative Coatings
  • Plastics & Rubber
• By Region:
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA
    

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Key Questions Covered in the Organic Pigments Market Report

• What will be the estimated size of the Market in 2023?
• At what rate will the global Organic Pigments sales grow until 2033?
• Which are the factors hampering the Organic Pigments demand?
• Which region will spearhead the growth in the global industry during 2023-2033?
• Which are the factors driving sales in the Organic Pigments Market during the forecast period?
  

Check out more related studies published by Fact.MR Research:
Organic Dyes and Pigments Market Consumption: Worldwide consumption of organic dyes and pigments is estimated at US$ 22 Bn in 2022. As per detailed industry analysis, the global organic dyes and pigments market is forecast to reach US$ 37 Bn by 2032, progressing at a CAGR of 5.4% during 2022-2032.

Pigments Market Demand: According to this market study, Pigments Market demand is anticipated to increase at a CAGR of 5.4% over the period of 2021 to 2031, up from 12 Mn tons in 2021.

Coating Pigments Market Share: The global coating pigments market share is estimated at USD 24.5 billion in 2022 and is forecast to reach USD 41.9 billion by 2032, growing at a CAGR of 5.5% during 2022-2032.

Bio based Pigments and Dyes Market Size: The present valuation for the global bio-based pigments and dyes market size is USD 30,305 Million in the year 2022. The market is growing with a CAGR of 4.5% in the forecast duration. The bio-based pigments and dyes market is likely to exceed USD 47062.74 Million by end of 2032.

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