Rockville, MD , Dec. 10, 2024 (GLOBE NEWSWIRE) -- The global Azo Pigment Market is estimated to reach a valuation of US$ 1.5 billion in 2024 and is projected to further expand at a CAGR of 4.3% through 2034.
The market is expanding steadily, driven by strong demand from various industries. Azo pigments, valued for their vibrant colors, are widely used in paints, coatings, textiles, plastics, and printing inks. The growing need for visually appealing and high-performance products is a major factor driving market growth. The surge in global construction activities is also increasing the use of azo pigments in architectural coatings.
Continuous advancements in pigment production processes and a focus on environmentally friendly formulations are further boosting market expansion. As industries prioritize color quality and durability, the global azo pigment market is poised for continued growth in the coming years.
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Key Takeaways from Market Study:
- The global azo pigment market is projected to expand at a CAGR of 4.3% through 2034.
- Sales of azo pigment products are calculated at US$ 1.5 billion for 2024.
- The market is forecasted to reach US$ 2.29 billion by 2034-end.
- The North American market is projected to expand at a CAGR of 4.5% through 2034.
- Azo orange is projected to account for 44.8% market share in 2024.
- East Asia is forecasted to account for 38.4% of the global market share by 2034.
“Azo pigments are extensively used in textiles, coatings, plastics, and printing inks. Rising urbanization, infrastructure spending, and consumer preference for organic products are augmenting market growth,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Azo Pigment Market:
Key players in the azo pigment market are DIC Corporation, Flint Group, Clariant International, Sun Chemical, Alliance Organics LLP, Wellton Chemical, Sincol Corporation, and Ferro Corporation.
Market Developments:
Key manufacturers of azo pigments are DIC Corporation, Flint Group, Clariant International, Sun Chemical, and Alliance Organics LLP. Companies in the industry are joining forces by merging and acquiring other companies. They are also deploying effective strategies to make their position stronger and grab a larger share of the market.
- In 2023, Unilever, P&G, Reckitt, and BASF SE joined forces in a groundbreaking cross-sector collaboration aimed at reducing greenhouse gas emissions. Known as Flue2Chem, this initiative seeks to convert industrial waste gases in the United Kingdom into sustainable chemicals for consumer goods, ultimately reducing reliance on fossil fuels.
- In 2021, DCL acquired the manufacturing facility from Sun Chemical, based in South Carolina, USA. This acquisition enables DCL to provide specialty pigment families with top-notch performance attributes, including high chromaticity, durability, heat stability, and transparency. These qualities cater to the rigorous requirements of applications in automotive production, industrial coatings, and engineered plastics.
Azo Pigment Industry News:
- Heubach Group debuted its most recent product range, which included cutting-edge solutions, at the American Coatings Exhibition in Indianapolis in 2022. At ACS 2022, the company showcased its advanced pigments, dyes, pigment dispersions, and specialty materials, such as organic, inorganic, and anti-corrosive pigments.
- Together, Heubach Group and SK Capital Partners purchased Clariant's Pigments business in 2022. Subject to closing account adjustments and a possible earn-out payment of US$55 million, the transaction's reported baseline enterprise value at the signing was over US$850 million.
- Top of Form
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global azo pigment market for 2018 to 2023 and forecast market statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (azo red, azo yellow, azo orange), solubility (oil, water), and application (textiles, plastic, printing inks, food, paints & varnishes, rubber), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Key Segments of Azo Pigment Market Research:
- By Product Type :
- Azo Red
- Azo Yellow
- Azo Orange
- By Solubility :
- Oil
- Water
- By Application :
- Textiles
- Plastic
- Printing Inks
- Food
- Paints & Varnishes
- Rubber
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