Market Synopsis:
Market Research Future (MRFR)’s latest report projects steady growth for global organic pigments market striking a healthy CAGR of 4.5% during the forecast period. The increasing application across different industry verticals is anticipated to fuel demand in the market.
The paint coating industry fuel the major demand for organic pigments. The increasing construction activities have propelled the demand for paints coatings. It is likely to drive the demand in the organic pigments market passively. Furthermore, the demand for organic pigments from end-user industries such as textiles, plastic, cosmetics, etc. is anticipated to catapult the organic pigments market on an upward trajectory.
The factors responsible for catalyzing the expansion of the organic pigments market include consistent unique shades, cost-effectiveness, non-toxicity, stability to solvents, etc. Other factors responsible for the growth of the market are rising urbanization, increasing disposable income, rising population, etc. However, volatility in the costs of raw materials remains an impediment to the market.
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Segmentation:
The global organic pigments market has been discussed by MRFR market analysts, on the basis of the source, type, and application. This segmentation creates better opportunities for various companies who can have better insights and plan accordingly to increase their profit margin.
By source, the global market for organic pigments can be segmented into natural and synthetic. The natural segment is getting substantial traction as the demand for eco-friendly products is rising.
By type, the global study on the organic pigments market can be segmented into arylide, phthalocyanine, alizarin, azo, and others.
By applications, the global report on the organic pigments market can be segmented into paints, plastics, printing ink, cosmetics, optoelectronics, rubber, and paper tinting. The paint segment is getting traction from several end user industries, which is spurring the global demand for organic pigments.
Regional Analysis:
By region, the global organic pigments market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific the largest and the fastest growing market for organic pigments globally. It is likely to retain its dominant position over the assessment period, with China being one of the primary revenue generators. Asia Pacific is becoming the manufacturing hub of the organic pigments industry leaders due to the provisions offered such as low labor cost and lenient regulatory laws. This is expected to favor the expansion of the organic pigments market in the foreseeable future. Other factors responsible for aiding market expansion in the region include rapid urbanization, industrialization, and rising construction activities among others.
The Rest of the World is expected to exhibit moderate growth during the projection period. The growth is attributable to the strong value maintained by the construction sector in the Middle East region. North America and Europe are two significant growth pockets of the global organic compounds market. They are prognosticated to remain lucrative markets over the next couple of years.
Competitive Dashboard:
Some of the key players profiled in the report are BASF SE, Nippon Kayaku Company Limited, Cabot Corporation, Clariant, Evonik Degussa, Ei Dupont De Nemours, Sensient Technologies, Dow Chemical Company, Huntsman Corporation, Synthesia, Shanghai Road Dyestuffs Chemicals, and Dic Corporation.
Industry News:
In August 2018, Toronto based Dominion Colour Corporation (DCC) merged with Lansco Colors, a global provider of quality pigments for offering a broad portfolio of color pigments all over the world.
In September 2018, Yortay, leading pearl pigment powder supplier, announced its expansion into the food industry.
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