CHICAGO, April 29,
2024 /PRNewswire/ -- The report Organic
Pigments Market by Source (Synthetic and Natural), Type
(Azo, Phthalocyanine, High-Performance Pigments(HPPs)), Application
(Printing inks, Paints & Coatings, Plastics), and Region -
Global Forecast to 2029, Organic pigments Market is
estimated at USD 4.4 billion in 2024
and is projected to reach USD 6.0
billion by 2029, at a CAGR of 6.5% from 2024 to 2029.
Organic pigments are organic compounds that change the color of
reflected light with selective wavelength absorption. Due to their
insoluble property in coating systems and polymers, organic
pigments are widely accepted across end-use industries. Organic
pigments offer higher color strength and gloss when compared with
inorganic pigments at the cost of lower covering power. These
pigments are mainly classified into three groups, azo pigments,
polycyclic pigments, and anthraquinone pigments, based on carbon,
hydrogen, and nitrogen as their basic chemicals.
Browse in-depth TOC on "Organic pigments Market".
283 – Tables
62 – Figures
220 –
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"The Synthetic source segment accounted for the largest
market share in 2023, in terms of value."
In 2023, synthetic organic pigments segment dominated the global
organic pigments market, in terms of value. The high market share
and growth of synthetic organic pigments can be attributed to their
key advantages as compared to other source, that is natural organic
pigments. Synthetic organic pigments get manufactured by using
acids, petroleum compounds, and many other chemicals under high
pressure and heat. These pigments offer high durability, better
gloss and high lightfastness.
"Azo pigments type accounted for the largest market share, in
terms of volume in 2023."
Global organic pigments market has been segmented based on the
types. In 2023, azo pigments type dominated the market in terms of
volume and value by contributing to the highest market share. Azo
pigments are the organic compounds having (-N=N-), functional azo
group. They get further classified based on the chemistry into
diazo pigments and monoazo pigments. Azo pigments are easily
available in various shades of red, yellow, brown and orange
color.
"Printing ink application segment to remain the largest
end-use application in terms of volume during the forecast
period."
In 2023, printing ink application accounted for the largest
market share of global organic pigments market, in terms of volume.
Growing demand of organic pigments for printing inks from wide
range of sectors specially from the food packaging is driving the
market. Increasing restrictions and regulations about the usage of
inorganic pigments has been fuelling the acceptance of organic
pigments over inorganic pigments in the market. From last few
years, organic pigments are gaining high acceptance in the
marketing tools publications like magazines, brochures and other
printed tools.
"Asia Pacific region
accounted for the largest share in 2023, in terms of
volume."
In 2023, Asia Pacific region
accounted for the highest market share, in terms of volume. Rising
urbanization, increasing purchasing power, and growing population
in the region are some of the kay factors driving the growth of
automotive, packaging, construction, and electronics industries.
Also, growing focus and adoption of environmentally friendly
products is driving the usage of organic pigments in various
sectors. Well-established organic pigment manufacturers are
focusing the Asia Pacific region
due to the strong regional market. Many manufacturers are shifting
their manufacturing base in the region due to low-cost production
facilities.
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The key players profiled in the report include DIC Corporation
(Japan), Heubach GmbH
(Germany), and Dainichiseika Color
& Chemicals Mfg. Co., Ltd. (Japan), Lily Group Co. Ltd. (China), Sunlour Pigment Co., Ltd.
(China), Anshan Hifichem Co., Ltd.
(China), Longkou Union Chemical
Co., Ltd. (China), Meghmani
Organics Ltd. (India), Asahi
Songwon Colors Ltd. (India), and
Sudarshan Chemical Industries Limited (India).
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