NEW YORK, Dec. 3, 2021 /PRNewswire/ -- The organic pigments
market size will grow by USD 1.18 bn
from 2020 to 2025, as per the latest market analysis report by
Technavio. The report also identifies the market growth
momentum to accelerate at 4.18% during the forecast
period. The report offers an outlook on various factors
influencing the current market scenario, latest trends, drivers,
and challenges impacting the overall market
environment.
For more insights on the CAGR and YOY Growth
Analysis, Read our Sample Report
Organic Pigments Market 2020-2025: Vendor
Landscape
The market is fragmented, and the degree of
fragmentation will accelerate during the forecast period.
Growing industrialization in developing regions has spurred the
entry and growth of domestic vendors that often provide strong
competition to global vendors because of better customer
relationships. Many vendors also provide customized services
that enable consumers to choose the exact hue they are looking for.
Successful and long-term incumbency can be achieved with optimized
production that generates economies of scale through penetration
into multi-regional markets.
BASF SE, Clariant International Ltd., Sun Chemical Corp., Ferro
Corp., Sensient Technologies Corp., Dainichiseika Color and
Chemicals Mfg. Co. Ltd., DCL Corp., DIC Corp., Heubach GmbH, and
LANXESS AG are among some of the
major market participants. Many companies are offering innovative
products to retain their market positions for longer tenures. For
instance, BASF SE offers organic pigments which has
color-based coating. Similarly, Clariant International
Ltd. offers superior quality organic pigments, pigment
preparations and dyes used in the automotive industry.
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analysis
Organic Pigments Market 2020-2025: Drivers and
Challenges
Population growth and demand for urbanized
areas has been instrumental in driving the growth of the
market. The migration of individuals from rural to urban areas
has led to an improved standard of living and people embracing
urban lifestyles. This has further resulted in the development from
automotive, construction, and general industrial segments. All
these segments are increasingly depending on organic pigments
sector for imparting aesthetic appeals. Furthermore, the demand for
novel pigments to impose entailing color development for catering
to individual tastes has also increased in recent years. For
instance, water-based coating systems are being increasingly
adopted in the automotive OEM, refinish, rim coatings, accessories,
and interiors markets with numerous color-intensive design
possibilities. This, in turn, is further expected to drive the
organic pigments market growth during the forecast period. In
addition, surging regulations on VOC emissions driving the organic
pigments market and increasing demand from the coatings sector
will further accelerate the market growth during the forecast
period.
The high cost of organic pigments might hamper the market
growth. Increased acceptance of these products has resulted in
competitive pricing with inorganic pigments, which dominate the
market, and hybrid pigments, which are slowly penetrating into the
pigments market. In addition, the increase in raw material prices
is expected to be a hindrance to the global organic pigments
market. Added to this, high prices of raw materials are increasing
concern for vendors of organic pigments. Fluctuation in the
prices of crude oil over the years has had a significant negative
impact on the operating costs of the vendors and their profit
margins. Furthermore, factors such as volatile raw material prices
to negatively impact organic pigments and cumbersome dispersion
process will eventually limit the market growth in the long
run.
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Influencing the Market
Organic Pigments Market 2020-2025: Segmentation
Analysis
- By Application, the market is segmented into
-
- Printing Inks
- Paints And Coatings
- Plastics
- Others
Printing Inks application held the organic pigments market share
in 2020. The segment will further dominate the market during the
forecast period due to their increased preference of organic
pigments over inorganic pigments as they are able to impart
brilliance and have high tinctorial strength. Changes in
consumer preferences, coupled with the growing importance of
packaging in branding and advertising, have increased the use of
organic pigments in the packaging sector, therefore, driving the
growth of organic pigments in printing inks.
- By Type, the market is classified into
-
- Azo
- Phthalocyanine
- Others
Azo pigments led over 52% of the organic pigments market share
in 2020. The segment is likely to retain its position as the
largest revenue-generating type segment during the forecast
period. These pigments are colorless earth and clay materials,
which, when treated using azo compounds, impart colors. The pigment
carrier is an important aspect that affects the light fastness of
azo pigments.
- In terms of Geography, the market is segmented by
-
- APAC
- Europe
- North America
- South America
- MEA
APAC was the largest revenue-generating regional segment of the
organic pigments market in 2020. The region is expected to record
the fastest market growth in the upcoming years. The increase
in focus on development, rapid industrialization, and the
flourishing automotive industry, especially in China and India, are anticipated to drive the demand for
paints and coatings. This, in turn, translates to the high demand
for organic pigments in the region. End-user industries such as
automotive and construction will drive the growth of the organic
pigments market in APAC during the forecast period. Countries like
China, India, and Japan contribute a major market share in the
global automotive industry. In addition, stringent government norms
to reduce products with high petrochemical or VOC content is a
growth driver for the organic pigments market.
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Segments and Their Market Share Contribution
Organic Pigments Market 2020-2025: Scope
Technavio
presents a detailed picture of the market by the way of study,
synthesis, and summation of data from multiple sources.
The organic pigments market report covers the following
areas:
- Organic Pigments Market Size
- Organic Pigments Market Trends
- Organic Pigments Market Industry Analysis
For customizing this Report to Meet your
Business Requirements, Talk to our Analysts.
Organic Pigments Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist organic
pigments market growth during the next five years
- Estimation of the organic pigments market size and its
contribution to the parent market
- Predictions on upcoming trends and changes in consumer
behavior
- The growth of the organic pigments market
- Analysis of the market's competitive landscape and detailed
information on vendors
- Comprehensive details of factors that will challenge the growth
of organic pigments market, vendors
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Organic Pigments
Market Scope
|
Report
Coverage
|
Details
|
Page
number
|
120
|
Base year
|
2020
|
Forecast
period
|
2021-2025
|
Growth momentum &
CAGR
|
Accelerate at a CAGR
of 4.18%
|
Market growth
2021-2025
|
USD 1.18
billion
|
Market
structure
|
Fragmented
|
YoY growth
(%)
|
2.96
|
Regional
analysis
|
APAC, Europe, North
America, South America, and MEA
|
Performing market
contribution
|
APAC at
47%
|
Key consumer
countries
|
US, China, Germany,
Japan, and India
|
Competitive
landscape
|
Leading companies,
competitive strategies, consumer engagement scope
|
Companies
profiled
|
BASF SE, Clariant
International Ltd., Sun Chemical Corp., Ferro Corp., Sensient
Technologies Corp., Dainichiseika Color and Chemicals Mfg. Co.
Ltd., DCL Corp., DIC Corp., , Heubach GmbH, and LANXESS
AG
|
Market
Dynamics
|
Parent market
analysis, Market growth inducers and obstacles, Fast-growing and
slow-growing segment analysis, COVID-19 impact and future consumer
dynamics, market condition analysis for the forecast
period
|
Customization
purview
|
If our report has not
included the data that you are looking for, you can reach out to
our analysts and get segments customized.
|
Key Topics Covered
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Application
- Market Segmentation by Type
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
About Us
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