The organic pigments market is projected to grow at a CAGR of 3.04% to reach US$3,743.645 million by 2026, from US$3,034.996 million in 2019.
Organic pigments are colored materials made from carbon chains with pigment properties. They are obtained from natural and synthetic sources due to which they provide intense and bright colors to the pigment. Organic pigments are being preferred over conventional pigments as they provide a metallic finish and have an elastic property as opposed to the other pigments. The market demand for synthetic-based organic pigments is surging worldwide as they are increasingly being preferred by several industries such as paints and coatings, printing inks, textile, automotive, electronics, etc. These pigments are being preferred as they exhibit beneficial properties such as good chemical resistance and lightfastness, chemical stability, bright and strong color, and excellent transparency. In addition, the growing demand for aesthetic and attractive packaging across the food and beverage industry is one of the major drivers of the organic pigments market due to the rapidly surging population and the increasing urbanization of the food and beverage industry, across the globe is flourishing. Moreover, the stringent regulations regarding the use of printing inks in food contact materials are also fueling the demand for organic pigments across this industry.
Also, the rising demand for high-performance pigments in the advertising, textile, automotive, construction industries as these pigments have higher lightfastness, fastness to chemical exposure, weather-fastness, and heat stability than conventional pigments. Further, the organic pigments have high color fastness and insolubility which further gives them an edge over the conventional pigments will continue to bolster the growth of the organic pigments market during the forecast period. Furthermore, the key market players have been investing in their organic pigments portfolio by launching new products, acquiring and merging with competitors, etc. which will further contribute to the market growth. For instance, in June 2021, DIC Corporation, acquired BASF’s global pigments business, known as BASF Colors & Effects (BCE) to build a complementary portfolio of technologies, products, and manufacturing assets, supply chain, and customer service of the two companies to serve customers globally.
By application, the paintings and coatings segment is estimated to hold a dominant market share owing to the surging demand for decorative coatings, marine coatings, automotive coatings, and industrial coatings, globally. Geographically, the North American region is estimated to hold the largest share owing to the strict regulations regarding the packaging and labeling of food and beverage products. Also, the Asia-Pacific region will grow at a high CAGR due to the increasing demand for organic pigments from several industries such as packaging, automotive, and construction industries in the region.
The growing importance of marketing and branding in the business environment has encouraged companies to invest huge chunks of their budget in the advertising of their products, which in turn will drive the market growth of the organic pigment market during the forecast period. Also, to differentiate the product from the competitors, companies largely invest in the aesthetics of their packaging. The organic pigments are brighter, more colorful, and much more attractive which prompts the end-user industries to use them over the conventional pigments, which will further bolster their market growth over the next few years.
The costs associated with organic pigments are much more than the conventional pigments as these pigments are derived from natural sources. The organic pigments are produced on a small scale which doesn’t allow the manufactures to reap the benefits of economies of scale which the conventional pigment makers enjoy, which makes the process an expensive and time-consuming one and also increases the final price of the pigment. This may restraint the market growth in the long run as the small and medium businesses might not be able to afford these pigments due to budgetary constraints.
The Covid-19 pandemic negatively impacted the organic pigment market, as due to the nationwide lockdown and the temporary suspension of business operations, many industries such as printing, automotive, textile, construction, etc. suffered huge losses, which hampered the market growth of the organic pigments as the demand declined. However, with the ease of restrictions and normalcy being restored in the business operations, the market is expected to rebound during the forecast period.
The market leaders for the wireless gas detection market consist of BASF SE, Clariant AG, Heubach GmbH, Toyocolor Co., Ltd., DIC Corporation, Ferro Corporation, Trust Chem Co., Ltd., Dainichiseika Color & Chemicals Manufacturing Co., Ltd., and Cathay Industries. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For instance, in May 2018, Clariant AG, launched two new organic pigments, Ink Jet Magenta E-S VP6057 and Ink Jet Orange GR VP6102 for the inkjet application to enable the company to strengthen its product portfolio. Also, in April 2018, Dominion Colour Corporation, a leading global manufacturer of high-performance pigments, dispersions, and preparations for the coatings, plastics, and specialty ink industries, and LANSCO Colors, a market-leading supplier of a wide range of quality pigments sold to similar industries, merged to strengths both the companies.
|Market size value in 2019||US$3,034.996 million|
|Market size value in 2026||US$3,743.645 million|
|Growth Rate||CAGR of 3.04% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||BASF SE, Clariant AG, Heubach GmbH, Toyocolor Co., Ltd., DIC Corporation, Ferro Corporation, Trust Chem Co., Ltd., Dainichiseika Color & Chemicals Manufacturing Co., Ltd., Cathay Industries|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the organic pigments market size by 2026?
A1. The organic pigments market is projected to reach a total market size of US$3,743.645 million in 2026.
Q2. What are the growth prospects for organic pigments market?
A2. The global organic pigments market is projected to grow at a CAGR of 3.04% during the forecast period.
Q3. What is the size of global organic pigments market?
A3. Organic Pigments Market was valued at US$3,034.996 million in 2019.
Q4. Which region holds the largest market share in the organic pigments market?
A4. North America holds a significant share on account of strict regulations regarding the packaging and labeling of food and beverage products.
Q5. What factors are anticipated to drive the organic pigments market growth?
A5. The growing demand for aesthetic and attractive packaging across the food and beverage industry is one of the major drivers of the organic pigments market.
Toyocolor Co., Ltd.
Trust Chem Co., Ltd.
Dainichiseika Color & Chemicals Manufacturing Co., Ltd.
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