According to Market Research Future (MRFR), the global Organic Pigment Industry was estimated at more than USD 3.5 billion in 2018. It is projected to see substantial growth of CAGR 4.75% from 2017 to 2025 (forecast period). The report offers a description of the present scenario, the economic condition and the COVID-19 impact on the overall market.
Organic pigments are colored materials made of carbon chains with pigment properties. They are primarily obtained from renewable and synthetic sources. Natural organic pigments are usually derived either from vegetables (plants) or from animals. Some of the natural organic pigments are the pink or crimson colors of the madder root, the deep red carmine produced from the dried bodies of female wingless scale insects, the dark red resin exuded from the fruit of the rattan palm, the dark blue indigo produced from the fermented gray-green leaves and the flowering stems of over 30 related plant species, and several others.
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Synthetic organic pigments are carbon-based molecules that are typically derived from petroleum compounds, acids, and other chemicals under extreme heat or pressure. Organic pigments derived from synthetic materials are increasingly favored by today's industries. Such pigments show excellent chemical resistance and lightfastness, chemical consistency, bright and solid color, and excellent transparency. Due to these properties, the product is used in the paint coating, plastics, textile, automotive, electronics, construction, and personal care cosmetics industries.
Market Dynamics
The increasing use of the product in the paint coating, plastics, and textile industries is anticipated to push global market growth during the forecast period. Organic pigments are commonly used as colorants in the plastics and textile industries. The plastics industry is growing increasingly due to the large-scale use of plastics in packaging applications. It is expected to raise demand for organic pigments and accelerate global market growth in the years to come.
Moreover, the growing demand for organic pigments in printing ink production is projected to be a significant driver of global market development. Nevertheless, volatile raw material prices and higher organic pigment prices than inorganic pigments are expected to impede the global market growth. However, the expanding scope of organic pigments in the electronics industry is likely to generate lucrative opportunities for market players in the years to come.
Market Segmentation
The global market for organic pigments has been classified based on source, type, and application.
Based on the source, the global market for organic pigments has been divided into natural and synthetic.
By type, the global market for organic pigments has been segmented into azo, phthalocyanine, alizarin, arylide, and others.
By application, the global market for organic pigments has been segmented into printing ink, paints, plastics, rubber, optoelectronics, cosmetics, and paper tinting.
Regional Analysis
Region-wise, the global market for organic pigments has been segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East Africa.
In 2018, Asia Pacific dominated the global market for organic pigments due to the growing demand for organic pigments in the plastics, paint coating, and textile industries. However, the rapid growth of the packaging industry, combined with the rising use of organic pigments in food and commercial packaging applications, is also expected to drive the growth of the regional market. India, China, Japan, Malaysia, and South Korea are projected to be the key economies supporting the growth of the regional market.
The other substantially rising global organic pigment markets are the Middle East Africa, and Latin America. The rising demand for the product in paint and printing ink applications is anticipated to propel the growth of the regional markets.
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Key Players
Some of the leading participants operating in the global organic pigments market are Heubach GmbH (Germany), BASF SE (Germany), Clariant (Switzerland), DIC Corporation (Japan), Changzhou Longyu Pigment Chemical Co. Ltd (China), Trust Chem Co. Ltd (China), Ferro Corporation (US), Sudarshan Chemical Industries Limited (India), Synthesia AS (Czech Republic), Toyocolor Co. Ltd (Japan), and Dainichiseika Color Chemicals Mfg. Co. Ltd (Japan).
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