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(Health-NewsWire.Net, December 24, 2019 ) Market Overview
Organic pigments refer to colored materials made of an organic compound with pigment properties. Organic pigments do not have an affinity to the colored substance, instead, attach to the surface of the colored element through the adhesive or film-forming material to achieve the purpose of coloring the object.
They are also insoluble organic compounds with high-performance characteristics such as sunshine-resistant, acid & alkali resistant, heat resistant and have excellent dispersion properties.
The rising demand for organic pigments from end-user industries such as textile, plastics, and cosmetics, owing to their cost-effective and non-toxic properties is expected to boost the growth of organic pigment market. However, the high costs of organic pigments when compared to those of inorganic compounds might hamper the growth of the market.
The organic pigment market accounted for USD YY million in 2019 and is expected to grow at a CAGR of YY% to reach USD YY million in 2026.
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Market Dynamics
The stringent regulations for the use of printing inks in food contact materials, the growing demand of organic pigments from end-use industries such as textile, plastics, cosmetics, and the rapid urbanization in the developing regions of the Asia-Pacific are the primary market drivers.
Inorganic pigments contain heavy metals such as iron oxide, titanium dioxide, and cadmium, which are considered to be toxic to human health.
Therefore, the absence of these heavy metals and their environment-friendly traits coupled with the stringent regulations for using organic pigments for printing inks in food contact materials is expected to boost the growth of the market.
Moreover, the rapid industrialization coupled with the growth of various developing regions of Asia-Pacific owing to their cost-effective and non-toxic characteristics is expected to drive the growth of the market.
For instance, in October 2017, Clariant AG has launched a new organic colorant pigment for plastics, Telasperse PVC, that is free-flowing, dust-free powder pigment entirely dispersed that are based on a PVC containing a non-phthalate plasticizer with a lead-free stabilization.
However, the higher costs of organic pigments when compare to that of inorganic pigments owing to the volatility in the raw material prices, such as copper phthalocyanines and other aromatic hydrocarbons, is expected to hamper the growth of the market.
The market size of the organic pigments is much smaller as compared to inorganic pigments market. Therefore, the producers of inorganic pigments experience economies of scale, whereas that of organic pigment producers do not require which increases the price of the final product.
Market Segmentation
The Global organic pigments market is segmented by type, application, and the source.
By application, the global organic pigments market is segmented into printing inks, paints & coatings, plastics, and others.
Paints & coatings are the fastest growing application, primarily driven by the increasing constructions in the Asia-Pacific region, due to the rapid industrialization in this region.
However, the stringent regulations for using printing inks in food contact materials, owing to the environment-friendly and non-toxic properties of organic pigments is expected to significantly boost the growth of inks application segment in the forecast period.
By type, the global organic pigments market is segmented into azo pigments, phthalocyanine pigments, High-Performance Pigments (HPPs), and others. By source, the global organic pigments market is segmented into natural organic dyes and synthetic organic pigments.
Market Share
The global Organic Pigments market is segmented into the regions as North America, Europe, Asia Pacific, South America, and others. Asia-Pacific is the fastest growing region, owing to the rise in the number of textile industries.
Moreover, the growing infrastructure coupled with rapid industrialization is expected to drive the growth of the market in the Asia-Pacific region.
Competitive Trends
The Global organic pigments market is quite smaller when compared to that of the inorganic pigment market, owing to the high production costs.
Organic pigments are usually cost approximately twice more than inorganic pigments, which limits its market. The key market players are focused on designing and developing new products that offer applications in a wide range of end-use industries. For instance, in April 2017, BASF has launched a new organic, environmentally friendly dry stir-in pigment, Xfastฎ Easy Color, for POS in the professional and DIY markets.
The product has been developed for a wide array of applications, including exterior and interior architectural paints; artist paints, wood glazes and coatings, plaster, concrete coatings and more.
Key Companies
BASF SE
Clariant AG
Dominion Colour Corporation
Ferro Corporation
Heubach GmbH
Lansco Colors
Sudarshan Chemical Industries Ltd.
Sun Chemical Corporation
Synthesia
Trust Chem Co. Ltd.
Report Takeaways
Paints & Coatings is the fastest growing application segment, owing to the increasing constructions in the Asia-Pacific region, due to the rapid industrialization in this region.
Asia-Pacific is the fastest growing geographic segment, owing to the rapid industrialization coupled with rising textile industries.
The global organic pigments market is quite smaller when compared to that of the inorganic pigment market, owing to the high production costs.
Report of the Scope
The report covers the factors impacting the market, Porter 5 Forces, Competitive Landscape, Product Benchmarking, and company profiles. Organic Pigments Market is segmented based on the type as azo pigments, phthalocyanine pigments, HPPs, and others. Based on the application the market is segmented as printing inks, paints & coatings, plastics, and others. Based on the source the market is segmented into natural organic pigments and synthetic organic pigments. Based on geography the market is segmented into North America, South America, Europe, Asia Pacific and the Middle East and Africa.
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