Pigments are primarily used for coloring paint, plastic, fiber, ink and other materials. Organic pigments are categorized into natural and synthetic. Organic natural pigments are mainly extracted from plant and animal sources. Synthetic organic pigments are produced from petroleum compounds. Organic pigments are used to alter the color of transmitted or reflected light by the process of wavelength absorption. Pigments are applied on the substrate by or scattering of light or selective absorption. They are used as finely crushed powder in visual arts. They are usually derived from the derivatives of coal tars. The organic pigment has high photo chromatic properties, high solubility, fluorescence, durability, heat resistance and and thermo chromatic property. Organic pigments can be prepared by natural and synthetic methods. Organic pigments market is expected to observe significant growth on account of its application in different end-use industries such as printing inks, plastics, paints and coatings and textiles.
Market Size and Forecast
The global organic pigments market is anticipated to expand at a CAGR around 5.0% during 2017-2027. Organic pigments market is anticipated to value at USD 5.9 Billion by 2027. This is attributed to the fact of high application organic pigment in textile, paints and coatings and plastics which in turn is expected to drive the global organic pigments market.
The global organic pigments market can be segmented on the basis of source, type of pigment and application. On the basis of pigment it is further sub-segmented into phthalocyanine pigments, azo pigments and HPPs (High-performance Pigments). Azo pigments is anticipated to be the leading segment on the account of its extensive applications in printing inks , plastics coupled with optimum price associated with pigment. The availability of azo pigments in wide variety of colors such as yellow, orange and red is anticipated to fuel its market growth in the forthcoming years.
By region, global organic pigments market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia-Pacific region is anticipated to be fastest growing region on the account of rising demand from different end-user industries .The rising population coupled with favorable government regulations in the region is the major factor driving the demand for the organic pigments. Moreover, increasing industrialization and rising infrastructure development in countries such as India, China and Indonesia are other major factors that are expected to propel the market growth of organic pigment in Asia Pacific region.
Our in-depth analysis segmented the global organic pigments market in the following segments:
Global organic pigments market is further classified on the basis of region as follows:
Growth Drivers and Challenges
The major growth factor associated with organic pigments market is the high availability of pigments in different shades. Additionally, rise in usage of pigments in different applications is anticipated to fuel the market growth. The rapid industrialization is expected to increase the use of organic pigments in plastic, paint and textile industry which is further expected to drive the organic pigment market globally. Additionally, growing demand for the superior quality organic pigments from the cosmetic industry is expected to further boost the market growth of organic pigments globally.
However, the fluctuating prices of raw materials used for manufacturing organic pigment are anticipated to hinder the market growth.
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