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:
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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.
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.