Organic Pigments Market Growth
NEW YORK CITY, NY, UNITED STATES, January 17, 2022 -- The latest industry analysis report published by Reports and Data provides vital data and information relating to the global Organic Pigments industry and precisely evaluates the forecast market size and revenue growth rate. The global is expected to reach USD 6.10 Billion in 2028 and register a revenue CAGR of 4.9% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by the increasing application of these pigments in inks, paints, plastics, and rubbers. Organic pigments are also extensively used as mass colorants in different sectors such as printing inks, paints & coatings, plastic, and textile.
Organic pigments refer to colored materials that are made of organic compounds with pigment properties. These pigments are resistant to sunlight, heat, acid, alkali, and organic solvents. These also have an excellent dispersion property, which, in turn, is set to drive demand among various end-use industries. Organic pigments have bright colors, high tinting strength, and dispersion properties. The excellent performance offered by these pigments in terms of durability, color, mobility, and appropriate viscosity to inks is expected to boost revenue growth of the market during the forecast period. These are also gaining more popularity, owing to rising usage as coloring agents of synthetic fibers and plastics. Rising expenditure in infrastructure development and increasing constructional activities are propelling demand for paints & coatings from the construction industry. Additionally, various manufacturers are increasingly investing in R&D activities to offer a comprehensive range of high-quality organic pigments for applications such as printing inks, paints & coatings, plastic, and textiles.
The global materials & chemicals industry has gained impetus over recent years, owing to factors such as rising demand for essential consumer products including food & beverages, cosmetics, and personal care & hygiene products, and increasing use of chemicals and raw materials in the buildings & construction, agriculture, textiles, automotive, packaging, and several other industries. The rising focus of manufacturers on deploying environmentally sustainable materials and chemicals to augment industrial productivity and reduce carbon footprint is a major factor driving the growth of this industry. Rising consciousness about environmental conservation, the introduction of technologically advanced and organic chemical products, and the growing use of high-performance specialty chemicals further boost the industry revenue growth.
The azo segment is expected to account for the largest market revenue share in the global organic pigments market over the forecast period, owing to its wide usage in different sectors such as printing inks, paints & coatings, plastic, and textile. These are available in a wide range of colors such as yellow, orange, and red for painting and coating applications.
The synthetic segment is expected to register a considerable revenue share over the forecast period. End-use industries mainly prefer synthetic organic pigments, owing to various lightfastness properties, which, in turn, is expected to drive revenue growth of the segment during the forecast period.
The paints & coatings segment is expected to account for a significant revenue share in the global organic pigments market. Rising demand for marine coatings, decorative coatings, industrial coatings, and automotive coatings is expected to drive the growth of the paints & coatings segment in the upcoming years.