Organic Pigments Market by Type (Azo Pigments, Phthalocyanine, Anthraquinone, and Others), Source (Natural and Synthetic), and Application (Printing Inks, Paints & Coatings, Plastics & Polymers, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 5.7 billion mark in 2022 and is expected to hit US$ 7.8 billion by 2030, recording a CAGR of 4.0% during the forecast period.
Benefits of Organic Pigments over Inorganic Pigments
Organic pigments posses better properties than inorganic pigments. Organic pigments are bright and have higher color strength than inorganic pigments. They exhibit high color tint despite being transparent and have high gloss. Moreover, they are non-toxic and have high resistance against chemicals. Furthermore, organic pigments are available in attractive color shades driving their demand for various applications such as paints & coatings, printing inks, and plastics & polymers. Due to its high color strength and better tonal qualities than inorganic pigments, the demand for organic pigments is rising for designing advertising leaflets and catalogues. Moreover, organic pigments are also used in printing inks used on food packages due to its non-toxicity. These factors are driving the demand for organic piments in the global market.
Within the report, the market is segmented into type, source, application, and geography. By type, the market is segmented into azo pigments, phthalocyanine, anthraquinone, and others. Based on source, the market is bifurcated into natural and synthetic. On the basis of application, the market is segmented into printing inks, paints & coatings, plastics & polymers, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Rising demand for organic pigments for manufacturing printing inks
Organic pigments offer better structural, optical, and drying properties to the printing inks. This factor is driving the organic pigments demand in the printing inks industry. Organic pigments are non-toxic and certified as GRAS (Generally Regarded as Safe) by the Food and Drug Administration (FDA). They can be used in printing inks used on food packages. Organic pigments also provide high optical density, rub resistance, and rheological flow properties to the printing inks. This factor is driving their demand for manufacturing printing inks. The global packaging industry is growing at a rapid pace. With rising demand for convenience food and beverages, electrical and electronic appliances, personal care and cosmetic products, the demand for flexible packaging is also increasing. Thus, the significant growth of the packaging industry and rising utilization of printing inks on various packages are some of the primary factors driving the demand for organic pigments.
Increasing Number of Product Launches
With rising demand for organic pigments, manufacturers are launching more effective products with enhanced properties to meet the changing requirements of consumers. For instance, in September 2019, Clariant AG launched new organic pigments for biodegradable plastics that meet the European norms for packaging. The new line of pigments contains 25 color shades that enhance the appeal of biodegradable and recyclable plastics. Such products are gaining high consumer traction. Manufacturers are also developing additives that enhance the dispersibility of organic pigments. For instance, BASF launched innovative and highly effective dispersing agents for organic pigments in September 2019. Such strategies by the key market players are expected to boost the organic pigments market over the forecast period.
Recent strategic developments in organic pigments market
The organic pigments market has undergone several significant developments, and a few of these have been mentioned below:
- In June 2021, DIC Corporation acquired the global colors and effects business segment of BASF to expand its market share and product offerings in the organic pigments space.
- In June 2021, Heubach GmbH partnered with SK Capital to acquire the paints and pigments business segment of Clariant AG.
The organic pigments market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BASF, Clariant AG, DIC Corporation, Heubach GmbH, Sudarshan Chemical Industries Ltd., are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Manufacturers and distributors of organic pigments
- Government bodies, such as regulating authorities and policy makers
- Printing inks manufacturers and raw material suppliers
- Plastic and polymer manufacturers
- Packaging companies and distributors
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Type:
- Azo Pigments
- Pthalocyanine
- Anthraquinone
- Others
- Source:
- Natural
- Synthetic
- Application:
- Printing Inks
- Paints & Coatings
- Plastics & Polymers
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- BASF
- Clariant AG
- DIC Corporation
- Heubach GmbH
- Sudarshan Chemical Industries Ltd.
Companies profiled
- BASF
- Clariant AG
- DIC Corporation
- Heubach GmbH
- Sudarshan Chemical Industries Ltd.