The report Organic Pigments Market by Source (Synthetic and Natural), Type (Azo, Phthalocyanine, High-Performance Pigments(HPPs)), Application (Printing inks, Paints & Coatings, Plastics), and Region - Global Forecast to 2029, Organic pigments Market is estimated at USD 4.4 billion in 2024 and is projected to reach USD 6.0 billion by 2029, at a CAGR of 6.5% from 2024 to 2029. This market research report presents a complete judgment of the market through strategic insights on future trends, organic pigments market size, share, demand and growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis.
Organic pigments are organic compounds that change the color of reflected light with selective wavelength absorption. Due to their insoluble property in coating systems and polymers, organic pigments are widely accepted across end-use industries. Organic pigments offer higher color strength and gloss when compared with inorganic pigments at the cost of lower covering power. These pigments are mainly classified into three groups, azo pigments, polycyclic pigments, and anthraquinone pigments, based on carbon, hydrogen, and nitrogen as their basic chemicals.
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Browse in-depth TOC on "Organic pigments Market".
283 – Tables
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"The Synthetic source segment accounted for the largest market share in 2023, in terms of value."
In 2023, synthetic organic pigments segment dominated the global organic pigments market, in terms of value. The high market share and growth of synthetic organic pigments can be attributed to their key advantages as compared to other source, that is natural organic pigments. Synthetic organic pigments get manufactured by using acids, petroleum compounds, and many other chemicals under high pressure and heat. These pigments offer high durability, better gloss and high lightfastness.
"Azo pigments type accounted for the largest market share, in terms of volume in 2023."
Global organic pigments market has been segmented based on the types. In 2023, azo pigments type dominated the market in terms of volume and value by contributing to the highest market share. Azo pigments are the organic compounds having (-N=N-), functional azo group. They get further classified based on the chemistry into diazo pigments and monoazo pigments. Azo pigments are easily available in various shades of red, yellow, brown and orange color.
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"Printing ink application segment to remain the largest end-use application in terms of volume during the forecast period."
In 2023, printing ink application accounted for the largest market share of global organic pigments market, in terms of volume. Growing demand of organic pigments for printing inks from wide range of sectors specially from the food packaging is driving the market. Increasing restrictions and regulations about the usage of inorganic pigments has been fuelling the acceptance of organic pigments over inorganic pigments in the market. From last few years, organic pigments are gaining high acceptance in the marketing tools publications like magazines, brochures and other printed tools.
"Asia Pacific region accounted for the largest share in 2023, in terms of volume."
In 2023, Asia Pacific region accounted for the highest market share, in terms of volume. Rising urbanization, increasing purchasing power, and growing population in the region are some of the kay factors driving the growth of automotive, packaging, construction, and electronics industries. Also, growing focus and adoption of environmentally friendly products is driving the usage of organic pigments in various sectors. Well-established organic pigment manufacturers are focusing the Asia Pacific region due to the strong regional market. Many manufacturers are shifting their manufacturing base in the region due to low-cost production facilities.
Organic Pigments Market Trending Key Players
The key players profiled in the report include DIC Corporation (Japan), Heubach GmbH (Germany), and Dainichiseika Color & Chemicals Mfg. Co., Ltd. (Japan), Lily Group Co. Ltd. (China), Sunlour Pigment Co., Ltd. (China), Anshan Hifichem Co., Ltd. (China), Longkou Union Chemical Co., Ltd. (China), Meghmani Organics Ltd. (India), Asahi Songwon Colors Ltd. (India), and Sudarshan Chemical Industries Limited (India).
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DIC Corporation is a Japanese multinational company with organic pigments as its core business. The company is one of the premier manufacturers of specialty organic pigments, effect pigments, and high-performance pigments. Founded in 1908 as a printing ink manufacturer, it is among the top players in the organic pigments market. With its reach in more than 60 countries, DIC Corporation has developed a broad portfolio in markets such as automotive, electronics, food, and housing. The company operates through the following segments, namely, Packaging & Graphics, Colors & Display, and Functional Products. The company offers a wide range of organic pigments through its colors & display product segment catering to printing inks, plastics, and coatings applications.
Europe to be the second-largest market for Organic Pigments during the forecast period, in terms of value.
Europe is the second-largest organic pigments market globally. The major industries in the region include automotive, building & construction, and packaging. These industries consume plastics in large volumes, which is increasing the consumption of organic pigments. The demand for organic pigments is high in the paints & coatings application in the building & construction and automotive industries. Germany is the key organic pigments market in Europe, which has a high growth potential due to the increasing use of these pigments in the automotive industry for paints & coatings applications.
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