Stringent regulations regarding usage of printing inks in food contact material and expansion of the coatings industry are key factors driving market revenue growth
The global organic pigments market size is expected to reach USD 6.10 Billion in 2028 and register a revenue CAGR of 4.9% during the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by the implementation of stringent regulations governing the usage of printing inks in food contact materials. The increasing issue of safety in food packaging is boosting the demand for eco-friendly products. It is set to result in increased scrutiny of pigments utilized in food and packaging. Organic pigments are nowadays being used in the food packaging industry as printing inks. This is mainly occurring, owing to safety issues among the concerned population regarding the possible transfer of packaging color into food items. As organic pigments are made up of eco-friendly materials and are free-from heavy metals such as oxides of iron and titanium, these are showcasing high demand. Good quality organic pigments are also stable in terms of color & viscosity and can be easily printed on several substrates. These factors are expected to boost the revenue growth of the market during the forecast period.
Moreover, the expansion of the coatings industry is contributing to the growing demand for organic pigments. The coatings industry is increasingly utilizing organic pigments to meet the high demand for marine, decorative, industrial, and automotive coatings. The growth of sustainable and premium quality paints is resulting in a surging demand for organic pigments. There is an increasing demand for High-performance Pigments (HPP) among the paints & coatings and printing ink industries owing to superior properties. Rising demand for brighter and cleaner colors with high resistance properties is boosting demand for High-performance Pigments (HPP).
Some Key Highlights in the Report
- In July 2021, Clariant AG announced that its pigments were certified OK Compost Industrial by TUV Austria. These certified pigments can be utilized in coloring plastic products, including packaging. nine selected products in Clariant’s Graphtol, and PV Fast ranges. These pigments meet the requirements of European Union standards. The company’s Graphtol and PV Fast range of pigment powders are high-performance organic pigments. These are used in various applications such as plastic tableware/dishware or toys and sensitive food contact packaging.
- Azo segment is expected to account for the largest revenue share in the global organic pigments market over the forecast period. High durability, excellent heat stability, and good lightfastness properties exhibited by azo pigments would drive the growth of this segment. Besides, azo pigments are extensively used in various applications such as paints, industrial & automotive finishes, and other industrial coatings.
- Synthetic segment is expected to register a considerable revenue share over the forecast period. These organic pigments provide low toxicity and intense color attributes, which in turn, is expected to drive revenue growth of the segment. Additionally, these are utilized in printing inks, architectural paints & coloring textiles, automotive finishes, plastics, and papers.
- Paints & coatings segment is expected to expand significantly over the forecast period. Expansion of the construction industry, especially in developing countries, and rising spending in infrastructure development are resulting in increasing applications of paints & coatings in the construction industry.
- The market in the Asia Pacific is expected to expand at a rapid revenue CAGR over the forecast period. This growth is attributable to the high demand for organic pigments from various end-use industries such as construction industries, automotive, and packaging.
- Some companies in the market include BASF SE, Clariant AG, DIC Corporation, Heubach GmbH, Sudarshan Chemical Industries, Ferro Corporation, Trust Chem, Toyocolor Co., Ltd., Huntsman Corporation, and The Dow Chemical Company.
For this report, Reports and Data have segmented the global organic pigments market based on type, source type, application, and region:
- Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- High Performance
- Source Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Application Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Printing Inks
- Paints & Coatings
- Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- North America
- Asia Pacific
- Latin America