07.17.18
MarketsandMarkets' report "Organic Pigments Market by Type (Azo Pigments, Phthalocyanine Pigments, HPPs), Application (Printing Inks, Paints and Coatings, Plastics), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Global Forecast to 2023", The organic pigments market size is estimated at $3.69 billion in 2018 and is projected to reach $4.67 billion by 2023, at a CAGR of 4.8% between 2018 and 2023.
Packaging plays a very important role in establishing brand value in the minds of customers. The importance of aesthetics in packaging has grown due to the need for product differentiation arising from high competition. This is one of the major reason which is driving the market for organic pigments in printing inks used in packaging. In addition, the absence of heavy metals in organic pigments is also a major driver for this market. Heavy metals are considered to be one of the most harmful substances to human health.
The azo pigments segment is projected to account for the largest share of the overall organic pigments market as it is economical and is widely used in applications such as printing inks, plastics, paints and coatings, and so on. Azo pigments are available in a wide range of colors such as red, orange, and yellow for printing application, which further increases its demand.
The printing inks segment is the largest application of the organic pigments market. Plastic packaging of food and beverage, consumer goods, and printing media are the major industries driving the market for organic pigments in printing inks application. In addition, stringent government regulations to use organic pigments in food contact materials also drives the market for pigments in printing inks application.
Asia Pacific is the largest and the fastest-growing market for organic pigments due to the rising demand from packaging, automotive, and construction industries in the region. In addition to this, the increasing population in Asia Pacific countries present a significant customer base for FMCG products and food and beverages, which is expected to lead to the growth of the packaging industry. The growth in the packaging industry is also expected to drive the market for organic pigments in the region.
Packaging plays a very important role in establishing brand value in the minds of customers. The importance of aesthetics in packaging has grown due to the need for product differentiation arising from high competition. This is one of the major reason which is driving the market for organic pigments in printing inks used in packaging. In addition, the absence of heavy metals in organic pigments is also a major driver for this market. Heavy metals are considered to be one of the most harmful substances to human health.
The azo pigments segment is projected to account for the largest share of the overall organic pigments market as it is economical and is widely used in applications such as printing inks, plastics, paints and coatings, and so on. Azo pigments are available in a wide range of colors such as red, orange, and yellow for printing application, which further increases its demand.
The printing inks segment is the largest application of the organic pigments market. Plastic packaging of food and beverage, consumer goods, and printing media are the major industries driving the market for organic pigments in printing inks application. In addition, stringent government regulations to use organic pigments in food contact materials also drives the market for pigments in printing inks application.
Asia Pacific is the largest and the fastest-growing market for organic pigments due to the rising demand from packaging, automotive, and construction industries in the region. In addition to this, the increasing population in Asia Pacific countries present a significant customer base for FMCG products and food and beverages, which is expected to lead to the growth of the packaging industry. The growth in the packaging industry is also expected to drive the market for organic pigments in the region.
