08.31.21
MarketsandMarkets’ report, "Organic Pigments Market by Source (Synthetic and Natural), Type (Azo, Phthalocyanine, HPPs), Application (Printing inks, Paints & Coatings, Plastics), and Region (North America,Europe,APAC,MEA,and South America) - Global Forecast to 2026," estimates that the organic pigments market is projected to grow from $5.5 billion in 2021 to $6.7 billion by 2026.
The printing inks segment accounted for a share of 36.4% in terms of value in the organic pigments market in 2021 and is projected to reach $2.4 billion by 2026 at a CAGR of 3.9%. The paints & coating sector is projected to witness the highest CAGR of 4.5%, growing from $1.7 billion in 2021 to $2.4 billion by 2026.
Synthetic organic pigments dominate the market in terms of value, with a share of 93.6% in 2020. Synthetic pigments manufactured using petroleum compounds, acids, and other chemicals usually under high heat or pressure for manufacturing. They are generally synthesized using ring-based aromatic compounds.
Azo pigments account for nearly 42.6% of all organic pigments by value in 2020. Azo pigments are among the organic compounds with a functional azo group (-N=N-). They are further classified based on their chemistry into monoazo and diazo pigments. These pigments are derived from water-soluble dyes and are the largest, as well as the most diverse group of synthetic organic pigments. Azo pigments are available in the shades of yellow, orange, red, and brown. Due to their stable nature, these pigments are widely used in the printing inks and coating industry.
APAC is the most lucrative organic pigments market. The growing population, rising urbanization, and increasing purchasing power are the key factors for the growth of the packaging, construction, electronics, and automotive industries in the region.
The printing inks segment accounted for a share of 36.4% in terms of value in the organic pigments market in 2021 and is projected to reach $2.4 billion by 2026 at a CAGR of 3.9%. The paints & coating sector is projected to witness the highest CAGR of 4.5%, growing from $1.7 billion in 2021 to $2.4 billion by 2026.
Synthetic organic pigments dominate the market in terms of value, with a share of 93.6% in 2020. Synthetic pigments manufactured using petroleum compounds, acids, and other chemicals usually under high heat or pressure for manufacturing. They are generally synthesized using ring-based aromatic compounds.
Azo pigments account for nearly 42.6% of all organic pigments by value in 2020. Azo pigments are among the organic compounds with a functional azo group (-N=N-). They are further classified based on their chemistry into monoazo and diazo pigments. These pigments are derived from water-soluble dyes and are the largest, as well as the most diverse group of synthetic organic pigments. Azo pigments are available in the shades of yellow, orange, red, and brown. Due to their stable nature, these pigments are widely used in the printing inks and coating industry.
APAC is the most lucrative organic pigments market. The growing population, rising urbanization, and increasing purchasing power are the key factors for the growth of the packaging, construction, electronics, and automotive industries in the region.
