The worldwide organic pigments market is likely to experience significant gains in the near future. Increasing demand from industries such as textiles, coatings and plastics will drive the market. Organic pigments consist of carbon compounds obtained from petroleum or plants. These pigments are mostly available in the form of fine powders. This powder is further suspended in the binder and later applied to several materials. The expansion of the plastics industry will directly impact the market.
Advantages of organic pigments such as high strength, brighter color, and resistance to fading will possibly augment their adoption rate in the coming years. Also, these pigments provide superior level of safety as compared to inorganic pigments.
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The global market is categorized on the basis of products, applications, and regions. Products include monazo, phthalocyanine, quinacridone, and diazo pigments. Monazo yellow, orange, and red pigments are likely to contribute for the maximum share in the near future.
Applications of organic pigments include textiles, printing inks, paints and coatings, rubber, and plastics. Textiles are predicted to be the major application sector owing to their easy compatibility with most fibers.
Rapid urbanization along with increase in government infrastructure in developing economies is expected to fuel the demand for paints. This is anticipated to positively affect the organic pigments market demand further.
Region wise, the market is divided into Asia Pacific, North America, Europe, and Middle East & Africa (MEA). Asia Pacific is projected to observe notable growth over the coming years. Rapidly emerging countries such as Indonesia, Thailand, India and China will chiefly contribute to the regional growth.
Moreover, flourishing textile industries, rising disposable earnings, and rapid industrialization are vital factors boosting the demand in this region. The region provides the option of low labor costs, prompting many manufacturers to shift their production base.
Organic pigments market in North America and Europe have reached maturity. But the regions are constantly creating products respective of the current technology requirements. MEA market will exhibit considerable growth in the near future. Huge infrastructure projects in Qatar, Nigeria, and Saudi Arabia is expanding the demand in MEA region. Key market players operating in the global organic pigments market consist of Evonik Industries, BASF SE, Cabot Corporation, and Ciba Specialty Chemicals.