Update News: Growing Importance Of Aesthetics In Packaging Has Boosted The Organic Pigment Market Growth
Global Organic Pigment Market: Key Highlights
- According to the new market research report “Organic Pigment Market by Type (Azo Pigments, Phthalocyanine Pigments, High-Performance Pigments, and Others), by Application (Printing Inks, Paints & Coatings, Paints & Coatings, and Others), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global organic pigment market is estimated to reach USD 4.97 Billion by 2027 at a CAGR of around 4.6% during the review period.
- Increase demand for the launch of new and attractive products for various application has expected to boost the growth of product market
- Increasing use of organic pigment in high tech applications such as optoelectronic display, optical data storage has expected to create significant growth
- Growing industrialization and strict environmental regulation in developing nations has boosted the organic pigment market growth
- Lack of raw materials availability is one of the major restraining factor towards the growth of the product market
Global Organic Pigment Market: Key Market Dynamics
- Growing business competition has triggered a need for marketing and branding that has boosted the use of aesthetics packaging, thus driving the organic pigment market growth
- Stringent regulations to safeguard the food products form chemicals used for packaging has boosted the use of product market
- Higher cost of organic pigments than inorganic pigments is hampering the growth during the forecast period
Global Organic Pigment Market: Regional Overview
- North America
The organic pigment market in North America is expected to have significant growth during the forecasted period. This can be attributed to the growing construction and renovation activities across North America. According to the United States Census Bureau, in 2018, the value of total public construction was USD 305,364 million which increased to USD 324,055 million by July 2019 exhibiting an increase of over 6%. Growing construction spending is expected to increase the paint and coasting which in turn will boost the market growth.
- Asia Pacific
The Organic pigment market in the Asia Pacific is expected to witness the largest and fastest growth during the forecasted period. This is attributed to the growing demand for automotive, packaging, and construction industries in emerging economies such as China, India, Japan, and others. This demand has led to the increasing demand for paints & coating, ink, and plastic which in turn is expected to boost the organic pigment market.
Global Organic Pigment Market: Key Players Overview
Clariant is one of the leading specialty chemical company engaged in creating innovative and sustainable solutions for customers for many industries. The company provides the various solution for aviation, automotive, healthcare, electronics, consumer goods, and others industries. In September 2019, Clariant launched 25 organic pigments for biodegradable and compostable polymers which are compliant with the European Norm 13432 opening up color options and the appeal of organically recyclable packaging.
- Sun Chemical:
Sun Chemical was incorporated in 1818 offers delivery of local service and support that is customized to the markets. Sun Chemical is a subsidiary of DIC Corporation and it is located at 176 subsidiaries across 63 countries across the globe. Sun Chemical is a recognized leader in printing inks, coatings, and supplies for the packaging, publication, commercial, industrial, and digital markets. In September 2019, Sun chemical entered into an agreement to acquire BASF global pigments business, known as BASF Colors & Effects (BCE) which will help to expand its pigment product portfolio.
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