The global Phthalocyanine Organic Pigments Market size is expected to reach USD 6.10 Billion in 2028 and register a revenue CAGR of 4.9% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by increasing application of these pigments in inks, paints, plastics, and rubbers. Organic pigments are also extensively used as mass colorants in different sectors such as printing inks, paints coatings, plastic, and textile.
Organic pigments refer to colored materials that are made of organic compounds with pigment properties. These pigments are resistant to sunlight, heat, acid, alkali, and organic solvents. These also have an excellent dispersion property, which, in turn, is set to drive demand among various end-use industries. Organic pigments have bright colors, high tinting strength, and dispersion property. The excellent performance offered by these pigments in terms of durability, color, mobility, and appropriate viscosity to inks is expected to boost revenue growth of the market during the forecast period. These are also gaining more popularity, owing to rising usage as coloring agents of synthetic fibers and plastics. Rising expenditure in infrastructure development and increasing constructional activities are propelling demand for paints coatings from the construction industry. Additionally, various manufacturers are increasingly investing in RD activities to offer a comprehensive range of high-quality organic pigments for applications such as printing inks, paints coatings, plastic, and textiles.
Top Companies Operating in the Global Phthalocyanine Organic Pigments Market:
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.
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Some Key Highlights in the Report
- In September 2019, Clariant announced the launch of new organic pigments for biodegradable plastics. These new products were launched in order to meet the European Norm 13432 requirements for packaging. The company launched a range of 25 organic pigments for biodegradable plastics for manufacturers and brand owners of consumer goods and packaging. The newly launched organic pigments are expected to boost appeal of organically recyclable packaging and offer more color options. These pigments do not affect the degradability of polymer and are ideal for extensive variety of consumer goods, textiles, and packaging applications.
- Azo segment is expected to account for largest market revenue share in the global Phthalocyanine Organic Pigments Market over the forecast period, owing to its wide usage in different sectors such as printing inks, paints coatings, plastic, and textile. These are available in a wide range of colors such as yellow, orange, and red for painting and coating applications.
- Synthetic segment is expected to register a considerable revenue share over the forecast period. End-use industries mainly prefer synthetic organic pigments, owing to various lightfastness property, which, in turn, is expected to drive revenue growth of the segment during the forecast period.
- Paints coatings segment is expected to account for a significant revenue share in the global Phthalocyanine Organic Pigments Market. Rising demand for marine coatings, decorative coatings, industrial coatings, and automotive coatings is expected to drive growth of the paints coatings segment in the upcoming years.
- The Phthalocyanine Organic Pigments Market in Asia Pacific is expected to account for largest revenue share over the forecast period. Major players such as DIC Corporation, Hangzhou Heubach Pigment Co. Ltd., Sudarshan Chemical Industries, Trust Chem Co. Ltd., and Toyocolor Co., Ltd. are investing in the development of a comprehensive range of high-quality organic pigments for printing inks, paints coatings, plastic, and textile applications. This factor is boosting market growth in the region.
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Phthalocyanine Organic Pigments Market Segmentation
By Type Outlook:
- Azo
- Phthalocyanine
- High-performanc
By Source Type Outlook:
- Natural
- Synthetic
By Application Outlook:
- Printing Inks
- Paints Coatings
- Plastics
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