Organic Pigments Market

Organic Pigments Market Outlook (2022 to 2032)

The global organic pigments market is projected to have a moderate-paced CAGR of 4.5% during the forecast period. The current valuation of the market is USD 5862 Million in 2022. The market value of the organic pigments market is anticipated to reach a high of USD 9824.9 Million by the year 2032. A historical CAGR of 5.3% has been recorded by the experts of Future Market Insights for the concerned market.

Organic pigments are referred to as synthetically-made carbon compounds. Natural pigments are extracted through animals and flowers, whereas synthetic organic pigments are extracted through petroleum compounds. They come in a range of deep colors, including rose, deep red carmine, and crimson. They are usually stronger, brighter, and more transparent than inorganic pigments, although not as light-resistant. They hold the potential to be partially soluble in several thermoplastics.

The surging demand for organic pigments in recent years can be attributed to the growing consumer preference for environment-friendly products. Further, the product is witnessing heightened demand from niche applications, such as the production of packaging and advertising leaflets and catalogs, which is expected to result in the strategic growth of the organic pigments market over the forecast period.

Report Attribute	Details
Organic Pigments Market Value (2022)	USD 5862 Million
Organic Pigments Market Anticipated Value (2032)	USD 9824.9 Million
Organic Pigments Projected Growth Rate (2022 to 2032)	4.5%

Prominent Drivers in the Organic Pigments Market

FMI has analyzed that a large number of elements are likely to drive the growth of the organic pigments market in the upcoming years and unravel a positive dimension to the concerned market. They are as follows:

• Organic pigments are environment-friendly and are extensively used in various verticals, such as cosmetics, food, and beverages, among other industries. They find application in the plastics sector, where they are used in masterbatches to impart colors to plastics. This, along with the growing shift towards eco-friendly products, is expected to spur market growth over the forecast period.
• Robust urbanization and a rise in infrastructure expenditure are anticipated to propel the market growth over the forecast period.
• Further, organic pigments are witnessing heightened scope in the automotive sector with increasing government initiatives like ‘Make in India’ and rising investments in electric vehicles (EV).
• These substances are widely used in printing inks application owing to regulations and acts, including the Code of Federal Regulations (CFR), FFDCA, and Generally Recognized as Safe (GRAS). Even though the printing ink industry has been witnessing a constant decline in newspaper and periodical application segments due to digitalization, the demand for the same has been strongly growing in the packaging application segment.

Factors Restraining the Expansion of the Organic Pigments Market

Besides the factors bolstering the growth of the organic pigment market, the expert analysts at FMI have also identified some elements that are likely to hinder the pace of advancement in the long run. They are as follows:

• Surging restrictions on raw materials of organic pigments are a market deterrent. Primary chemicals used in the manufacturing of organic pigments, such as toluene, benzene, naphthalene, xylene, and ethylene, are facing significant restrictions and regulations on industrial usage owing to their ill effects on human health.
• Further, the growing dependence on the Asia Pacific to offer a global supply of the raw materials used in the manufacturing of organic pigments may also stall the market growth over the forecast period.

Regional Outlook

Growth Prospect of Organic Pigments in Regional Markets

Statistics:

Region	Statistics
North America	North America is projected to dominate the global organic pigments market through 2032. At present, this region is accountable for a market share of 25.8% globally.
Europe	Europe is projected to hold the second-largest share in the global organic pigments market after North America. Currently, the European region is accountable for a market share of 20.5% in 2022.
Asia Pacific	The Asia Pacific region is projected to witness robust growth in the global organic pigments market over the forecast time frame.

Responsible Factors:

Region	Responsible Factors
North America	The factors attributing to the rising market size for organic pigments in North America are: Increasing emphasis on designing and developing products aligned with the dynamic changing requirements of evolving technologies. The presence of key market players in North America is projected to aid the growth of the forum.
Europe	Key elements bolstering the market size in Europe can be identified: Rising Research and Development activities in the market are propelling the market expansion of organic pigments. A growing shift in the usage of environmentally friendly alternatives from heavy and metal-based pigments is expected to impact the market positively over the forecast period.
Asia Pacific	The aspects fueling the growth of the organic pigments market in the Asia Pacific region are: Lucrative growth opportunity for the organic pigments market due to the robust growth potential for textiles, construction, and plastics industries is expected to boost the regional market growth. Favorable government regulations and rising demand for organic pigments are likely to boost further growth of the market through 2032.

Start-up Ecosystem

New Entrants in the Organic Pigments Market to Offer Advanced Solutions

The start-ups in the global organic pigments market are thriving on account of lucrative growth potential. The frequent indulgence of start-ups with key players, along with rigorous collaboration to develop high-functioning organic pigments are expected to lead to market expansion globally.

Top Start-ups to Watch For

AURESSENS

The firm commenced its operations in 2021, and since then the company has been offering a substitute for metals, precious or otherwise, in technological as well as decorative applications where appearance or optical properties are crucial demand determinants. The company designs and formulates innovative organic compounds, which are entirely metal-free and are able to self-organize into coatings or pigmentary materials offering a metallic appearance.

Vercolos Pigments

The company has been founded by Marc Vanover, a plastics industry veteran, in late 2021. The start-up is located in Belton, South Carolina, and is involved in importing, stocking, and distributing pigments to the plastics, coatings, and ink industries. The start-up has also signed an exclusive agreement spanning North America to distribute Vipul Organics pigments and pigment preparations.

Competitive Landscape

Biggies Revolutionizing the Market

The key players proliferating in the forum are focusing on introducing new products and enhancing their product offerings to better cater to the changing needs of the end-user industries while retaining their competitiveness globally.

There is keen attention paid by the market players to the maintenance of the quality of products and innovation. They are also trying to diversify its range of manufacturing, indulging in mergers and acquisitions, and adopting organic growth strategies for a strong foothold in the global market.

Recent Developments:

• In June 2021, DIC Corporation and Sun Chemical finalized the acquisition of BASF’s global pigments business, popular as BASF Colors & Effects (BCE). This acquisition will help enlarge Sun Chemical’s pigment range, including those of cosmetics, electronic displays, inks, coatings, plastics, and specialty applications, by offering an even broader range of versatile solutions.
• In April 2022, Heubach Group announced the launch of its latest product range and advanced solutions at the American Coatings Show in Indianapolis. The company will present its next-generation inorganic, organic, and anti-corrosive pigments, dyes, pigment dispersions, and specialty materials at ACS 2022.

Some of the key companies in the market are

• BASF
• Clariant
• DIC Corporation
• Heubach GmbH
• Sudarshan Chemical Industries Ltd.
• Ferro Corporation
• Trust Chem Co. Ltd
• DCL Corporation
• Toyocolor Co. Ltd.
• Others

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 4.5% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2016 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD million and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Application, Source, Type, Region
Regions Covered	North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa
Key Companies Profiled	BASF; Clariant; DIC Corporation; Heubach GmbH; Sudarshan Chemical Industries Ltd.; Ferro Corporation; Trust Chem Co. Ltd; DCL Corporation; Toyocolor Co. Ltd.; Others
Customization	Available Upon Request

Key Segments in the Organic Pigments Market

By Source:

• Synthetic
• Natural

By Type:

• Azo
• Phthalocyanine
• HPPs
• Others

By Application:

• Printing Inks
• Paints and Coatings
• Plastics

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa(MEA)
• Europe

Frequently Asked Questions

What is the Growth Outlook for the Organic Pigments Market?

The growth outlook for the organic pigments market is predicted to advance at a CAGR of 4.5% from 2022 to 2032.

Which Region Leads the Organic Pigments Market?

The North American region is anticipated to lead the organic pigments market during the forecast period.

How much Growth Potential does the Organic Pigments Market hold?

The organic pigments market is likely to hold a valuation of USD 9824.9 Million by 2032.

Which sector is the key driver in the Organic Pigments Market?

The printing ink sector is the key driver in the organic pigment market.