Classic organic pigments market to witness notable demand across APAC automotive sector

Classic organic pigments market are a class of insoluble organic compounds that offer excellent coloring strength. Their insoluble properties mean that they have very little solubility in water, organic solvents, and other types of media. Classic organic compounds are typically composed of azo, diarylide, and phthalocyanine, among other compounds.

With a broad range of applications in the paints & coatings, inks, plastics, and numerous other end-use sectors, global classic organic pigments market size is slated to witness substantial growth in the upcoming years.

Hangzhou Origo Chemical Co., Ltd., Cathay Industries, SYNTHESIA, Brenntag Specialties Inc., and Trust Chem Europe BV, are a few notable classic organic pigments manufactures. These companies are focusing on introducing products that meet international health, safety and environmental (HSE) standards and ensure that their manufacturing is fully compliant, up-to-date with the latest regulatory requirements.

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Consistent demand across automotive paints & coatings

Rising consumer expectations and evolving color preferences are rapidly reshaping the automotive world. The Asia Pacific region in particular, which accounts for a substantial share of the automotive industry, has experienced dramatic growth in recent years. The demand for effective mobility in APAC countries has surged rapidly due to increased purchasing powers of consumers.

The APAC region is home to some of the world’s most esteemed automakers. The regional automotive sector, a core industry for many APAC economies, generates huge number of sales with one of the highest levels of production globally. It is also a leading consumer of paints and coatings.

Color plays an important role in the selection of new vehicle. Globalization of the automotive marketplace, changing consumer base, and growing expectations for greater performance and functionality are influencing modern trends in the development of automotive paints and coatings. Consumer inclination towards color customization and a strong demand for novel color solutions promises an exciting future for classic organic pigments industry.

The manufacturers of classic organic pigments are adopting various growth strategies including research and development, product innovations, and expansion into new territories to gain a competitive edge.

For instance, in June 2020, Japanese manufacturer Fuji Pigment Co., Ltd. announced plans to accelerate its red azo organic pigments and color inks business outside of Japan. The company also disclosed plans to build a new foreign branch office and manufacturing facility to help meet the increased demand for organic pigments and color inks in the APAC region.

A growing interest in advanced color solutions is a clear indicator for automakers to start investing in high-quality automotive paints and coatings. These factors will augment classic organic pigments industry forecast.

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Some major factors limiting the product adoption
The availability of numerous alternatives in the market, such as high-performance pigments that offer greater performance benefits, may restrict the adoption of classic organic pigments slightly. Government enforced shutdowns in many regions to prevent the spread of the coronavirus outbreak have caused major supply chain disruptions. The pandemic has also disrupted automotive production and chemicals manufacturing.

However, the global automotive sector appears to be well set for a rebound in the near future, with majority of consumers expected to take efforts to avoid ridesharing and public transportation. The ease of lockdown restrictions and vehicle demand in the upcoming years will certainly boost classic organic pigments market outlook.

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