Organic Pigments Market worth $6.7 billion by 2026 | Key players BASF, Clariant, DIC Corporation, Heubach GmbH, Sudarshan Chemical Industries Ltd.

According to recent market research the "Organic Pigments Market by Source (Synthetic and Natural), Type (Azo, Phthalocyanine, HPPs), Application (Printing inks, Paints & Coatings, Plastics), and Region (North America, Europe, APAC, MEA and South America) - Global Forecast to 2026" The organic pigments market is projected to grow from USD 5.5 billion in 2021 to USD 6.7 billion by 2026. The printing inks segment accounted for a share of 36.4% in terms of value in the organic pigments market in 2021 and is projected to reach USD 2.4 billion by 2026 at a CAGR of 3.9%. The paints & coating sector is projected to witness the highest CAGR of 4.5%, growing from USD 1.7 billion in 2021 to USD 2.4 billion by 2026.

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Synthetic organic pigments dominate the market in terms of value, with a share of 93.6% in 2020. The high growth and market share of synthetic organic pigments are attributed to its key advantages over other natural organic pigments. Synthetic pigments manufactured using petroleum compounds, acids, and other chemicals usually under high heat or pressure for manufacturing. They are generally synthesized using ring-based aromatic compounds. These chemicals produce almost infinite variations in the molecular structure. These have added advantage of higher durability, high lightfastness, and better gloss.

Azo pigments account for nearly 42.6% of all organic pigments by value in 2020. Azo pigments are among the organic compounds with a functional azo group (-N=N-). They are further classified based on their chemistry into monoazo and diazo pigments. These pigments are derived from water-soluble dyes and are the largest, as well as the most diverse group of synthetic organic pigments. Azo pigments are available in the shades of yellow, orange, red, and brown. Due to their stable nature these pigments are widely used in the printing inks and coating industry. The printing inks application accounted for the largest share by value of the organic pigments market. This is because of increasing demand from the packaging industry, especially food packaging. Increasing regulations and restrictions on the use of inorganic pigments has further aided in the acceptance of organic pigments in the market. Organic pigments-based printing inks are also gaining wide acceptance in marketing tools publication such as brochures, magazines, and other printed tools. This is due to the high vividness and sharpness of colors based on organic pigments.

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The countries, including China, Japan, India, and South Korea, are the major organic pigments markets in the region. China is the leading producer and consumer of organic pigments in APAC. The market in this region has many small and domestic manufacturers, providing customized products and services to clients that demand organic pigments in small quantities. All these factors have made APAC the largest and the fastest-growing organic pigments market.

The major players active in the market are BASF (Germany), Clariant (Switzerland), DIC Corporation (Japan), Heubach GmbH (Germany), Sudarshan Chemical Industries Ltd. (India), Ferro Corporation (US), Trust Chem Co. Ltd (China), Dainichiseika Color & Chemicals Mfg. Co. Ltd. (Japan), DCL Corporation (Canada), and Toyocolor Co. Ltd. (Japan). These players have extensive product portfolios, which cater to the demand for organic pigments from paints & coating, printing inks, plastics, and other applications across the globe. These players are heavily engaged in offering high-grade organic pigments. The market is in the mature stage and the competition amongst the firms is to capture bigger portion of the pie. The existing players are adopting inorganic strategies like mergers & acquisitions to increase their market share.

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BASF SE (Germany), Clariant (Switzerland), Heubach GmbH (Germany), Sudarshan Chemical Industries Ltd (India) and DIC Corporation (Japan) are some of the major players in the organic pigments landscape. The companies are involved in mergers and acquisitions along with new product development and capacity expansions. The organic pigments manufacturing process has many regulations as well regarding to the raw materials and intermediaries involved. The European region is growing at the slowest pace as most of the regulations are initiated by the European Union (EU).

Clariant is a specialty chemical company based in Muttenz, Switzerland and founded in 1995. The company operates in four major business areas namely care chemicals; catalysis; natural resources; and plastics & coatings. It operates its organic pigments business under care chemicals segment. Clariant is amongst the leading supplier of quality organic pigments, pigment preparations and dyes used in the automotive industry, for industrial and architectural coatings, for the plastics industry, along with textile, consumer, construction, and other applications. The company focused on both organic and inorganic growth strategies. Developing its product range and expanding to new locations.

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