Press release
Organic Pigments Market Unlocking Prosperity Paths Navigating Growth Opportunities in Future Market Sizes
Organic Pigments Market
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Key Takeaways from the Report:
Market Size and Growth: The global organic pigments industry generated $5.6 billion in 2021 and is estimated to reach $8.4 billion by 2031, with a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period (2022-2031).
Drivers: The growth of the global organic pigments market is fueled by the increasing demand for organic pigments in various industries such as pharmaceuticals, plastic packaging, paints & coatings, automotive, and textiles. Additionally, the need for bio-based paints & coatings, the expansion of color shade options, and the demand for high-performance pigments contribute to the market's growth.
Challenges: The high cost of organic pigments is a significant hurdle for market growth.
Opportunities: The organic pigments market is expected to grow due to increasing demand from the building and construction industry. Furthermore, the demand for reliable commercial products, such as 3D printing materials, presents opportunities for market participants in the future.
COVID-19 Impact: The COVID-19 pandemic negatively affected the organic pigments market due to disrupted supply chains and a decline in demand from various end-user industries. However, the increasing demand for dependable commercial products, such as 3D printing materials, may create opportunities for market participants in the future.
Segment Analysis: The high-performance pigments (HPPs) segment dominated the market in 2021, contributing over two-fifths of the market share. This segment is expected to maintain its leadership position during the forecast period due to its growing application in various industries, particularly the automotive industry. Other segments analyzed in the report include azo pigments, phthalocyanine pigments, alizarin, arylide, and others.
Geographical Insights: The Asia-Pacific region led the global organic pigments market in 2021 and is expected to maintain its dominance through 2031. This is due to the rising demand for organic pigments in industries such as packaging, construction, and automotive in the region.
Competitive Landscape: Key players in the global organic pigments market include BASF SE, Clariant, DIC Corporation, Ferro Corporation, LANXESS, Sudarshan Chemical Industries Limited, Sun Chemical, Synthesia A.S., TOYOCOLOR CO., LTD, and Trust Chem Co. Ltd.
The report helps businesses understand the market performance, operating segments, product portfolios, and developments of key market players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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