Organic Color Pigments Market Outlook by 2021
The global market for organic color pigments has been witnessing a noticeable increase due to growth of its application industries. The overall global industry for pigments manufactures significant amount of extender, colorant, and functional pigments for wide range of consumer and industrial applications. The relocation of the pigments market towards emerging economies such as Asia Pacific, particularly India and China has been a major trend observed in the industry. Since the past few decades, production of these pigments has rapidly increased in India and China with the latter becoming the largest manufacturer of organic color pigments, particularly for commodity pigments. However, the production scenario in emerging regions and economies such as United States, Europe and Japan is expected to be on a downward trend due to certain factors such as globalization of the market as well as reduction in profit margins resulting in plant restructurings and shutdowns. Moreover, as more finished pigments are being imported from China, market trends such as imports of unfinished pigments to Japan, Europe and North America for finishing is expected to fall down over the next few years.
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Emerging economies such as China serves as the leading supplier of yellow and red azo pigments as well as their intermediates, while India is the leading manufacturer of green and blue phthalocyanine pigments and their intermediates. Over the years, the ink industries in Europe and North America have become largely dependent on raw materials and pigments from suppliers in Asia Pacific. In addition, prices of certain pigments have risen sharply due to several disruptions in the supply chain management of the raw materials. The fluctuation in the supply of the raw materials is likely to continue further as environmental practices of manufacturers in emerging economies such as India are expected to come under observation of various governmental bodies. This could lead to the closure of certain small and medium scale and non-complying manufacturers.
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Akzo Nobel N.V., Aarbor International Corporation, BASF SE, Pidilite Industries Limited and Toyo Color are some of the key manufacturers of organic color pigments present in the industry.
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