Organic Pigments Market Foraying into Emerging Economies During 2016-2026
Rising demand of organic pigments from end-use industries such as textile, plastic etc. are expected to drive growth of the market over the coming years. The market for organic pigments is anticipated to record its highest growth in Asia-Pacific due to rise in number of textile industries. Organic pigments are cost effective, non-toxic and possess good color strength, which makes them good choice for their use across various end-use sectors. Availability of organic pigments in various unique shades make them attractive for using in visual arts also. Increasing consumption of organic pigments in various hi-tech applications such as opto-electronic display, photo-reprographics and optical data storage is expected to create significant growth opportunities over the forecast period of 2016-2026.
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Organic Pigments Market Dynamics
Major factors driving growth of the organic pigments market include their increasing use in plastic, paint, coatings and textile industries. Moreover, upswing in number of textile industries and increasing demand of plastic products owing to various macro-economic factors is expected to boost the demand of organic pigments, in turn, fuelling the growth of global organic pigments market over the forecast period.
Unstable prices, various environmental regulations and limited availability of raw materials are some of the factors expected to impede the growth of global organic pigments market.
Manufacture of organic pigments with good light fastness property is gaining traction among global manufacturers. Besides, developing countries such as China & India are shifting towards becoming the center of global organic pigments market, both from the demand and supply side. Regulatory environment, labor laws and wages in Asia Pacific are expected to remain major factors impacting this global market shift. Moreover, owing to their ability to providing a wide color spectrum compared to their inorganic counterpart, organic pigments are expected to substitute inorganic pigments for some specific applications over the coming years.
Organic Pigments Market: Segmentation
Global organic pigments market is segmented on the basis of source of production and application.
On the basis of production source, global organic pigments market is categorized into natural and synthetic segments.
On the basis of application, global organic pigments market is segmented into paints and coatings, plastics, printing inks, textiles, cosmetics, food, chemical, and others.
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Organic Pigments Market: Regional Outlook
Global organic pigments market is segmented into seven key regions namely North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). Upsurge in development of textile & plastic industries in Asia-pacific is expected to boost the demand of organic pigments market in the region by 2026 end.
Organic Pigments Market: Key Players
Key players involved in the value chain of organic pigments market include BASF SE, Heubach India, DIC Corporation, Clariant, Lansco Colors, Sensient Technologies Corporation, Sun Chemical Corporation, Synthesia, Neochem Industries, Vibfast Pigments Pvt. Ltd., Neelikon Food Colors & Chemicals Ltd., Shanghai Road Dyestuffs & Chemicals Company Limited and others.
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