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Stringent regulations regarding usage of printing inks in food contact material & expansion of coatings industry are key factors driving market revenue growth
NEW YORK CITY, NY, UNITED STATES, December 7, 2021 /EINPresswire.com/ — The global organic pigments market size is expected to reach USD 6.10 Billion in 2028 and register a revenue CAGR of 4.9% during the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by implementation of stringent regulations governing the usage of printing inks in food contact materials. Increasing issue of safety in food packaging is boosting demand for eco-friendly products. It is set to result in increasing scrutiny of pigments utilized in food and packaging. Organic pigments are nowadays being used in the food packaging industry as printing inks. This is mainly occurring, owing to safety issues among the concerned population regarding possible transfer of packaging color into food items. As organic pigments are made up of eco-friendly materials and are free-from heavy metals such as oxides of iron and titanium, these are showcasing high demand. Good quality organic pigments are also stable in terms of color & viscosity and can be easily printed on a number of substrates. These factors are expected to boost revenue growth of the market during the forecast period.
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Moreover, expansion of the coatings industry is contributing to the growing demand for organic pigments. The coatings industry is increasingly utilizing organic pigments in order to meet high demand for marine, decorative, industrial, and automotive coatings. Growth of sustainable and premium quality paints is resulting in surging demand for organic pigments. There is an increasing demand for High-performance Pigments (HPP) among the paints & coatings and printing ink industries owing to superior properties. Rising demand for brighter and cleaner colors with high resistance properties is boosting demand for High-performance Pigments (HPP).
Some Key Highlights in the Report
In July 2021, Clariant AG announced that its pigments were certified OK Compost Industrial by TUV Austria. These certified pigments can be utilized in coloring plastic products, including packaging. nine selected products in Clariant’s Graphtol, and PV Fast ranges. These pigments meet the requirements of European Union standards. The company’s Graphtol and PV Fast range of pigment powders are high-performance organic pigments. These are used in various applications such as plastic tableware/dishware or toys and sensitive food contact packaging.
Azo segment is expected to account for largest revenue share in the global organic pigments market over the forecast period. High durability, excellent heat stability, and good lightfastness properties exhibited by azo pigments would drive growth of this segment. Besides, azo pigments are extensively used in various applications such as paints, industrial & automotive finishes, and other industrial coatings.
Synthetic segment is expected to register a considerable revenue share over the forecast period. These organic pigments provide low toxicity and intense color attributes, which in turn, is expected to drive revenue growth of the segment. Additionally, these are utilized in printing inks, architectural paints & coloring textiles, automotive finishes, plastics, and papers.
Paints & coatings segment is expected to expand significantly over the forecast period. Expansion of the construction industry, especially in developing countries and rising spending in infrastructure development are resulting in increasing applications of paints & coatings in the construction industry.
The market in Asia Pacific is expected to expand at a rapid revenue CAGR over the forecast period. This growth is attributable to high demand for organic pigments from various end-use industries such as construction industries, automotive, and packaging.
Some companies in the market include BASF SE, Clariant AG, DIC Corporation, Heubach GmbH, Sudarshan Chemical Industries, Ferro Corporation, Trust Chem, Toyocolor Co., Ltd., Huntsman Corporation, and The Dow Chemical Company.
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For the purpose of this report, Reports and Data has segmented global organic pigments market based on type, source type, application, and region:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
Source Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
Paints & Coatings
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Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
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