June 17, 2024
Organic Pigments Market

Organic Pigments Market is Primed for Growth through Sustainability Trends

Organic pigments find wide use in printing inks, paints and coatings, plastics, rubber, and other industries to impart color to products. The consistent growth of end-use industries has been a major driver for the organic pigments market. Additionally, shifting consumer preference towards sustainable products with organic and natural formulations is expected to further fuel market expansion. The Global Organic Pigments Market is primed for steady growth through sustainability trends and innovations.

The Global Organic Pigments Market is estimated to be valued at US$ 6.56 Bn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global Organic Pigments Market are SABIC, BASF SE, Clariant AG, Dominion Colour Corporation, Ferro Corporation, Heubach GmbH, Sudarshan Chemical Industries Ltd., Sun Chemical Corporation, DIC Corporation, Pidilite Industries Ltd., Toyocolor Co. Ltd., Sensient Technologies Corporation, Trust Chem Co. Ltd., LANXESS AG, Vipul Organics Ltd., Qualitron Chemicals, Colors India, Navpad Pigments, Pure Chemicals, Sparkem, Pravin Dyechem Pvt. Ltd.

The growing demand from end-use industries such as printing inks, paints, and coatings is slated to drive theĀ  Global Organic Pigments Market Size over the forecast period. Expanding applications in plastics and packaging are also anticipated to boost consumption.

Geographically, the Asia Pacific region currently dominates the global organic pigments market and is expected to maintain its leading position through 2031. This can be attributed to the large manufacturing bases and growing industrialization in countries such as China and India. Meanwhile, organic pigments market is witnessing increased opportunities in developed regions with improving sustainability-driven innovations.

Market Key Trends

One of the key trends prevailing in the organic pigments market is the shift towards naturally derived and bio-based products. Manufacturers are investing in R&D to develop organic pigments from renewable resources like plants and vegetables using green chemistry techniques. This helps address sustainability goals and appeals to eco-conscious consumers. Another notable trend is the customization of organic pigments to suit the unique requirements of applications like 3D printing materials and OLED/printed electronics. Continuous product innovations centered around performance, color properties and safety will be crucial for the organic pigments industry in the coming years.

Porter’s Analysis
Threat of new entrants: The organic pigments industry has high costs of production, R&D, marketing, distribution and branding due to which threat of new entrants is low.

Bargaining power of buyers: Organic pigments have wide applications in various industries like paints & coatings, plastics, printing inks and others. And there are many established players providing quality organic pigments, so buyers have high bargaining power.

Bargaining power of suppliers: Suppliers of raw materials like petrochemicals and polymers have low bargaining power due to availability of substitutes and dependence on key buyers.

Threat of new substitutes: Threat from new substitutes is moderate as inorganic pigments provide cheaper alternative however organic pigments have better properties and performance.

Competitive rivalry: The global organic pigments market is fragmented with presence of many global and local players. Competition is high based on product quality, consistency, reliability of supply and pricing.

Geographical Regions

In terms of value, Asia Pacific region holds the largest share of global organic pigments market due to huge paints & coatings industry in China and other developing economies.

Europe is the fastest growing region for organic pigments market attributed to stringent environmental regulations favoring bio-based products, increasing demand from automotive industry and growth in packaging industry.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it