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The paints and coatings segment is anticipated to register the highest CAGR in the organic pigments market.
June 27, 2024
By: DAVID SAVASTANO
Editor, Ink World Magazine
MarketsandMarkets report, “Organic Pigments Market by Source (Synthetic and Natural), Type (Azo, Phthalocyanine, High-Performance Pigments (HPPs)), Application (Printing inks, Paints & Coatings, Plastics), and Region – Global Forecast to 2029,” estimates the market at $4.4 billion in 2024, reaching $6 billion by 2029, at a CAGR of 6.5% from 2024 to 2029. Organic pigments offer higher color strength and gloss when compared with inorganic pigments at the cost of lower covering power. These pigments are mainly classified into three groups, azo pigments, polycyclic pigments, and anthraquinone pigments, based on carbon, hydrogen, and nitrogen as their basic chemicals. The growing competition in the printing ink sector is pushing companies to offer better shades and vivid colors to printed text. The demand for different printing finishes has risen due to the increasing competition among brands and their need to place their product distinctly. Organic pigments in the form of color concentrates and masterbatches provide a variety of color shades, and customized colors can also be manufactured according to customer requirements. The paints and coatings segment is expected to be the fastest-growing segment of the market during the forecast period. Organic pigments are preferred for these applications as they offer a higher gloss and color finish. Organic pigments are widely used in decorative coatings, marine coatings, automotive coatings, and industrial coatings. Europe is the second-largest organic pigments market globally. The major industries in the region include automotive, building and construction, and packaging. These industries consume plastics in large volumes, which is increasing the consumption of organic pigments. The demand for organic pigments is high in the paints and coatings application in the building & construction and automotive industries.
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