Environment-Friendly Alternatives Boost Demand for Organic Pigments: FMI

According to Future Market Insights Inc., the global organic pigments market is projected to have a moderate-paced CAGR of 4.5% during the forecast period. The current valuation of the market is US$5,862 million in 2022. The market value of the organic pigments market is anticipated to reach a high of US$9,824.9 million by the year 2032. A historical CAGR of 5.3% has been recorded by the experts of Future Market Insights for the concerned market.

Organic pigments are referred to as synthetically made carbon compounds. Natural pigments are extracted through animals and flowers, whereas synthetic organic pigments are extracted through petroleum compounds. They come in a range of deep colors, including rose, deep red carmine, and crimson. They are usually stronger, brighter, and more transparent than inorganic pigments, although not as light-resistant. They hold the potential to be partially soluble in several thermoplastics. The surging demand for organic pigments in recent years can be attributed to the growing consumer preference for environment-friendly products.

Besides the factors bolstering the growth of the organic pigment market, the expert analysts at FMI have also identified some elements that are likely to hinder the pace of advancement in the long run. They include surging restrictions on raw materials of organic pigments are a market deterrent. Primary chemicals used in the manufacturing of organic pigments, such as toluene, benzene, naphthalene, xylene, and ethylene, are facing significant restrictions and regulations on industrial usage owing to their ill effects on human health.

Further, the growing dependence on the Asia Pacific to offer a global supply of the raw materials used in the manufacturing of organic pigments may also stall the market growth over the forecast period.