Motivity of Pigments and dyes majorly lies in their high performance and the demand in the market.
Paint and coatings sales are projected to accelerate as a result of rapid urbanization and faster construction expenditures. As a result, significant avenues for organic pigments market expansion will emerge.
Organic pigments are carbon molecules that have been created deliberately and are used to colour substances. In contrast to inorganic pigments, which generate solid hues, organic pigments yield transparent colours.
These pigments are more eco-sustainable than inorganic pigments and produce vibrant colours, especially in printing inks.
According to the latest industry analysis, the market for organic pigments is expected to expand at a CAGR of 5% between 2021 and 2031.
Organic pigments’ propensity to provide vibrant colour richness has led to their widespread use in a variety of sectors. The market will continue to rise steadily, owing to the rising demand for ornamental paints from the building and construction industry.
Wherein Azo pigments are expected to pool in around 3.9% revenue share of the global colour pigments market.
Azo pigments account for most of the organic red, orange, and yellow tints.
The market is observing a consistently thriving demand for the Red coloured Azo pigments as the data reads a Year-on-Year (YoY) growth of 3.4% in 2021 to a total of 100,437 tons of red-coloured Azo pigments.
Colour palette of Red Azo pigments at Alliance Organics LLP.
The factors on which the market witnesses a surging clamour of Azo pigments are primarily listed;
- Efficiency
- Eco-Supportive
- Application in Consumer-industries
Organic pigments’ obscurity and resilience will enhance their areas of applications in the plastics industry, boosting sales prospects. Azo pigments, of extensive variety, were indeed acquiring a great deal of traction.
Key points from the Market Analysis:
Global organic pigments market to top US$ 6 Bn by 2031. Azo pigments are expected to reach around US$ 2.5 Bn by 2031. Phthalocyanine pigments are anticipated to value above 4% CAGR over the next decade.
Over the projection timeframe of 2021-2031, the European industry is poised to increase at a rate of 3%.
By 2031, the US market is expected to grow at a CAGR of 4%.
- Asia – Pacific region is the most profitable region, accounting for more than 50%revenue by 2031.
- South America’s market is estimated to grow at a rate of more than 4.5 percent per year over the next decade
- Over the projected period, rising demand for paints and varnishes is likely to fuel the need for azo pigments.
Demand for azo pigments is predicted to rise as a result of new rules governing the use and manufacturing of traditional pigments.
To some extent, the high cost of azo pigments is impeding the overall market growth.