Organic Pigments Market Size Expansion To Drive Significant Revenues In The Future


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Organic Pigments industry Size

Key drivers of market growth include increasing demand from industries such as pharmaceuticals, plastic packaging, and bio-based paints and coatings.

WILMINGTON, DELAWARE, UNITED STATES, July 8, 2024 /EINPresswire / -- Allied Market Research recently released a comprehensive report titled "Organic Pigments Market by Type and End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031." The report outlines that the global organic pigments industry generated $5.6 billion in revenue in 2021 and is anticipated to reach $8.4 billion by 2031, with a compound annual growth rate (CAGR) of 4.2% from 2022 to 2031.

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Key drivers of market growth include increasing demand from industries such as pharmaceuticals, plastic packaging, and bio-based paints and coatings. The diversity in color shades and the popularity of high-performance pigments (HPPs), known for their durability and resistance to environmental factors, also contribute significantly to market expansion. Despite these growth drivers, the high cost of organic pigments remains a challenge.

The COVID-19 pandemic disrupted the market, impacting manufacturing and supply chains across various end-user industries, including paints and coatings, plastics, and textiles. However, recovery is underway, with opportunities emerging in sectors like 3D printing materials.

Among pigment types, the high-performance pigments segment dominated the market in 2021, contributing over two-fifths of the global market share and expected to grow at a CAGR of 4.7% during the forecast period. This growth is driven by their extensive use in industries like automotive, where their resilience to harsh conditions is highly valued.

In terms of end-use industries, printing inks held the largest market share in 2021, driven by their widespread application in various printing techniques and decorative applications. Meanwhile, the paints and coatings segment is expected to grow rapidly, particularly in automotive and construction applications, with a projected CAGR of 4.7% from 2022 to 2031.

Geographically, Asia-Pacific led the market in 2021, accounting for nearly half of global organic pigment sales. This region is projected to maintain its dominance through 2031, driven by increasing demand from sectors such as packaging, construction, and automotive.

Key market players highlighted in the report include BASF SE, Clariant, DIC Corporation, and Sun Chemical, among others. These companies are implementing strategies like expansions, new product launches, and partnerships to strengthen their market positions.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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