Global classic organic pigments market share is anticipated to record a lucrative CAGR between 2022 and 2028 owing to the rising demand for different types of organic pigments, which are molecules that are made of carbon atoms along with oxygen, nitrogen, or hydrogen atoms. While natural organic pigments are procured from plant and animal products, the usage of these pigments is rare owing to their property of poor light fastness. However, these pigments are in high demand from modern commercial paint companies for lending romance in their traditional mixtures.
On the basis of chemical composition, the market is segmented into diarylide, phthaocyanine, azo, and other segments. Of these, the classic organic pigments market share is expected to register appreciable growth from the azo pigments segment through 2028. This rise is attributed to the high demand for organic yellow, orange, and red pigments. The segmental growth is mainly driven by the surging demand for organic pigments synthesized from aromatic hydrocarbons and containing a nitrogen group.
Based on end-use, the classic organic pigments market is categorized into plastics, paints & coatings, inks, and other segments. Out of these, the paintings & coatings segment is estimated to exhibit commendable expansion by 2028. This upsurge is due to the escalating demand for pigments that are mixed with numerous additives, solvents, and resins for the purpose of manufacturing various types of coatings/paints.
This mainly covers distempers, marine/hammertone, water-based acrylic emulsions, acrylic lacquers, decorative paints, stoving, cement/exterior paints, epoxy, synthetic enamels, industrial coatings, OBD, and others. These factors are expected to drive segmental expansion through the coming years.
By region, the North America classic organic pigments market size is expected to observe substantial growth through 2028 considering the formulation of regulatory guidelines regarding the usage of pigments across various applications. For instance, the U.S. Food and Drug Administration has launched a “Summary of Color Additives” for the regulation of color additives that are used in different types of cosmetics.
Major players across the classic organic pigments market comprise SYNTHESIA, a.s., Trust Chem Europe BV, Cathay Industries, Brenntag Specialties Inc., Hangzhou Origo Chemical Co., Ltd., and others. These companies are focused on the adoption of strategic moves such as mergers, acquisitions, product developments, collaborations, and partnerships for the expansion of geographical footprint and enhancing product penetration.
Some of the instances have been mentioned below:
The SARS-CoV-2 pandemic has impacted the industry owing to hurdles from lockdown restrictions and supply chain disruptions. Numerous companies have, therefore, formulated mitigation plans for building new business relationships and catering to clientele requirements during the pandemic period. These aspects are expected to propel opportunities of product development for the purpose of boosting business scenario across various regions.