High Performance Organic Pigments Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3903
High performance Organic Pigments Market size is witnessing significant growth from 2019 to 2025 owing to increasing product application in automotive industry as coatings.
Global automotive industry is rapidly growing due to increasing demand for high-end automobiles, escalating automobile production in Asia Pacific region, and increasing spending power in developing countries. Global automotive production has increased by more than 12% between 2012 & 2018. Mature automotive industries in North America and Europe are still witnessing steady increase in automobiles demand. Furthermore, in Asia Pacific region government initiatives and favorable norms had positive impact on the regional automotive industry. Majority of global automotive players have made an investment in the rapidly growing Asia Pacific automotive industry, whereas some of them have shifted their manufacturing bases to this region. Indian automobile production has increased by more than 22% between 2012 & 2018. NATRiP, an initiative from Indian government to establish research & development center in the country to meet global automotive production standards will further enhance the quality of automotive production in the country. High performance organic pigment coatings are widely used in automotive industry in thrust cage bearings, steering column components, gas filler tubes, brake clips, door strikers, exhaust gaskets, wheel assembly washers, etc. The growth of global automotive industry will drive the high performance organic pigments market demand in coming years.
High performance organic pigments have superior characteristics as compared to their conventional counterpart pigments such as enhanced fastness, higher resistance to light & heat and prolonged operational life which allows these products to replace conventional pigments in various end-use applications such as coatings, inks, etc. It will boost the growth of product market in coming years. However, higher cost associated with the product might hinder the growth of high performance organic pigments market in near future.
High performance organic pigments market is segmented based on product type, application and region. Synthetic product type will have significant market share owing to extensive application range of the product type. However, as this product type is derived from petroleum-based products, it will be replaced by natural high performance organic pigments in coming years. World is moving towards eco-friendly solutions to minimize the use of petroleum-based products and this trend will result in high growth rate of natural product type in coming years.
Inks application segment is likely to have substantial high performance organic pigments market share. It can be attributed to various applications of high performance organic pigment inks such as folding cartons, flexible packaging, commercial & publication, etc. Plastic application segment will witness significant growth rate. High performance organic pigment is used to produce PVC, polyolefins, ABS, polystyrene, polycarbonate and polyamide. These products have various applications including their usage in the production of containers, pipes, etc. European automobile industry has shown some positive growth indications in the last few years which will propel the regional product demand in coming years. North America region will have significant market share owing to the presence of mature automotive industry. These trends will help high performance organic pigments market in these regions to grow significantly in the near future. China, India, Indonesia will lead the growth of Asia Pacific market owing to the rapid development in several end-use industries in these countries.
Some of the major high performance organic pigments manufacturers are Heubach GmbH, Sun Chemical, Clariant AG, BASF SE, Lanxess AG, Synthesia A.S., Solvay SA, Sudarshan Chemical, Ferro Corporation, Atul Ltd., Qingdao Sanhuan Colorchem Company, Shanghai Chaining Chemicals Company, Shandong Yuhong New Pigment Company, Kexun Printing Ink & Paste Company, etc. New product development, expansion of production capacity, business expansion through mergers & acquisitions are few strategies incorporated by the major players in high performance organic pigments market to maintain their competitive advantage.
High Performance Organic Pigments Market, By Type, 2014-2025
High Performance Organic Pigments Market, By Application, 2014-2025
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Heubach GmbH
- Sun Chemical
- Clariant AG
- BASF SE
- Lanxess AG
- Synthesia A.S.
- Solvay SA
- Sudarshan Chemical
- Ferro Corporation
- Atul Ltd
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