Phthalocyanine Pigments Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4154
Phthalocyanine Pigments Market size is increasing rapidly due to the growing demand from construction, automotive and aerospace industry over the recent years. Rising demand of paints & coating owing to increasing construction and infrastructure activities in developing economies is the main factor that has boosted the phthalocyanine pigments demand in future. Positive demand for coating and painting applications in automotive & aerospace industry in order to provide protection from various external factors will swell the product market size. Phthalocyanine pigments form coordination complex with all elements and can also further be used as dyes or pigments. The phthalocyanine pigments possess exceptional dispersion, heat resistance and rheological characteristics. Therefore, they are highly suggested for superior quality printing inks with good tone and gloss. Additionally, rising demand of phthalocyanine pigments for various textile and leather applications will propel the product demand in the near future.
The budding demand for phthalocyanine pigments in recent years has grown, due to its rising usage in plastic coatings, wood coatings, industrial inks, powder coatings and textile applications. Moreover, phthalocyanine pigments also find applications in photovoltaics, quantum computing, and ink manufacturing also its exceptional chemical stability makes them suitable for plastic coloring applications. Phthalocyanine pigments hold low solubility rate and is thermally stable which makes it favorable for various marine applications. Phthalocyanine pigments do not melt but then can be sublimed during the presence of inert gases. Additionally, rising demand of phthalocyanine pigments from automotive & aerospace industry for protective coating and safeguarding applications will directly propel the global phthalocyanine pigments market demand over the forecast period.
Limited profit margins due to intense competition from lower-priced imports will hinder the product market. Moreover, this will impel product manufacturers to move towards substitutes such as high performance and inorganic pigments, that are known to offer greater profit margins. This could also impact the phthalocyanine pigments market share during the expected timeframe.
Based on classification, phthalocyanine pigments are categorized into blue, green and other pigments. Blue phthalocyanine pigment offers exceptional properties, that includes light fastness, heat fastness, tinting strength and acid & alkali resistance with no pigment migration. This pigment is widely used in various applications such as coatings, paints and ink manufacturing.
Based on application, phthalocyanine pigments market share is categorized into plastic, paints & coatings, ink, rubber, textile, leather and other application, which mainly includes soap and detergents. Increasing demand from plastic, paints & coating applications along with ink manufacturing will surge the product demand. Moreover, growing demand of textile and leather based applications will swell the product market size in the near future.
Based on end-use sector, phthalocyanine pigments are categorized into construction, automotive & aerospace, packaging, textile, equipment and others, which mainly includes marine. Growing demand from construction, automotive & aerospace industry in addition to packaging applications will propel the product demand during the projected timeframe.
Asia Pacific phthalocyanine pigments market size is anticipated to grow with a substantial CAGR owing to growth in infrastructural spending with respect to building & construction activities to meet the requirements of mounting population in the region. Increasing quality of living and disposable income in emerging economies India, Indonesia and Malaysia are expected to drive the product market in the region. Moreover, countries in the region are expanding economically with increasing foreign investment in the region will surge the product market in the near future. Growing automotive & aerospace industry owing to various government favoring policies such as “Make in India” will swell the product demand for various applications in the region.
Major players in the phthalocyanine pigments market share are BASF SE, ECKART GmbH, CPS Color AG, Clariant International Ltd., Flint Group, Jagson Colorchem Ltd, Huntsman Corporation, Kiri Industries Ltd., Unilex Colours & Chemicals Ltd, LANXESS AG, Sinocolor Chemical, Rockwood Holdings Inc, Sudarshan Chemicals and Vibfast Pigments Pvt. Ltd, etc.
Phthalocyanine Pigments Market, By Classification, 2014-2025
Phthalocyanine Pigments Market, By Application, 2014-2025
- Paints & coatings
Phthalocyanine Pigments Market, By End-use Sector 2014-2025
- Automotive & Aerospace
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- Saudi Arabia
- South Africa
- BASF SE
- ECKART GmbH
- CPS Color AG
- Clariant International Ltd.
- Flint Group
- Jagson Colorchem Ltd
- Huntsman Corporation
- Kiri Industries Ltd.
- Unilex Colours & Chemicals Ltd
- LANXESS AG
- Sinocolor Chemical
- Rockwood Holdings Inc
- Sudarshan Chemicals
- Vibfast Pigments Pvt. Ltd,
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