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Phthalocyanine Pigments Market Size

Report ID: GMI4154
Published Date: Aug 2023
Report Format: PDF

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Phthalocyanine Pigments Market Size

Phthalocyanine Pigments Market size was valued at around USD 27.8 billion in 2022 and is anticipated to grow at a CAGR of 5.9% between 2023 and 2032. Phthalocyanine pigments are known for their intense and vibrant colors that remain stable over time. Their resistance to fading and discoloration makes them a preferred choice for applications requiring long-lasting color.

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These pigments exhibit excellent lightfastness, making them suitable for outdoor applications where exposure to sunlight is common. Their durability contributes to the longevity of products. Phthalocyanine pigments cover a broad spectrum of colors, including blues, greens, and even some reds and violets. This versatility allows manufacturers to achieve a wide range of color shades.

Phthalocyanine Pigments Market Report Attributes
Report Attribute	Details
Base Year:	2022
Phthalocyanine Pigments Market Size in 2022:	USD 27.8 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.9%
2032 Value Projection:	USD 49.1 Billion
Historical Data for:	2018 to 2022
No. of Pages:	150
Tables, Charts & Figures:	191
Segments covered:	Color Type, Sub Type, Application, Region
Growth Drivers:	Color Stability Growing Demand in the Paints and Coatings Industry Growing Demand for Printing Ink
Pitfalls & Challenges:	Regulatory Concerns Environmental Impact Alternative Technologies

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Some older formulations of phthalocyanine pigments may contain heavy metals, leading to environmental and regulatory challenges. The production of phthalocyanine pigments can involve chemical processes that generate waste and emissions. The handling of certain pigments and chemicals used in their production may pose health and safety risks to workers. Thus, the risks associated with Phthalocyanine pigments may drive down the acceptance rate, further hampering the business growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for phthalocyanine pigments was valued at around USD 27.8 billion in 2022 and is estimated to surpass USD 49 billion by 2032, owing to the product’s intense and vibrant colors that drives it demand in paints & coatings as well as printing ink sectors.

Blue segment held a majority market value of USD 13.7 billion in 2022. The blue color is commonly used in architectural coatings, automotive finishes, and industrial coatings, driving demand for blue phthalocyanine pigments.

U.S. phthalocyanine pigments market accounted for a revenue of USD 5.7 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032, backed by the demand for architectural coatings from the construction of residential, commercial, and industrial structures.

Sudarshan Chemical Industries Ltd., Meghmani Pigments, Vibfast Pigments Pvt. Ltd., Trust Chem Co. Ltd., Sanyo Color Works Ltd., Nubiola Group, Sensient Technologies Corporation, Ferro Corporation among others.