HOME Top Market Reports Organic Pigments Market by Type (Azo Pigments, Phthalocyanine Pigments, HPPs), Application (Printing Inks, Paints & Coatings, Plastics), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2023

Organic Pigments Market by Type (Azo Pigments, Phthalocyanine Pigments, HPPs), Application (Printing Inks, Paints & Coatings, Plastics), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: July 2018
Report Code: CH 1530

 

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The organic pigments market was valued at USD 3.55 billion in 2017 and is projected to reach USD 4.67 billion by 2023, at a CAGR of 4.8% during the forecast period. The high demand for organic pigments is due to the changing consumer preference for plastic packaged products.

Objectives of the Study

  • To analyze and forecast the market size for organic pigments, in terms of value and volume
  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, describe, and forecast the organic pigments market on the basis of type and application
  • To forecast the organic pigments market size with respect to 5 main regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market
  • To analyze competitive developments, such as joint ventures, mergers & acquisitions, new product launches, regional expansions, and R&D in the organic pigments market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies

Years considered for this report

  • 2017 – Base Year
  • 2018 – Estimated Year
  • 2023 – Projected Year

Research Methodology

This study estimates the size of the organic pigments market for 2018 and projects its growth by 2023. It provides a detailed qualitative and quantitative analysis of the organic pigments market. Secondary sources such as D&B Hoovers, Bloomberg Business Week, and Factiva were used to identify and collect information useful for this extensive, commercial study of the organic pigments market. Primary sources such as experts from related industries and suppliers of organic pigments were interviewed to obtain and verify critical information and assess prospects of the organic pigments market.

Organic Pigments Market

To know about the assumptions considered for the study, download the pdf brochure

Key players profiled in the report include BASF SE (Germany), Clariant AG (Switzerland), DIC Corporation (Japan), Heubach GmbH (Germany), and Sudarshan Chemical Industries Ltd. (India), Ferro Corporation (US), and Trust Chem Co. Ltd. (China).

Target Audience:

  • Manufacturers of Organic pigments
  • Chemical Suppliers
  • Traders, Distributors, and Suppliers of Organic pigments
  • Raw Material Suppliers
  • Government and Research Organizations
  • Industry Associations

“This study answers several questions for stakeholders, primarily which market segments they should focus upon during the next 2 to 5 years to prioritize their efforts and investments. It also provides a competitive landscape of the organic pigments market.”

Scope of the Report:

The organic pigments market has been segmented as follows:

Organic Pigments Market, by Type:

  • Azo Pigments
  • Phthalocyanine Pigments
  • HPPs
  • Others

Organic Pigments Market, by Application:

  • Printing Inks
  • Paints & Coatings
  • Plastics
  • Others

Organic Pigments Market, by Region:

  • Asia Pacific
  • Europe
  • North America
  • Middle East & Africa
  • South America

The market has further been analyzed for the key countries in each of these regions.

Drivers

Growing importance of aesthetics in packaging

The growing competition in the business environment worldwide has triggered the need for marketing and branding to succeed. Packaging plays a very important role in establishing brand value to customers. The importance of aesthetics in packaging has grown due to the need for product differentiation arising from high competition. Product packaging contains logos, which get highlighted by the use of organic pigments. Colors make packaging of products attractive and help in attracting customers. Thus, the importance of product appeal and aesthetics is increasing and is driving the use of organic pigments in packaging applications.

Stringent regulations for the use of printing inks in food contact materials

The regulations for using printing inks in food packaging applications is very stringent, worldwide to protect human health. According to government regulations, printing inks used in food contact materials should be strictly made up of organic pigments due to their environment-friendly nature. The absence of heavy metals such as iron oxides, titanium dioxide, and cadmium in organic pigments, which are considered harmful substances to human health is the major driver for the use of organic pigments in food contact materials.

Restraints

Higher cost of organic pigments than that of inorganic pigments

Organic pigments are more expensive than inorganic pigments, which is a major restraint for the market. The market is witnessing a high growth rate; however, the market size is quite smaller than that of the inorganic pigments. The inorganic pigment producers experience economies of scale for their production process, while the organic pigments are produced in small quantities. Hence, the production cost is higher, which increases the price for the final product. Organic pigments are, approximately one and a half times costlier than inorganic pigments, which limits its market in the paints & coatings and other applications that are not subject to strict regulations.

Available Customizations

Along with the market data, MarketsandMarkets offers customizations as per the specific needs of companies. The following customization options are available for this report:

Product Analysis

  • A product matrix that provides a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the Rest of Asia Pacific organic pigments market into Australia and New Zealand

Table of Contents

1 Introduction (Page No. - 12)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Unit Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
    2.3 Data Triangulation
    2.4 Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 27)
    4.1 Attractive Opportunities in the Organic Pigments Market
    4.2 Organic Pigments Market, By Application
    4.3 APAC Organic Pigments Market, By Application and Country
    4.4 Organic Pigments Market, By Region
    4.5 Organic Pigments Market, By Type

5 Market Overview (Page No. - 30)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Importance of Aesthetics in Packaging
                    5.2.1.2 Stringent Regulations for the Use of Printing Inks in Food Contact Materials
           5.2.2 Restraints
                    5.2.2.1 Higher Cost of Organic Pigments Than That of Inorganic Pigments
           5.2.3 Opportunities
                    5.2.3.1 Increasing Demand for High Performance Pigments
           5.2.4 Challenges
                    5.2.4.1 Increasing Production Cost Due to Strict Environmental Regulations
    5.3 Porter’s Five Forces Analysis
           5.3.1 Threat of New Entrants
           5.3.2 Threat of Substitutes
           5.3.3 Bargaining Power of Buyers
           5.3.4 Bargaining Power of Suppliers
           5.3.5 Intensity of Competitive Rivalry
    5.4 Macroeconomic Indicators
           5.4.1 Trends in Plastic Industry

6 Organic Pigments Market, By Type (Page No. - 37)
    6.1 Introduction
    6.2 Azo Pigments
    6.3 Phthalocyanine Pigments
    6.4 High Performance Pigments
    6.5 Others

7 Organic Pigments Market, By Application (Page No. - 41)
    7.1 Introduction
    7.2 Printing Inks
    7.3 Paints & Coatings
    7.4 Plastics
    7.5 Others

8 Organic Pigments Market, By Region (Page No. - 44)
    8.1 Introduction
    8.2 North America
           8.2.1 US
           8.2.2 Canada
           8.2.3 Mexico
    8.3 Europe
           8.3.1 Germany
           8.3.2 France
           8.3.3 Italy
           8.3.4 Spain
           8.3.5 UK
           8.3.6 Rest of Europe
    8.4 APAC
           8.4.1 China
           8.4.2 Japan
           8.4.3 India
           8.4.4 South Korea
           8.4.5 Indonesia
           8.4.6 Rest of APAC
    8.5 Middle East & Africa
           8.5.1 Turkey
           8.5.2 Iran
           8.5.3 Rest of the Middle East & Africa
    8.6 South America
           8.6.1 Brazil
           8.6.2 Argentina
           8.6.3 Rest of South America

9 Competitive Landscape (Page No. - 75)
    9.1 Overview
    9.2 Market Ranking
    9.3 Competitive Scenario
           9.3.1 New Product Launch, 2015–2018
           9.3.2 Investment & Expansion, 2015–2018
           9.3.3 Agreement & Partnership, 2015–2018
           9.3.4 Merger & Acquisition, 2015–2018

10 Company Profile (Page No. - 79)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     10.1 BASF SE
     10.2 Clariant AG
     10.3 DIC Corporation
     10.4 Heubach GmbH
     10.5 Sudarshan Chemical Industries Ltd.
     10.6 Ferro Corporation
     10.7 Trust Chem Co. Ltd.
     10.8 Dainichiseika Color & Chemicals Mfg. Co., Ltd.
     10.9 Dominion Colour Corporation
     10.10 Toyocolor Co. Ltd.
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
     10.11 Other Companies
               10.11.1 Gharda Chemicals Ltd
               10.11.2 Atul Chemical Ltd.
               10.11.3 Cathay Industries
               10.11.4 Apollo Colors Inc.

11 Appendix (Page No. - 95)
     11.1 Insights From Industry Experts
     11.2 Discussion Guide
     11.3 Knowledge Store: Marketsandmarkets Subscription Portal
     11.4 Introducing RT: Real-Time Market Intelligence
     11.5 Available Customizations
     11.6 Related Reports
     11.7 Author Details


List of Tables (69 Tables)
 
Table 1 Plastic Industry Demand, By Country, 2014–2018 (Kiloton)
Table 2 Organic Pigments Market Size, By Type, 2016–2023 (USD Million)
Table 3 By Market Size, By Type, 2016–2023 (Kiloton)
Table 4 By Market Size, By Application, 2016–2023 (USD Million)
Table 5 By Market Size, By Application, 2016–2023 (Kiloton)
Table 6 By Market Size, By Region, 2016–2023 (USD Million)
Table 7 By Market Size, By Region, 2016–2023 (Kiloton)
Table 8 North America: By Market Size, By Country, 2016–2023 (USD Million)
Table 9 North America: By Market Size, By Country, 2016–2023 (Kiloton)
Table 10 North America: By Market Size, By Application, 2016–2023 (USD Million)
Table 11 North America: By Market Size, By Application, 2016–2023 (Kiloton)
Table 12 US: By Market Size, By Application, 2016–2023 (USD Million)
Table 13 US: By Market Size, By Application, 2016–2023 (Kiloton)
Table 14 Canada: By Market Size, By Application, 2016–2023 (USD Million)
Table 15 Canada: By Market Size, By Application, 2016–2023 (Kiloton)
Table 16 Mexico: By Market Size, By Application, 2016–2023 (USD Million)
Table 17 Mexico: By Market Size, By Application, 2016–2023 (Kiloton)
Table 18 Europe: By Market Size, By Country, 2016–2023 (USD Million)
Table 19 Europe: By Market Size, By Country, 2016–2023 (Kiloton)
Table 20 Europe: By Market Size, By Application, 2016–2023 (USD Million)
Table 21 Europe: By Market Size, By Application, 2016–2023 (Kiloton)
Table 22 Germany: By Market Size, By Application, 2016–2023 (USD Million)
Table 23 Germany: By Market Size, By Application, 2016–2023 (Kiloton)
Table 24 France: By Market Size, By Application, 2016–2023 (USD Million)
Table 25 France: By Market Size, By Application, 2016–2023 (Kiloton)
Table 26 Italy: By Market Size, By Application, 2016–2023 (USD Million)
Table 27 Italy: By Market Size, By Application, 2016–2023 (Kiloton)
Table 28 Spain: By Market Size, By Application, 2016–2023 (USD Million)
Table 29 Spain: By Market Size, By Application, 2016–2023 (Kiloton)
Table 30 UK: By Market Size, By Application, 2016–2023 (USD Million)
Table 31 UK: By Market Size, By Application, 2016–2023 (Kiloton)
Table 32 Rest of Europe: By Market Size, By Application, 2016–2023 (USD Million)
Table 33 Rest of Europe: By Market Size, By Application, 2016–2023 (Kiloton)
Table 34 APAC: By Market Size, By Country, 2016–2023 (USD Million)
Table 35 APAC: By Market Size, By Country, 2016–2023 (Kiloton)
Table 36 APAC: By Market Size, By Application, 2016–2023 (USD Million)
Table 37 APAC: By Market Size, By Application, 2016–2023 (Kiloton)
Table 38 China: By Market Size, By Application, 2016–2023 (USD Million)
Table 39 China: By Market Size, By Application, 2016–2023 (Kiloton)
Table 40 Japan: By Market Size, By Application, 2016–2023 (USD Million)
Table 41 Japan: By Market Size, By Application, 2016–2023 (Kiloton)
Table 42 India: By Market Size, By Application, 2016–2023 (USD Million)
Table 43 India: By Market Size, By Application, 2016–2023 (Kiloton)
Table 44 South Korea: By Market Size, By Application, 2016–2023 (USD Million)
Table 45 South Korea: By Market Size, By Application, 2016–2023 (Kiloton)
Table 46 Indonesia: By Market Size, By Application, 2016–2023 (USD Million)
Table 47 Indonesia: By Market Size, By Application, 2016–2023 (Kiloton)
Table 48 Rest of APAC: By Market Size, By Application, 2016–2023 (USD Million)
Table 49 Rest of APAC: By Market Size, By Application, 2016–2023 (Kiloton)
Table 50 Middle East & Africa: By Market Size, By Country, 2016–2023 (USD Million)
Table 51 Middle East & Africa: By Market Size, By Country, 2016–2023 (Kiloton)
Table 52 Middle East & Africa: By Market Size, By Application, 2016–2023 (USD Million)
Table 53 Middle East & Africa: By Market Size, By Application, 2016–2023 (Kiloton)
Table 54 Turkey: By Market Size, By Application, 2016–2023 (USD Million)
Table 55 Turkey: By Market Size, By Application, 2016–2023 (Kiloton)
Table 56 Iran: By Market Size, By Application, 2016–2023 (USD Million)
Table 57 Iran: By Market Size, By Application, 2016–2023 (Kiloton)
Table 58 Rest of the Middle East & Africa: By Market Size, By Application, 2016–2023 (USD Million)
Table 59 Rest of the Middle East & Africa: By Market Size, By Application, 2016–2023 (Kiloton)
Table 60 South America: By Market Size, By Country, 2016–2023 (USD Million)
Table 61 South America: By Market Size, By Country, 2016–2023 (Kiloton)
Table 62 South America: By Market Size, By Application, 2016–2023 (USD Million)
Table 63 South America: By Market Size, By Application, 2016–2023 (Kiloton)
Table 64 Brazil: By Market Size, By Application, 2016–2023 (USD Million)
Table 65 Brazil: By Market Size, By Application, 2016–2023 (Kiloton)
Table 66 Argentina: By Market Size, By Application, 2016–2023 (USD Million)
Table 67 Argentina: By Market Size, By Application, 2016–2023 (Kiloton)
Table 68 Rest of South America: By Market Size, By Application, 2016–2023 (USD Million)
Table 69 Rest of South America: By Market Size, By Application, 2016–2023 (Kiloton)
 
 
List of Figures (28 Figures)
 
Figure 1 Organic Pigments Market Segmentation
Figure 2 Organic Pigments Market: Research Design
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation: Top-Down Approach
Figure 5 Organic Pigments Market: Data Triangulation
Figure 6 Azo Pigments Segment to Lead the Organic Pigments Market
Figure 7 Printing Inks Segment to Lead the Organic Pigments Market
Figure 8 APAC Led the Organic Pigments Market in 2017
Figure 9 Emerging Economies to Offer Lucrative Growth Opportunities for Market Players
Figure 10 Paints & Coatings to Be the Fastest-Growing Application of Organic Pigments
Figure 11 Printing Inks to Be the Largest Application of Organic Pigments
Figure 12 APAC Accounted for the Largest Share of the Organic Pigments Market in 2017
Figure 13 Azo Pigments Segment to Account for the Largest Market Share
Figure 14 Overview of Factors Governing the Organic Pigments Market
Figure 15 Porter’s Five Forces Analysis
Figure 16 Azo Pigments Segment to Dominate the Organic Pigments Market
Figure 17 Printing Inks Application to Lead the Organic Pigments Market
Figure 18 India to Register the Fastest Growth in the Organic Pigments Market
Figure 19 North America: Organic Pigments Market Snapshot
Figure 20 APAC: Organic Pigments Market Snapshot
Figure 21 Companies Adopted New Product Launch as the Key Growth Strategy
Figure 22 Market Ranking of Key Players, 2017
Figure 23 BASF SE: Company Snapshot
Figure 24 Clariant AG : Company Snapshot
Figure 25 DIC Corporation: Company Snapshot
Figure 26 Sudarshan Chemical Industries Ltd.: Company Snapshot
Figure 27 Feero Corporation: Company Snapshot
Figure 28 Dainichiseika Color & Chemicals Mfg. Co., Ltd.: Company Snapshot

The organic pigments market size is estimated at USD 3.69 billion in 2018 and is projected to reach USD 4.67 billion by 2023, at a CAGR of 4.8% between 2018 and 2023. The high demand for organic pigments in various applications, such as printing inks, paints & coatings, and plastics, is expected to drive the organic pigments market.

Based on type, the organic pigments market has been segmented into azo pigments, phthalocyanine pigments, HPPs, and others. The azo pigments segment is expected to be the largest type due to the large-scale usage in printing inks applications which are used in food & beverage and consumer goods packaging. The availability of a range of different colors, such as red, orange, and yellow, of azo pigments at a low price is also a major reason for the large demand.

Based on application, the organic pigments market has been segmented into printing inks, paints & coatings, plastics, and others. Organic pigments are widely used in printing inks in packaging and printing media industries due to stringent government regulation against usage of metallic content pigments.

Organic Pigments Market

Based on region, the organic pigments market has been segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America. The organic pigments market in Asia Pacific is projected to be the largest and fastest-growing, owing to the growing demand from packaging, automotive, and construction industries in the region.

The key restraining factor in the organic pigments market is the high cost of organic pigments. Organic pigments are, approximately, one and a half times costlier than inorganic pigments, which limits its market in paints & coatings and other applications that are not subject to stringent regulations.

Companies such as BASF SE (Germany), Clariant AG (Switzerland), DIC Corporation (Japan), Heubach GmbH (Germany), Sudarshan Chemical Industries Ltd. (India), Ferro Corporation (US), Trust Chem Co. Ltd. (China), Dainichiseika Color & Chemicals Mfg. Co., Ltd. (Japan), Dominion Colour Corporation (Canada), and Toyocolor Co. Ltd. (Japan) have adopted new product launches, agreements & partnerships, mergers & acquisitions, and investments & expansions strategies to enhance their foothold in the market.

Opportunities

Increasing demand for high performance pigments

The use of HPPs is increasing as they have higher lightfastness, fastness to chemical exposure, weather fastness and heat stability than conventional pigments. They also possess high color fastness and insolubility. These superior properties make organic pigments suitable for applications, including automotive and decorative coatings, which require excellent light and weather fastness. HPPs also offer other performance characteristics for colorants such as luminescence, fluorescence, and thermochromatic and photochromatic properties. These high-performance characteristics enhance the demand for HPPs in applications, such as coatings, plastics, inks, cosmetics, and textile. The development of organic HPPs for specific applications is an opportunity for the organic pigments market growth.

Challenges

Increasing production cost due to strict environmental regulations

Organic pigments and their intermediate manufacturers are mainly present in China and India due to the availability of low-cost raw materials and labor. The quality of the organic pigments used in food contact materials is mainly dependent on the quality of raw materials and the manufacturing process. In the recent times, regulations related to the discharging of processed water and removing of impurity content in its intermediates have been made stricter in China. Any change in the chemistry of the intermediates changes the rheology, shade, and gloss of the pigment, affecting the quality of the final products such as inks, paints, and coatings. Companies with exceptional R&D capabilities and high revenue can implement the necessary changes in their manufacturing formulation and technology to provide quality products.

New Product Launch, 2015–2018

Date

Company

Description

May 2018

Clariant AG

Clariant launched two new organic pigments, namely, Ink Jet Magenta E-S VP6057 and Ink Jet Orange GR VP6102 for the inkjet application. This development will enable the company to strengthen its product portfolio.

October 2017

DIC Corporation

The company introduced an azo-based yellow HPP for the architectural coating application under the brand name Sunbrite Yellow 74. This development has strengthened the company’s product portfolio.

Investment & Expansion, 2015–2018

Date

Company

Description

February 2018

Heubach GmbH

The company commissioned its new production plant in Pennsylvania (US). The company has planned to produce anti-corrosive pigments at its new plant with annual production capacity of 4,000 tons. This development will strengthen the company’s position in the market.

December 2015

BASF SE

BASF expanded its organic pigments production capacities in China and Germany. In China, the company expanded its production capacity for high-performance diketopyrrolopyrrole pigments while in Germany, it expanded the versatile alpha blue pigments production capacity. This development enabled the company to strengthen its position in the organic pigments market.

Agreement & Partnership, 2015–2018

Date

Company

Description

February 2017

Clariant AG and Lintech International LLC

The company expanded its partnership with Lintech International LLC (US) for distribution of its products in North America. This development strengthened the company’s market share in North America.

Merger & Acquisition, 2015–2018

Date

Company

Description

April 2018

Dominion Color Corporation and LANSO Colors

The company merged with LANSO Colors (US) to provide better solutions and wide broad portfolio for pigment end users. This development will enable the company to increase its customer base.

October 2017

Ferro Corporation and Cappelle Pigments

Ferro Corporation acquired Cappelle Pigments (Belgium), which is one of the leading manufacturers of high-performance specialty organic and inorganic pigments. This development will enable the company to increase its pigments business by approximately 30.0%.

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