The global Organic pigments market size was USD 5.5 billion in 2021 and is expected to reach USD 6.7 billion by 2026, projecting a CAGR of 4.0% between 2021 and 2026. Organic pigments are increasingly used for printing inks, paints & coatings, plastics and other applications. The increasing demand from the packaging industry drives the demand for Organic pigments. Due to the outbreak of COVID-19, the market saw a dip but is expected to reach the pre-covid levels by the end of 2021. The organic pigments market is at a mature stage and is growing at a decent pace.
The packaging industry is seeing some major regulations with respect to environmental and health related risks associated with the use of inorganic pigments. The toxic nature of inorganic pigments has caused the shift of packaging industry especially from the food packaging industry towards organic pigments. The shift has been gradual and is still ongoing. The better properties of the organic pigments in regards with the colorfastness, gloss, color brightness, the packaging industry readily adopted organic pigments.
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Organic pigments based printing inks offers better transparency for multi color printing, their tonality is unparalleled. Organic pigments are characterized by bright, rich colors. They often provide powerful tint strength despite their transparency. The better finish of the organic pigments makes them ideal for packaging industry. It proves to be a great marketing tool to put forward the products in the most attractive packing. The trend has grown towards other marketing tools as well, such as brochures, hoardings, magazines, and other printed tools.
BASF SE (Germany), Clariant (Switzerland), Heubach GmbH (Germany), Sudarshan Chemical Industries Ltd (India) and DIC Corporation (Japan) are some of the major players in the organic pigments landscape. The companies are involved in mergers and acquisitions along with new product development and capacity expansions. The organic pigments manufacturing process has many regulations as well regarding to the raw materials and intermediaries involved. The European region is growing at the slowest pace as most of the regulations are initiated by the European Union (EU).
Clariant is a specialty chemical company based in Muttenz, Switzerland and founded in 1995. The company operates in four major business areas namely care chemicals; catalysis; natural resources; and plastics & coatings. It operates its organic pigments business under care chemicals segment. Clariant is amongst the leading supplier of quality organic pigments, pigment preparations and dyes used in the automotive industry, for industrial and architectural coatings, for the plastics industry, along with textile, consumer, construction and other applications. The company focused on both organic and inorganic growth strategies. Developing its product range and expanding to new locations.
BASF SE is a German multinational chemical company and the largest chemical producer in the world. BASF is an acronym for Badische Anilin- und SodaFabrik. It operates in a variety of markets. BASF SE operates through six business segments: chemicals, materials, industrial solutions, surface technologies, agricultural solutions, nutrition and care and others. The company has 11 divisions grouped into six segments. The industrial solutions division of the company is divided into two subsegments: dispersions & pigments and performance chemicals. The company supplies organic pigments through the pigments subsegment of the industrial solutions division. BASF is the leading pigment supplier worldwide, with a particular strength in high-performance pigments. The product portfolio comprises a wide range of organic and inorganic pigments, effect pigments and pigment preparations. It is the leading global supplier of organic pigments used in formulations for several industries, including coatings, construction, adhesives, printing and packaging, electronics, and paper. BASF SE primarily operates in Europe and has an active presence in North America, APAC, South America, Africa, and the Middle East. The company has 390 production facilities in more than 80 countries
Organic Pigments Market by Source (Synthetic and Natural), Type (Azo, Phthalocyanine, HPPs), Application (Printing inks, Paints & Coatings, Plastics), and Region (North America,Europe,APAC,MEA,and South America) - Global Forecast to 2026
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