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New York, December 3, 2021/PRNewswire/ - According to Technavio's latest market analysis report, from 2020 to 2025, the organic pigment market will grow by 1.18 billion U.S. dollars. The report also confirmed that the market growth momentum during the forecast period will accelerate by 4.18%. The report looks forward to the various factors affecting the current market conditions, the latest trends, driving factors and challenges affecting the overall market environment.
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2020-2025 Organic Pigment Market: The supplier structure market is fragmented, and the degree of dispersion will accelerate during the forecast period. Increasing industrialization in developing regions has stimulated the entry and growth of domestic suppliers, who often compete fiercely with global suppliers due to better customer relationships. Many suppliers also provide customized services that enable consumers to choose the exact shades they are looking for. Optimizing production can generate economies of scale by penetrating into multi-regional markets, thereby achieving successful and long-term employment.
Major markets such as BASF SE, Clariant International Ltd., Sun Chemical Corp., Ferro Corp., Sensient Technologies Corp., Dainichiseika Color and Chemicals Mfg. Co. Ltd., DCL Corp., DIC Corp., Heubach GmbH, and LANXESS AG Participant. Many companies are offering innovative products to maintain their market position for a longer period of time. For example, BASF SE offers organic pigments with color coatings. Similarly, Clariant International Ltd. provides high-quality organic pigments, pigment preparations and dyes for the automotive industry.
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2020-2025 Organic Pigment Market: Drivers and Challenges Population growth and demand from urbanized areas have played an important role in driving market growth. The migration of individuals from rural to urban areas has led to an improvement in living standards and the acceptance of urban lifestyles. This has further led to the development of automobiles, construction and general industry. All these market segments are increasingly relying on the organic pigment sector to impart aesthetics. In addition, in recent years, there has been an increase in the demand for new pigments developed for color development in order to cater to personal tastes. For example, the automotive OEM, refinish, rim coating, accessories and interior markets are increasingly adopting water-based coating systems, with numerous color-intensive design possibilities. In turn, this is expected to further promote the growth of the organic pigment market during the forecast period. In addition, the surge in the regulation of VOC emissions has promoted the development of the organic pigment market and increased demand in the coatings industry, which will further accelerate market growth during the forecast period.
The high cost of organic pigments may hinder market growth. The increasing acceptance of these products has resulted in competitive prices compared with the inorganic pigments that dominate the market and the mixed pigments that have slowly penetrated the pigment market. In addition, rising raw material prices are expected to hinder the global organic pigment market. In addition, the high price of raw materials has attracted more and more attention from organic pigment suppliers. The fluctuations in crude oil prices over the years have had a significant negative impact on suppliers' operating costs and their profit margins. In addition, factors such as raw material price fluctuations have a negative impact on organic pigments, and the dispersion process is cumbersome, which will ultimately limit market growth in the long run.
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2020-2025 Organic Pigment Market: Segmentation Analysis
Printing ink applications will occupy the market share of organic pigments in 2020. During the forecast period, this market segment will further dominate the market because organic pigments are more popular than inorganic pigments because of their ability to impart brilliance and high tinting power. Changes in consumer preferences, coupled with the increasing importance of packaging in branding and advertising, have increased the use of organic pigments in the packaging sector, thereby driving the growth of organic pigments in printing inks.
In 2020, azo pigments accounted for more than 52% of the organic pigment market. This market segment may maintain its position as the largest revenue-generating market segment during the forecast period. These pigments are colorless clay and clay materials that give color when treated with azo compounds. The pigment carrier is an important aspect that affects the light resistance of azo pigments.
The Asia-Pacific region is the largest revenue-generating region in the organic pigment market in 2020. The region is expected to record the fastest market growth in the next few years. The emphasis on development, rapid industrialization and the booming automotive industry, especially in China and India, are expected to drive demand for paints and coatings. This in turn translates into a high demand for organic pigments in the region. During the forecast period, end-user industries such as automobiles and construction will drive the growth of the organic pigment market in the Asia-Pacific region. Countries such as China, India and Japan have important market shares in the global automotive industry. In addition, strict government regulations to reduce petrochemical products or products with high VOC content are the growth drivers of the organic pigment market.
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2020-2025 Organic Pigment Market: Scope Technavio introduces the market in detail by researching, synthesizing and aggregating data from multiple sources. The organic pigment market report covers the following areas:
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2021-2025 organic pigment market: main highlights
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Accelerate with a compound annual growth rate of 4.18%
Asia Pacific, Europe, North America, South America and MEA
U.S., China, Germany, Japan, and India
Leading company, competitive strategy, scope of consumer participation
BASF SE, Clariant International Ltd., Sun Chemical Corp., Ferro Corp., Sensient Technologies Corp., Dainichiseika Color and Chemicals Mfg. Co. Ltd., DCL Corp., DIC Corp., Heubach GmbH, and LANXESS AG
Mother market analysis, market growth incentives and obstacles, fast-growing and slow-growing market segments, COVID-19 impact and future consumer dynamics, market conditions during the forecast period
If our report does not contain the data you are looking for, you can contact our analysts and customize the market segment.
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