Industry/ Innovation/ Related News:
January 2017 – Organic Dyes & Pigments LLC has acquired Eastern Color & Chemical Company and is looking forward to expand their market in the U.S. region. There is a high chance for the company to develop new products by exchanging the technology and deliver better quality products to the organic pigments to wide range of customers across this region.
March 2017 – Evonik Industries AG (Switzerland) is one of the leading producer of paints & coatings, has announced that they have found a new technology to increase the compatibility between pigment and substrate. Many pigments have good binding properties with almost all coatings except alkyd resin coatings remain unsolved. Unlike dyes, pigments do not readily bind with substrate as they are binded physically but not chemically. Evonik Industries AG introduced a new product TEGO® Color Aid which can be used in the formulation to increase the pigment concentrate, colour retention capacity and the binder strength. This cutting edge technology allows the Evonik Industries AG to penetrate into the present scenarios paints & coatings industry’s problems and increase the number of organic pigments coatings application in various industries. This is also strongly going to impact other competitors to sustain in the Global Organic Pigment Coatings business.
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Top Growing Players:
BASF SE (Germany), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), Akzo Nobel N.V. (the Netherlands), Clariant (Switzerland), RPM International Inc. (U.S.), Tikkurila Oyj (Finland), KANSAI PAINT CO.,LTD (Japan), Kelly-Moore Paints (U.S.), Dunn-Edwards Corporation (U.S.), Organic Dyes & Pigments LLC (U.S.) and Toyo Ink SC Holdings (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Organic Pigments Market.
Organic Pigments Market – Overview
The Global Organic Pigments Market is increasing with the rapid growth owing to the proliferation of Paints & Coatings industry. According to a recent study report published by the Market Research Future, The global market of Organic Pigments is anticipated to grow at impulsive rate over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).
Globally, the market for Organic Pigments, Asia Pacific is set to be the fastest growing market in the coming years, owing to the rising demand for Organic Pigments based paints & coatings from construction and automobile industry. Organic Pigments are extensively used in the paints & coatings manufacturing to resist chemical attacks, discoloration, weather, and harsh temperatures.
Increasing urbanization suggests the growth of paints & coatings industry. Moreover growing industries such as Automobile, Aerospace and furniture provide impetus to the Organic Pigments Market growth.
Moreover, organic pigments upon exposing to critical temperatures they release harmful volatile organic compounds (VOCs) is expected to hamper the market growth.
Organic pigments are composed of carbon chains and carbon rings. In addition, inorganic elements are incorporated into these pigments to stabilize the mixture. Their main function is to have high colour retention capacity for the substrate and widely used as colorant in the paints & coatings industry. Organic Pigments are used in paints, coatings, furniture, plastics, construction, aerospace vehicles and printing inks.
Market growth rate of organic pigments is increasing mainly due to their resistive properties towards acid, alkali, detergents and lubricants in chemical plants, and rising demand for UV protection coatings for aircraft carriers.
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Organic Pigments Market – Competitive Analysis
The Organic Pigments Market appears to be competitive with the presence of several large and small players operating in the Organic Pigments Market. The key players are competing based on the organic pigments product’s colour index and colour retention capacity. These pigments are widely applied in the paints & coatings industry and more often used for the architectural coatings purposes. BASF is able to penetrate into wide range of applications such food contact materials and toys despite the stricter regulations in European countries. This insight gives strong competition for the other manufacturers in order to sustain their global business.
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