The market prospect of organic pigments is very broad, but it also faces multiple challenges
The FMI Market Research report predicts that by 2032, the value of the organic pigments market is expected to reach a high of $9,824.9 billion.
According to Future Market Insights, a market research and consulting firm, the market prospects for organic pigments are very promising, with the global organic pigments market expected to grow at a compound annual growth rate of 4.5% during the forecast period, and the market is currently valued at $5.862 billion by 2022. The market cap of the organic pigments market will reach a high of $9,824.9 million, with FMI's Future Market Insights experts recording a historical compound annual growth rate of 5.3% in the related market.
Organic pigments usually refer to synthetic carbon compounds, natural pigments are extracted by animals and flowers, while synthetic organic pigments are extracted by petroleum compounds, organic pigments have rich color colors, including rose, crimson, carmine, etc., they are usually stronger than inorganic pigments, more vivid, brighter, more transparent, but not as fast as inorganic pigments. They are usually colored by colored substances in a highly dispersed state and also have the potential to partially dissolve in several thermoplastics.
The surge in demand for organic pigments in recent years can be attributed to the growing consumer preference for environmentally friendly products, which are widely used in printing ink applications due to regulations and acts such as Federal Regulations (CFR), FFDCA, and Generally Recognized as Safe (GRAS), although due to digitalization, these substances are widely used in printing ink applications. The printing ink industry has seen declining demand in newspaper and periodical applications, but the demand for printing ink in packaging applications has been growing strongly.
Although the market for organic pigments is promising, it also faces multiple challenges, in addition to the factors that promote the growth of the organic pigments market, FMI Market Research's expert analysts have analyzed a number of factors that may hinder the pace of its long-term development, including significant restrictions on the raw materials of organic pigments, which is a market deterrent. The main chemicals used in the manufacture of organic pigments, such as toluene, benzene, naphthalene, xylene and ethylene, face severe restrictions and regulations on their industrial use due to their adverse effects on human health; In addition, the global supply of raw materials used to manufacture organic pigments is also likely to hinder the market growth during the forecast period.
