NEW YORK, Dec. 3, 2021 /PRNewswire/ — The organic pigments market size will grow by USD 1.18 bn from 2020 to 2025, as per the latest market analysis report by Technavio. The report also identifies the market growth momentum to accelerate at 4.18% during the forecast period. The report offers an outlook on various factors influencing the current market scenario, latest trends, drivers, and challenges impacting the overall market environment.
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Organic Pigments Market 2020-2025: Vendor Landscape
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Growing industrialization in developing regions has spurred the entry and growth of domestic vendors that often provide strong competition to global vendors because of better customer relationships. Many vendors also provide customized services that enable consumers to choose the exact hue they are looking for. Successful and long-term incumbency can be achieved with optimized production that generates economies of scale through penetration into multi-regional markets.
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 are among some of the major market participants. Many companies are offering innovative products to retain their market positions for longer tenures. For instance, BASF SE offers organic pigments which has color-based coating. Similarly, Clariant International Ltd. offers superior quality organic pigments, pigment preparations and dyes used in the automotive industry.
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Organic Pigments Market 2020-2025: Drivers and Challenges
Population growth and demand for urbanized areas has been instrumental in driving the growth of the market. The migration of individuals from rural to urban areas has led to an improved standard of living and people embracing urban lifestyles. This has further resulted in the development from automotive, construction, and general industrial segments. All these segments are increasingly depending on organic pigments sector for imparting aesthetic appeals. Furthermore, the demand for novel pigments to impose entailing color development for catering to individual tastes has also increased in recent years. For instance, water-based coating systems are being increasingly adopted in the automotive OEM, refinish, rim coatings, accessories, and interiors markets with numerous color-intensive design possibilities. This, in turn, is further expected to drive the organic pigments market growth…
Read More: Organic Pigments Market to Grow by 4.18% CAGR | 47% of Growth To Originate