Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
According to MRFR's analysis, the World Azo Pigments Market is forecast to hit the upper figure US$ 2.2 billion with moderate CAGR of ~ 4.15 % between 2023 - 2030.
The Azo Pigments industry is driven by a number of among others that is pivotal in molding its dynamics. Another crucial factor is the application requests stemmed from finish industries, i.e., textiles, paints and coatings, and plastics. These factories also rely on Azo Dyes for achieving a wide range of types of decor for their given products. Such fluctuations in the scale of the demand for Azo Pigments are due to industry trends, and players must therefore exercise caution in paying close attention to these movements in the market.
As well as this, regulatory bodies have a great task in the disability of Azo Pigments market. Introducing strict regulations and guidelines regarding the use of chemicals, where particular issues related to toxicity and their impact on the environment set the terms for market dynamics is a substantial factor in the dynamics of the market. Conformity with these Regulations helps manufacturers not to lose a market access and sustainability.
Technological inventions are also one of the most determining factors in this evolution. Regular into pigmental recipes cooking and upcoming of innovations gives the advantage of the better performance, durability, and plasticity of Azo Pigments. Market actors are required to be active and track these technologies so as not to be left behind and meet user's trending needs.
Another market factor that global market can not forgive, is the global economy. Economic conditions, either locally or abroad, provides a common framework for consumers and companies to make their purchasing decisions. An economic crisis may result in the reduction of the need of non-essential see-through items which include the industries of textiles and automotive which use Azo Pigments heavily.
The competitive situation on the sector in the of the Azo Pigments market is a determining factor. All these have a pronounced effect in bringing a wide variety of manufacturers and suppliers into the market who are not long in utilizing the unique products combinations and specific market segments. Agility and rapidness to adapt to the market's dynamic will be the main force driving market players movement as they would be either aiming at grabbing leading market positions or at stay where they are.
The prices and availability of the commodities (raw materials) also weigh in the market forces making it more challenging for Azo Pigments to contend. Pigment Azo is the aggregation of various chemical compounds, thus the cost of unreliable raw materials affects production costs. The unpredictable nature of supply, as well as fluctuations of material prices is a significant challenge for players it the market, flooring them to develop high-level supply chain management and work their sourcing strategy.
Azo Pigments Market Highlights:
Azo Pigments Market Overview
Azo Pigments are organic chemicals, which contain nitrogen group. They have a similar chemical structure as of azo dyes and are mostly insoluble in water. The shades of the product are red, yellow, and orange, among others. The chemical constitution decides the shades and applications. The product solubility is in two forms oil soluble and water soluble, among these the oil soluble pigments segment accounted for the majority of the global market share in 2017. The product finds several applications, such as inks, plastic, rubber, textile fiber, paints & coatings, food, and stationery. Among these, the inks, plastics, and paints & coatings segments collectively accounted for more than 60% of the global market share in 2017.
According to MRFR analysis, The global Azo Pigments Market was estimated to be ~USD 1.65 billion in 2022 and is expected to reach a value of ~USD 2.20 billion by 2030. The market is projected to expand at a CAGR of ~4.15% by the end of the forecast period 2024-2032.
The red pigment segment held a leading market share in 2017, as it possesses excellent color strength and highly stable specifications. Stringent government regulations on using organic pigments in food materials and increasing manufacturing of colored printing inks for industrial usage is driving the global market growth. The innovation of product replaces conventional metal-based pigments which consist of lead, cadmium, and other heavy metals, which benefits the food industry to use the azo pigments in indirect food applications. The global organic pigments market accounted for approx. USD 3.48 billion in 2017, of which the Azo Pigments Market accounted for more than 40% of share in the same year. The market has huge opportunity to expand the production facility in developing economies, due to the growing construction sector along with increasing demand for paints & coatings in the emerging economies of Asia-Pacific.
However, the high price of the product over inorganic pigments is expected to restrain the global market growth during the assessment period.
In February of 2023, a coalition including Unilever P&G Reckitt and BASF SE was formed to reduce greenhouse gas emissions for the first time; Flue2Chem is a multi-industry partnership that aims to create sustainable chemicals from waste industrial gases that can be used in UK consumer goods as an alternative to fossil fuels.
Global Azo Pigments Market Share, by Application, 2017 (%): 
Market Segmentation:
The Global Azo Pigments Market has been segmented on the basis of Product, Solubility, Application and Region.
Based on Product, the Global Azo Pigments Market has been divided into red pigments, yellow pigments, orange pigments, and other pigments.
By Solubility, the Global Azo Pigments Market has been categorized as oil soluble and water soluble.
On the Basis of Application, the Global Azo Pigments Market has been categorized into inks, plastics, rubber, textile fibers, paints & coatings, food, stationery, and others.
Regional Analysis:
The Global Azo Pigments Market has been studied with respect to five key regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest share of the global market in 2017 and is projected to be the dominant regional market during the forecast period. Asian countries, such as China, Indonesia, and India are the major consumers of the product due to increasing purchasing power. Moreover, the rising infrastructural activities along with the adoption of eco-friendly products, paints & coatings, inks, and plastics are also expected to contribute to the growth of the regional market.
To mitigate the environmental challenges, the demand for low carbon emission products is increasing North America and Europe, and they are the major consumers of non-metal-based pigments across the world. The US Food and Drug Administration (FDA) and the Canadian Health Protection Branch (HPB) made approvals for azo pigments to be used in food applications. These initiatives have increased the demand for the product, which is expected to boost the growth of the regional market during the forecast period.
Key Players:
BASF SE (Germany), Clariant International (Switzerland), Sudarshan Chemical Industries Limited (India), Pidilite Industries Limited (India), LANXESS (Germany), Ferro Corporation (US), DIC CORPORATION (Japan), Sun Chemical (US), Tah Kong Chemical Industrial Corp. (Taiwan), Crown Color Technology Co. (China), Ltd., Dimacolor Industry Group Co., Ltd (China), and Trust Chem (The Netherlands), among others, are some of the key players in the Global Azo Pigments Market.
Recent Development:
- April 2021: DTM Print is all set to launch larger and faster printing features on its proprietary edible ink desktop printer known as Eddie. This printer helps make personalized designs on a variety of desserts and baked items. For printing on different food items, Eddie makes use of only three-color ink cartridges that have dyes. Carmoisine is an organic azo pigment that is extensively deployed in drugs, food products, cosmetics, and more. It is one of the key azo pigments that is allowed to be used in the European Union.
- In June 2021, Sun Chemical and DIC Corporation finalized the acquisition of BASF’s global pigments business. The acquisition brings together the complementary portfolio of technologies, products, manufacturing assets, supply chain, and customer service of the two companies to serve customers globally.
- In August 2022, the Heubach Group took over the pigments business from Clariant and now offers product carbon footprint for a group of 13 Azo pigments certified by TÜV Rheinland, which aids in calculating carbon footprints according to Green House Gas Protocol (GHG), ISO Norm (ISO 14067), Together for Sustainability (TfS) PCF Guideline.
Heubach Group purchased Clariant's Pigments division in collaboration with SK Capital Partners; the disclosed baseline enterprise value at the signing was over US$850 million, subject to closing account adjustments and a potential earn-out payment of US$55 million.
In June 2022, Clariant International announced a final agreement with Heubach Group whereby S.K. Capital Partners subsidiary will acquire Clariant International's azo pigments manufacturing division.
Intended Audience
- Azo Pigments Manufacturers
- Traders and Distributors of Azo Pigments
- Research and Development Institutes
- Potential Investors
- Raw Product Suppliers
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
